Services

Needs Assessment & Case Study

First of all, we have to find out what is your main objective when investing in the Spanish real estate market ? Is it to have a vacation home in Spain and take advantage of the lovely weather and the beautiful cities of La Costa Blanca to spend the summer there? Or is it to have passive income and monthly rents by buying and renting apartments to tourists ? Or are you looking for a quick return on investment and making a good profit when selling with the House Flipping strategy ?

So whatever type of investment you are willing to make, my team and I will help you better define it by determining the main characteristics and filters of your project based on your willings and budget. No matter how many meetings we will have, we will not take the second step, as long as the picture is not entirely clear to our client and he still needs more answers to his doubts. What matters to us in the end is that our client is 100% satisfied and happy with his investment and that the results are satisfactory and fruitful.

We are here to make your buying journey and your investment procedure in the Spanish real estate market a profitable, safe and pleasant adventure, assisted by highly experienced consultants.

Documents Preparation

Prior to the preparation of the Public Deed of Sale (which is a document that is registered in the Land Registry, and as such it proves that the property exists legally), a private contract is usually signed between the buyer and the seller. This private document is not obligatory nor inscribable in the Land Registry, but the law considers it a valid contract and obliges to comply with everything that is included in it.

Therefore, if you are going to buy a house, it is important to get proper advice before signing anything. In the private document, we will check and be sure that some important issues are taken into account:

• That the persons who are to sign as sellers are the owners of the property or persons having power of attorney on their behalf.
• Clearly determine the price and form of payment. Disagree to underprice or pay amounts that are not documented. This is against the law and can be detrimental to the purchase process.
• Include withdrawal conditions in the event that the property is encumbered or mortgaged by the seller and is not cancelled prior to the signing of the public deed.

• When signing the private contract, an amount is usually given as part of the payment of the total price or “down payment” – known as a “deposit” – which binds both parties. The most common are the “penitential” ones, which allow you to disengage from the contract before the signing of the deed. If it is the buyer who cancels the agreement, he will lose the amount paid, while if the seller does so, he will have to return double the amount received.

• Concerning the expenses of the operation: if the parties do not agree anything, or if they indicate in the contract that it is “according to law”, the legislation of the competent Autonomous Community will be applied. However, in the private document it is usually agreed who assumes the expenses, including that all of them are paid by the buyer, except for the capital gain tax that by law corresponds to the seller. If a construction developer sells, it is forbidden for the buyer to assume expenses that by law must be paid by the seller.

As for the Public Deed of Sale, contrary to what most people think, it is not a mandatory process to conduct to buy or sell a property, unless a mortgage loan is contracted to acquire it. However, the vast majority of citizens choose to go to a notary to carry it out due to its reliability and legal certainty. The notary, a public official, attests and authenticates these declarations in the deed so that neither of the parties can deny what they have declared. The public deed is privileged evidence before the courts. Also the notary is not limited to attesting, his professional performance provides legal certainty by verifying that the aspects contained in the private document are in accordance with the law.

Once the deed of sale has been signed, the following steps must be followed:

• Payment of taxes and registration in the Land Registry.
• Setting up the main utilities at the name of the buyer: electricity, gas, water, tv cable, internet, landline, home insurance, etc…
• Keep all original documents, receipts, warranties and invoices regarding the purchase.

Properties Selection

During this stage we will proceed to select for you a series of properties that meet the criteria and characteristics of your demand. Each selected property will be subject to a detailed study of its price, location and potential added value. A global report will be made and a score from 0 to 10 will be assigned to each property, taking into account its compatibility with the client’s project.

Every detail will be discussed with the client, the advantages and disadvantages of each property will be presented and opinions will be shared between the consultants and the client to reach a conclusion and reduce the number of properties selected. This step will refine the research and result in the next efforts focusing on one or two properties.

