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BUYING or SELLING a Property in SPAIN? Here's What You Should Know First | Pellicer & Heredia
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Oct 29, 2024
It was property specialist Antonio from @Pellicerheredia joining Kal this week in the new regular slot: Every other Wednesday from 16:00 CET There are so many things to consider before you rush in and buy a property you've fallen in love with here in Spain, many of which you may never have considered could be a problem. This could especially apply if you're looking at an older property out in 'the campo'. Find out more about what the team can offer at www.alicantelawyers.es and be sure to Like 👍 this and Subscribe to our channel if you found it useful. Website: http://www.bayradio.fm/ Mobile App: https://app.appinstitute.com/yddcc Facebook: https://www.facebook.com/BayRadioInSpain Twitter: https://twitter.com/bayradioinspain Instagram: https://www.instagram.com/bayradiospain/
View Video Transcript
0:00
please to welcome Antonio back to the
0:02
studio to talk about all things legal
0:04
today from the Alicante lawyers remember
0:08
always to uh check out the website
0:10
alakan lawyers. es pel Ando good to see
0:13
you Antonio good to see you too we've
0:15
had a good old long chat in the studio
0:17
about what we might talk about today
0:18
including your Ventures to the UK as
0:21
well which you you you did say that the
0:23
food wasn't something that you found
0:25
that brilliant when you lived in UK well
0:27
not the typical British food I guess the
0:29
F of F and chips was okay I guess and I
0:32
did like the restaurants though they had
0:33
good options but typical British food
0:36
probably not from not my cup of tea you
0:38
don't like a Sunday brunch a Sunday
0:40
lunch even not really the roast and such
0:44
is the boiled vegetables I think they
0:46
don't do it for me the overboiled
0:47
vegetables that's too much absolutely um
0:50
so you're the expert then on property
0:53
and convincing and things like that yes
0:56
that's true we are a team of several
0:57
lawyers as you know and three of us SRA
1:00
Daniel and I are specialized in
1:01
conveniency we have to talk before we
1:03
get on to anything to do with property
1:05
about the finalization of lenta the tax
1:09
which has to be done by the end of this
1:11
month I know you're laughing at my
1:12
Spanish no no that's perfect yeah no
1:14
it's true it's true the end the end is n
1:17
the end is coming if you're hearing this
1:19
you haven't done your tax return your
1:21
Renta then you are already running a
1:23
little bit late so you should definitely
1:25
check up with whoever does this for you
1:28
that's by so by the end of the month
1:29
that's when it has to be in and also
1:32
then coming up because it's never ending
1:33
taxes is it really um the quarterly tax
1:37
comes up for people who are freelance
1:38
aono that's right if you are a
1:41
freelancer and you do your vat invoices
1:43
and such from the 1st until the 20th of
1:46
July is the time for you to do it also
1:48
if you are a company you do the
1:49
quarterly as well and if you rent in a
1:52
tourist uh fashion with a tourist
1:55
license then you can do your quarterly
1:57
tax return for that if you want unless
1:59
you've chosen to do the yearly you can
2:02
do it yearly as well okay yes they
2:03
change it yes uh plenty going on with
2:05
property again in Spain we see cranes
2:08
everywhere it's almost like we're back
2:10
to pre-financial crisis times isn't it
2:12
there is so much going on um how
2:15
difficult is it for people from overseas
2:18
together head around sorting out buying
2:20
a property here things like we want to
2:22
focus on today Powers of Attorney which
2:24
you can do either from your home country
2:27
or for Spain which is better oh that's a
2:29
great question it's true if you live
2:32
abroad and you want to buy a property
2:33
here in Spain even if you want to move
2:35
here or you just wanted a holiday home
2:37
or an investment then it's typical for
2:40
you to hire somebody to do it for you
2:43
normally a
2:44
lawyer better if it's an independ lawyer
2:46
and the first thing that this person is
2:48
going to tell you is please sign me a
2:49
por of attorney basically for the
2:51
following thing which is obtaining an ni
2:53
number for you because you can always
2:55
come for completion if the completion is
2:56
set in a stone although giving a board
2:59
of attorney to allow somebody to do
3:00
completion for you it's definitely a
3:02
good idea you can do the port of
3:04
attorney from your home country or from
3:06
Spain the main difference is the things
3:09
you can do with the port of attorney
3:11
technically you can do almost anything
3:14
with a port of attorney you can have
3:16
somebody deputized to marry somebody on
3:18
your behalf with a p of attorney you can
3:20
give a property away with a p of
3:22
attorney you can get the mortgage sell
3:25
almost you know get a digital signature
3:28
almost anything if you know depending on
3:30
what the draft of the board of attorney
3:32
contains but there's a major difference
3:34
between a port of attorney signed in
3:36
your home country and one in Spain and
3:37
it's the N Number application it seems
3:40
sounds a little bit weird but most of
3:42
the times that you use a port of
3:44
attorney use it either at the noty to
3:46
buy sell you use it at court to Sue or
3:49
reply to a lawsuit or you use it at one
3:51
of the normal offices like utility
3:53
companies tax office all of them accept
3:56
both Nationals and foreign po of
3:59
attorney but the police station the
4:01
police station is the one that issues
4:02
the ni number and they've changed the
4:05
requirements they are becoming tougher
4:06
and tougher and they no longer accept a
4:09
board of attorney signed abroad unless
4:12
you sign it at the Spanish consulate or
4:14
Embassy they will only accept B of
4:17
attorney signed in Spain at least here
4:19
in aland right so that changes the
4:23
changes things around a little bit
4:24
because a lot of people come over you
4:25
know they find the property they want
4:26
they go back to their home country to
4:29
either set themselves up to move or even
4:32
to sort out buying their holiday
4:34
property that's true and that's a new
4:35
pressure for these um prospective buyers
4:39
which is that's that's exactly you know
4:40
you think I'm going to buy a property in
4:42
Spain you line up with an agent or you
4:44
come on in your own depending on what
4:45
kind of Adventure you want and then you
4:47
come you see several properties maybe
4:49
you made the decision on the spot but
4:50
maybe you do not there one two three
4:52
that you like or maybe none of them and
4:54
then you move back and you've made a
4:56
mistake if you lie from a country that
4:58
is close by you know you're French or
5:00
you you're from the Netherlands and
5:01
that's okay you can maybe maybe come
5:04
back to give power of attorney but you
5:06
if you are from further road further
5:08
abroad could be the UK slightly further
5:11
USA that's what it was going for if
5:13
you're Canadian from the USA Australian
5:15
or any of the other countries then
5:17
coming back is definitely a nogo and
5:19
then you are stuck in which you cannot
5:21
apply for your na number easily either
5:24
you do it at your Spanish consulat
5:25
Embassy back home or you have to come
5:27
back here to give a board of attorney so
5:29
it's better for people to come already
5:31
with their research already done if you
5:34
know you're going to buy something even
5:36
if you're unsure of what's going to be
5:39
it could be better to set up a meeting
5:41
with your lawyer or your future lawyer
5:43
which could be very well and then on
5:46
that appointment arrange to give them a
5:48
board of attorney you can instruct them
5:50
not to use it at all obviously they want
5:53
any lawyer would respect that until you
5:55
give them orders but you've planted the
5:58
seed for you to be able able to buy your
6:00
property of your dreams later and obtain
6:03
that really hard to get na number and
6:06
certainly you'd have to think in the the
6:08
current market today's market properties
6:09
are going rather quickly aren't they
6:12
yeah they come up and and and then you
6:14
know the next day you think wow the
6:15
sign's gone down again already that's
6:17
right I'm going to tell you a short
6:18
story about that precisely that happened
6:20
to me this week so I had a client she's
6:22
a Dutch lady living close to onon deas
6:25
nees which is not close to jaia but you
6:27
know it's a small Inland town uh
6:29
alongside Alicante Inland and she was
6:33
looking for a property for some time and
6:34
she found one that she liked in hondon
6:37
and she placed an offer then the
6:40
seller had an a second offer and says
6:43
well if you pay above market price and
6:45
maybe you get it and she raised the
6:47
price which is already a little bit
6:48
unusual she raised the price and offer
6:49
5,000 more and she got it but the lady
6:52
the seller freaked out because she
6:55
realized she was selling the property
6:56
too quickly she only put it on the
6:58
market three days prior and she was
7:01
wanting to sell her property to buy
7:03
something else and she couldn't find
7:05
something else to buy that quickly so
7:08
she had to cancel the sale before it
7:10
even started and this woman was left
7:13
without the property now we move forward
7:16
three months these the potential the
7:18
Dutch woman that was looking to buy a
7:19
property doesn't find anything else that
7:21
you know she likes as much as she like
7:22
that property and then the seller puts
7:26
it in the market again probably she
7:27
found another property but has increased
7:29
is the price in €25,000 yeah of course
7:31
that's how quick the Market's moving at
7:33
the moment yeah now to top up the buyer
7:36
the Dutch Woman made the offer and got
7:38
the property three months later than she
7:40
wanted and for €30,000 more that's how
7:43
crazy the market is at a time that's a
7:45
very good example um yeah you know you
7:47
have to move quickly uh it's strange
7:49
because um quite often I've heard a few
7:51
stories where different agents might say
7:54
oh look see how quickly this could sell
7:56
uh I think we probably undervalued it
7:58
let's go for more and you get that
8:00
scenario that's right because the way
8:04
this evaluating or you know gorging how
8:07
much a property is worth is really half
8:10
science Half Magic what people will pay
8:13
that's right because it's the market
8:15
isn't it so you could if one as you said
8:19
if one seller raises the price for one
8:21
property then if there is a sellers
8:23
Market as there is now and there is a
8:25
shortage of properties it will go to
8:27
that price quickly because people
8:29
desperate or they're becoming desperate
8:31
because they cannot really find
8:33
something that they like and then you
8:35
know the rest of the agents see it or at
8:37
least the same agent thought well if I
8:38
saw this one for this price then this
8:40
one this one this one and this one I
8:42
could definitely raise I'm going to sell
8:44
them anyway and the the seller is going
8:46
to be very happy I can raise my
8:47
commission because I'm making such a
8:49
good sale and so on and so forth but you
8:51
know it's a loop yeah do you think the
8:53
market is is going to continue R Rising
8:57
there's no sign of a bubble or a limit
8:58
is there yet really I haven't seen it
9:01
well bear in mind that although I do
9:03
deal with the these properties if I knew
9:05
exactly how properties are going to
9:07
beave I would be filthy rich but it
9:09
looks that way at least in my personal
9:11
experience at the office buying and
9:13
selling properties still increasing I've
9:16
rarely have encountered a property that
9:18
have a client buying that the seller
9:20
paid more for it or the same amount when
9:22
they bought it even if you was only one
9:24
two or three years ago so yes property
9:26
prices are increasing when we were
9:28
talking just before you've seen some
9:30
quite major increases in property prices
9:32
in say just three to four years that's
9:34
right yes I there are uh something that
9:37
I've noticed that happens particularly
9:38
here in Kia and is that people that
9:41
bought a property 2021 2022 for any
9:43
reason that well I'm BS to me they've
9:46
decided to sell it and they've voted
9:48
let's say for €250,000 and now they're
9:50
selling at least for 325,000 or 350 when
9:54
you you know to the agent you ask well
9:57
how about changes you've refurbished
9:59
just change the kitchen you know to for
10:00
the property to gain value sometimes
10:02
they rack even not that they know of
10:05
they just as they bought it so the
10:07
property has not been improved at all
10:08
but it's worth that more because the
10:09
market has gone up so much that's not
10:12
bad is it it's it's good if you've had
10:14
that as perhaps an investment or maybe
10:16
you've got two apartments and you're
10:17
selling one of them but if you have if
10:19
you're looking at buying in the same
10:20
area you're in the same boat aren't you
10:22
because basically whatever you want to
10:23
buy next is going to be also at a higher
10:25
price that's right doing the change of
10:27
selling a property to buy one of
10:29
equivalent price with the same money no
10:30
longer works you can downsize which is
10:32
something typical to do particularly if
10:34
you're a certain age we have a in onone
10:36
this turn I was talking about with do
10:38
rentas which we were talking about
10:39
before as well and one one of the
10:41
persons that go there with the people at
10:43
the office and you know handle the caims
10:45
there are most of them 70 plus years old
10:47
obviously because andon is an Old Town
10:49
or an old village and people bother 20
10:51
30 40 years ago and there's a current
10:54
there if you are 70 something and you
10:56
have maybe I don't know four or 5,000
10:57
square meter plot which you can get in
10:59
the Campo right as the garden is going
11:02
to be too much probably for you so
11:03
you're looking to downside sell that and
11:05
buy a small house a small Cita or an
11:08
apartment in in the city center so you
11:10
know you'll be closer to the to the
11:12
shops and the streets and suchar a
11:13
little bit more of a of of a life you
11:16
know with with your fellow neighbors and
11:18
also why not slightly cheaper you will
11:20
get an extra you'll sell your property
11:22
which is bigger to an eager new buyer
11:25
and then you'll buy something cheaper so
11:26
you'll have a few extra to enjoy on your
11:28
gold a little bit EG as well for uh yeah
11:31
for later retirement so I think we
11:33
covered most things with power of
11:34
attorney are there any other major
11:36
differences between getting the power of
11:38
attorney in Spain or getting it in your
11:40
home country generally in the home
11:41
country is more expensive because the
11:43
noty will see the not Republic that you
11:46
visit in in Germany in the UK in the
11:49
states whatever is going to see that as
11:51
the foreign something that they don't
11:52
normally do and when some a professional
11:55
encounter something they don't normally
11:56
do they normally charge more because
11:58
they going to be more risky more
11:59
dangerous for them and you know initial
12:01
work base better so it will be more
12:03
expensive and the steps to be taken are
12:05
longer if you sign up or attorney in
12:07
Spain takes I don't know maybe about an
12:09
hour for the noty to be ready not are
12:11
not too fast and and for you to sign it
12:13
but that's the end of it you pay it
12:15
you'll pay 150 or so for a full port of
12:17
attorney with everything and and that
12:19
will be it but if you pay it in your
12:21
home country can be that amount or twice
12:23
and you still have to legalize it you
12:25
have to send it to the foreign officer
12:26
equivalent so they put an upos Ste of
12:28
the he which is a stamp saying that the
12:31
nor Republic is entitled to sign the
12:32
port of attorney and then you have to
12:34
cor it to post it here to Spain you know
12:36
crossing your finger so it's it doesn't
12:38
get lost it does not get lost often but
12:39
it does happen and you've got to Hope as
12:41
well that the person that's doing it for
12:43
you in your home country knows to cover
12:45
everything that you will need for uh the
12:47
property or or for buying a property in
12:49
Spain I suppose you go with the
12:51
expertise in in the country that you're
12:52
going to buy I would say anyway yes and
12:54
that's a very good point what we
12:55
normally do at least in Pia on those
12:58
cases we do provide the not with a draft
13:01
a draft of the power of attorney double
13:03
column in Spanish and in English if the
13:05
country is not an english- speaking
13:07
country for example notaries in Poland
13:09
are known for not signing documents that
13:11
are not just in Polish then it can beit
13:13
a little bit more complicated because
13:15
you have to have the draft for the power
13:18
done in Polish which we have of course
13:19
but then it has to get translated back
13:21
with a you know professional sworn
13:23
translator and that has also a cost of
13:26
course polish is an expensive language
13:27
to translate from so you know we're
13:29
looking about another 200 300 EUR in in
13:32
costs and actually you mentioned polish
13:34
there the Polish economy despite all of
13:36
the political issues it's been
13:38
experiencing over the past year or so is
13:40
actually doing quite well in fact doing
13:42
better than Spain and in some cases so
13:44
therefore we've seen quite an influx of
13:45
Polish buyers haven't we especially on
13:47
the cost of blanca I I definitely agree
13:49
I think it's a combination of two things
13:52
first you know Ukraine is still MH as as
13:55
it is so definitely that he gives an imp
13:58
B with
13:59
course opponent is right in the border
14:01
so I'm I'm sure people are thinking what
14:03
if Putin gets a missile wrong in the
14:05
wrong turn and it arrives here and also
14:07
they have a lot of people coming a lot
14:08
of panic tension stress and people if
14:11
they can they want to live a life
14:12
without stress so we have an influx of
14:14
people po from Poland buying here
14:16
thinking well I think I'm going to
14:18
winter here because if you remember on
14:20
the first year of the war there was a
14:22
shortage of fossil fuels and people were
14:25
thinking that the heating was not going
14:26
to be because we couldn't buy gas from
14:28
Russia
14:29
that you couldn't get Heating and here
14:31
when it's winter you may get in the low
14:34
single digits maybe but houses could be
14:38
quite cold here Antonio come on know
14:39
that but think about Poland yeah
14:41
absolutely in deep winter there was a
14:43
big difference in in in field yeah
14:45
absolutely so we've got a lot of people
14:46
buying here and they I think they've
14:48
loved it the country is is in good shape
14:51
financially it looks like so we had a
14:52
big influx of of young people police
14:55
professionals buying a second home well
14:56
yeah post pandemic we have that
14:57
situation anyway with The Nomad Visa so
15:00
that's true yeah definitely that's
15:01
definitely true talking about property
15:03
and um you've gone into an area which I
15:05
don't really know very much about for
15:07
our second part of the chat today and
15:09
you're talking about different types of
15:11
property and uh specifically older
15:14
properties which have perhaps different
15:16
types of plumbing and so on I didn't
15:17
know this is something that that a
15:18
lawyer would end up dealing with well
15:20
you could be surprised but yes
15:23
technically if you buy a property one of
15:26
the as part of the due diligence you
15:28
have to find find out if it's connected
15:29
to the mains or not so if it has water
15:32
water supply or it's connected to the
15:34
sech system if it is then well that's
15:37
probably the end of my job and I guess
15:39
yeah in with an apartment you don't
15:41
really generally worry about that CU
15:42
it's in town or you know if it's on a
15:45
big urbanization generally it's all
15:46
linked up but if if you're looking
15:48
looking at sort of more rural areas
15:50
that's right yes and not only more rural
15:52
but here in ja if you go toalet or some
15:54
parts which is technically not really
15:56
the Campo as you could think about Halon
15:59
or you know or jber or one of the Castel
16:02
the Castel or one of the um cities that
16:05
are towns that are Inland we here even
16:07
in ja you can find plenty of properties
16:09
that are not connected to the mains so
16:11
that's what has to be one of the things
16:12
but yeah as you said an apartment is not
16:14
an issue but if you're buying a a plot
16:16
you know with you have a single family
16:18
house a chalet or yes a country house
16:20
something like that you have to know if
16:22
it's connected to the water and the sech
16:24
then that's more or less the end of it I
16:27
lawyers normally for the due diligence
16:28
don't get into how the plumbing inside
16:30
the house is generally but let's imagine
16:33
it's not right for the sake of the
16:34
argument because if not then we finish
16:36
with the topic let's imagine the the
16:38
property doesn't have a water connection
16:40
then that obviously in ja I don't think
16:42
you will find but you can find it in
16:43
jber or something like that if that is
16:45
the case then you have to install a
16:47
water tank right but the water T the
16:50
water tank may be already installed at
16:52
the property when you buy it but the
16:53
problem is the code the the urban code
16:57
that allows you which kind of a
16:59
structure you can have or you cannot
17:00
have it's a structure that goes
17:02
underground presumably aha that's true
17:05
now they have to go underground they
17:06
have to have a specific you know
17:08
characteristics so the water that's
17:10
contained inside remains sterile I guess
17:13
or you know drinkable water at least but
17:16
there's plenty of them that they used to
17:17
be done years ago with a special
17:20
insulation and they're placed not
17:22
exactly on top of the land but you know
17:24
they they they Port trude they they
17:27
raise up little a little so it's like
17:29
having half out and those most of those
17:31
are not up to code which means that
17:33
technically the property that you're
17:35
going to buy won't get and here this a
17:37
second occupation license which is one
17:40
of these papers that you need to or you
17:42
should get to when you buy the property
17:43
I'll talk more about this in a second
17:45
but that's half of it the other half is
17:48
well how you get the water in and how do
17:50
you get it out when it's used the
17:53
classic system is the soakaway right I
17:56
call it here poono or foso so that is
17:59
dark water brown Water we call it yeah
18:02
that's right Brown water that's right so
18:04
that is just kind of a place in which
18:07
you put the brown water in and then
18:09
either lets it out or you filter
18:11
something or that can work perfectly
18:13
well and be okay for you for usage but
18:16
it's probably 95% sure not up to Cod
18:20
again that will prevent you from having
18:21
the second occupation license instead of
18:24
that you should have a different thing
18:26
installed in either a septic tank which
18:29
is just you know like not plastic but
18:31
you know plastic thingy that you install
18:34
underground and it gets the water the
18:36
brown water in it does not get anything
18:38
out and then you get a service once or
18:40
twice per year depending on the usage to
18:42
come in you know clean it or whatever
18:44
and then go away that's the cheapest
18:46
version and it requires maintenance
18:49
which is a little bit of a track but you
18:50
know it will get you up to code and it
18:52
won't sank you too much in depth the
18:55
fancy thing I don't know the name in
18:57
English but in Spanish called T the oid
19:01
total the what it does which probably
19:03
they sounds like the oxidization word is
19:05
in there in the studio we're looking for
19:07
his Spanish translation here but he's
19:10
too he's too involved in filming I think
19:12
to anyway so these things are more
19:15
complex machine so it has in fact
19:16
electricity in it and it's a machine you
19:18
put the brown water in one end it does
19:20
process that it's magic and then on the
19:22
other side it comes a little bit of a
19:24
slat let's say which is perfectly fine
19:27
to be in the land that is the thing
19:29
that's what the code asks for people to
19:31
do now to having their property Greener
19:35
and not pollute the land where it's in
19:37
which with a SOA way it looks like
19:39
that's going to be the case see now the
19:41
second occupational license we're
19:42
talking about what's that about why is
19:44
it a second occupation right when you
19:46
build a house for the very first time
19:48
it's a brand new house you get a
19:49
habitation
19:51
certificate in Spanish but after 10
19:54
years it expires and generally you get
19:57
that renewed and the document has
20:00
several names but the classic name or
20:01
the one that everybody knows it for
20:03
although it can take several forms is
20:05
the second occupation license right and
20:07
that is worth of several things on on
20:10
some instances you needed to change the
20:12
utilities in other instances you need it
20:15
and for sure for the tourist license ah
20:18
aha so there you go so if you buy a
20:20
house and say oh this is going to be a
20:22
great investment it's slightly off the
20:23
road you know and it's not connected to
20:25
the to the mains but you know it's just
20:27
beautiful and he has you know two
20:29
stories I canr it to a family I'm going
20:31
to make a killing I need a tourist
20:32
license what a so what and I cannot get
20:35
the license for what and I have to spend
20:36
how much if you do your due diligence
20:38
before you have already probably told
20:41
the agent that you really want to what
20:43
you want the property for and you want
20:45
to rent it out or you you know you have
20:47
you want to change the electricity or
20:49
whatever then the agent should have told
20:51
you should but probably they didn't to
20:54
tell you how about the water and and S
20:57
situation is but if not if you don't
20:59
have an independent lawyer you end up
21:01
buying it as is then you are the one
21:04
that has going has got to fo the bill to
21:07
replace that in order to get this second
21:09
patient so this is kind of where it
21:10
would go wrong if you were perhaps to
21:12
say just use the lawyer that the people
21:14
who were selling the property youing
21:16
because we heard we hear about this
21:18
though well I guess we hear about
21:19
everything but yet I I that's my bad
21:23
idea you should get your own independent
21:26
lawyer somebody that will work just for
21:28
for you not for the agent not for the
21:30
seller for you when a client comes to me
21:33
and tells me anonio I love this property
21:35
can I buy it and then I'll take a look
21:37
and my reply won't be based on how
21:39
Starry the eyes of the buyer are if it's
21:42
you know if it's full of Dreams no it's
21:44
going to be dry fact it's like yeah I
21:47
shouldn't buy it I has got these and
21:49
these and these if you buy it you have
21:50
to pay these or it cannot be bought
21:53
because it's dangerous the client may
21:56
you know think it twice I won't carry
21:59
the way is how life is I prefer for a
22:01
person not to buy a property that cannot
22:04
really be sold you know safely or if
22:07
they do they have to do it fully inform
22:11
of what they're doing I'm perfectly fine
22:13
with a client buying a prop a property
22:15
I've told them not to buy because now
22:18
they know so they are buying something
22:20
you know adjusting the price or their
22:21
expectations or whatever so they may
22:23
need to change the sewage system to to
22:26
the new one that you were highlighting
22:28
but um they at least know that it's not
22:30
got it's got one of the older systems in
22:31
that's right but you balance both
22:32
options you think well but it is a
22:34
really good price if I had to spend an
22:36
extra 6 7 8,000 to update the cway into
22:39
a septic tank still is worth it or maybe
22:42
not maybe you're on a tight budget and
22:44
you really need it or you know you
22:46
really is upsetting for you to think
22:48
that this agent that was so nice to you
22:50
invited you to dinner and drinks of
22:52
course for a couple of days you know
22:54
dine and wind you as they say and now
22:57
they ruthlessly stopped you in the back
22:59
by not telling you this information so
23:01
some drawbacks then if you're buying an
23:03
older property or something that's a
23:04
little bit further out than the uh the
23:06
mainstream um and things that you
23:07
definitely want to make sure that your
23:09
lawyer looks at before you sign anything
23:11
that's right there's always there's
23:13
always something I have a a joke with
23:16
one of the the people at the firm Thim I
23:18
whenever I do a a convenance with her I
23:20
will say oh this one looks like it's
23:22
going to be an easy one and she always
23:24
berates me said don't say that Antony
23:26
there's always something and there is
23:28
there always something either there's a
23:29
problem with the seller there's a
23:31
problem with the house it could be the
23:32
soaka away the septic tank the community
23:34
of owners there's a mortgage there's an
23:36
embargo on the property could be
23:38
anything so you always have to even if
23:40
it looks like a simple purchase there is
23:43
such there is no such thing talking
23:45
about different things to do with
23:47
property and Dave was asked she said
23:49
that I'm a property owner I don't want
23:51
my children to sell the house they love
23:53
it here anyway and they'll keep it and
23:55
share it my question is how do I
23:57
transfer the house to them are their
24:00
taxes when it's transferred and not sold
24:03
that's an excellent question you can do
24:05
that definitely you could give your
24:07
property away as a gift to your kids it
24:10
will they pay they will pay taxes well
24:11
you will pay taxes on their behalf
24:13
because technically it's free for them
24:15
depending on how many kids you have and
24:17
how much the property is worth but from
24:19
the you know from the top of my head I
24:21
don't think that's the best solution I
24:22
think the best solution could be for you
24:24
to put the property in the whe or just
24:27
make a will in which you that that you
24:29
want the property to be divided equally
24:31
among your children I understand that
24:33
the that the person that made the
24:35
question is British so that means that
24:36
they can do whatever they want with the
24:38
will and H they'll get a better tax
24:41
exemption if the person that owns the
24:44
property is H gives it to a family
24:48
member like the kids they get € 100,000
24:51
free of tax each of the kids so if it's
24:54
two kids and the property is worth
24:56
€200,000 then there's no tax if the
24:59
person H bething giving away the
25:01
property you know on the will it's a
25:04
Spanish resident not Spanish National
25:06
but resent here pay the taxes and they
25:08
do the Renta by the way remember the
25:10
deadline and so on then on top of the
25:14
100,000 if they live out the property
25:17
the each one of the S will get extra
25:20
€50,000 off the tax base if they keep
25:24
the property at least for 5 years so
25:27
that looks like is going to be the best
25:29
solution for deit because he says the
25:31
kids don't want to sell the property so
25:33
even if they hasn't have only one kid or
25:35
two and the property is really you
25:37
know expensive property they'll probably
25:40
pay either no tax or a very low amount
25:43
of tax
25:44
250,000 discount per person inheriting
25:47
so that's quite a lot sounds like good
25:49
news doesn't it absolutely and uh we'll
25:51
pass on your details so that Dave can
25:52
get in touch if he wants to find out
25:54
more about that thanks Antonio um you
25:56
wanted to talk a little bit about we got
25:58
a bit of time to mention tourist
26:00
licenses alante City altea Valencia City
26:05
perhaps next are bringing in some new
26:07
rules that's right it has all well this
26:10
is a conversation that's been we've been
26:13
having every year since 2018 in which
26:16
the first ones there were Barcelona
26:17
within umia they had back in the day
26:19
decided that enough was enough and there
26:21
were strikes and campaigns against you
26:23
know massive T massive tourists we've
26:26
seen it number different parts of the
26:27
country that's right Valencia is
26:30
complaining about the cruise ships they
26:31
said that they got too many and people
26:33
come you with these Mega boats and
26:36
that's what they want to ban you know
26:37
the mega boats being able to land in in
26:40
Valencia and drop several thousand
26:42
people in one day which obviously Rick I
26:44
guess Rex H in the in the city alte
26:47
what's done is they've closed off the
26:49
top on giving tourist licenses to obtain
26:52
a tourist license you know just to
26:54
summarize is different in every County
26:56
so commun valenciana as when system
26:59
mayorca and the islands have another one
27:01
and Catalia has another one and so on
27:02
and so forth but the one that we have
27:04
here in alikante is a two-step program
27:07
you get first uh approval by the town
27:10
hall that you can get a license and then
27:12
you send it to the Valencia central
27:13
government and they'll give you the
27:14
license then but what the the the town
27:17
halls are doing is selecting which
27:20
neighborhoods or in the case of ala the
27:22
whole city they're going to give them
27:23
the approval for so altea has decided
27:26
for the one year at least you know while
27:28
the think things over and they they they
27:30
decide if it's right for them to issue
27:32
more licenses that they're closing off
27:35
entirely giving licenses out please this
27:38
is just for one year so far who knows
27:40
what will happen in the future and it
27:41
does not affect if you currently have a
27:43
license let's imagine you have a house
27:45
in ALA which has happened to us recently
27:48
by the way and you are looking to sell
27:50
it and the property ORD you're looking
27:52
to buy it and the property already has a
27:54
license then that means nothing because
27:56
you can get the license Chang to the new
27:59
owner regardless of their prohibition by
28:01
the town hall because changing the
28:04
ownership of the license that that's not
28:06
require the approval by the town hall
28:08
it's just the Valencia government they
28:10
want to the S side and they haven't said
28:11
anything about transferring I guess it's
28:14
something that we're going to be talking
28:15
about quite a bit more in the future
28:16
because it'll change but um Antonio is
28:18
the property expert at p and Heredia as
28:20
I mentioned alakan
28:22
lawyers. and uh you can see the website
28:25
in various different languages there
28:27
been great to talk to you on you today
28:28
thank you very much indeed very
28:30
interesting and I've learned quite a bit
28:31
that I didn't know an absolute pleasure
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