Property Investigation

Purchasing a house is the most important investment in the life of most citizens, so if you are thinking of buying a property in Spain, do not hesitate to consult with me and, above all, do not sign any document without first having the appropriate advice, especially before the transfer of money, even if it is in the form of a deposit. My team and I will proceed to a preliminary examination of the property you are interested in acquiring. This involves many verifications:

• Check if the property is free of encumbrances, if it has a mortgage, if there are any liens on it, or if there is any limitation in the statutes of the community of owners.
• Make sure that the property is up to date with the payments and expenses of the community of owners, since in certain cases the law obliges the buyer to take care of them.
• Consult the Land Registry to check if the property is well registered in the seller’s name.
• Consult the Real Estate Cadastre to obtain descriptive and graphic information on the real estate, the floor area or the year of construction of the property.
• Verify that there are no existing leases, so the seller must confirm whether the property is rented or leased prior to purchase.
• In addition to all of the above, there are other documents that the seller must give to the buyer before the purchase of the property, such as: the energy efficiency certificate, the certificate of occupancy or the first occupancy license (document that proves that the building complies with all the legal requirements to be used for residential purposes).

My team will advise you on any questions you may have regarding the purchase of your property, guiding you through the entire process from A to Z.

Relocation

We will take charge of all required formalities to sign up or apply for utility services such as electricity, water, gas and a telephone line for your new home. This includes the change of account holder or bank account and the preparation of the necessary documents for applying for utility services: Identity number for foreign nationals (NIE, which stands for Número d’identificació d’estrangers) or passport, bank details, lease number and start date, last utility bill and a certificate of habitability. This last document guarantees that the dwelling is fit to be lived in and is also essential for entering into a contract for any of these services. 

And of course not to forget the home insurance that covers loss and damage to your new house and household contents. In Spain there are two types of home insurance: buildings insurance and contents insurance. You can buy them individually or together as a combined policy. Which type you’ll need will depend on your circumstances. Of course, we will always be at your side to find the best deal for you.

Also we will suggest to you the best household moving companies in Spain that will offer you packaging materials and packing services, which ensures that all your belongings are safely loaded to a truck, shipped, and offloaded from the truck.

We want to provide you with as many moving resources as we can. We want to take the stress out of the moving process, and replace it with quality service you can count on. Our reloation service gives you the opportunity and flexibility to decide how much you would like to participate with your move, and we offer a comprehensive list of services that will help you plan and prepare with ease.

Renovation & Maintenance

Are you thinking of carrying out renovation works in your home but you are invaded by doubts and fears? Can I trust the professionals? Are we being deceived? Will everything be the way I want?

My team and I are aware of all these concerns, that’s why we have a team of specialized professionals that you will get to know from the very first moment.

You will be part of the project and you will be able to know first hand each of the steps that are going to be carried out.

It doesn’t matter if it is a complete renovation or a small change. It may be that you need to give a new air to your home, improve the lighting or paint the walls; or maybe you want to tear down all the walls and make a new room.

We know that the smallest change you decide to make in your home, is important, because if you don’t like it, it can affect your comfort.

In addition, from our Real Estate Agency in Valencia we can manage all kinds of administrative and municipal permits related to your real estate property. Licenses of habitability, first occupation and opening licenses for businesses, etc.

And of course, we must not forget, the elaboration of the energy certificate that is mandatory when selling, renting or buying according to Royal Decree 235/2013, of April 5. We collaborate with registered architects who are authorized to perform these types of services.

Financing your Purchase

At Michel Kataa Spain Real Estate Investments, we help you to find the necessary financing for the purchase of your property. We help you get the mortgage that best suits your needs and under the best conditions.

We do not represent any banking entity, but we keep ourselves informed of the mortgage conditions in the market to know which is the best option at the moment. Having access to this information allows us to help our clients negotiate better loan terms with their bank.

Each mortgage is different and the conditions vary depending on the applicant. We will prepare and help you collect the documentation, and depending on your financing needs, we will submit the application to the entities that we consider most suitable.

When we have a response from the financial entities, we will help you decide which one is best for you, and when you have decided, we will follow the procedures to ensure that the deadlines are met and so that the mortgage complies to what was agreed in the purchase contract.

Investment Plans

 Spain is one of the most attractive tourist destinations in the world. That makes it a very interesting market of opportunities for real estate investors.

Whether you are looking for a holiday home or a high yield real estate investment for short-term or mid-term, my team and I will be glad to hear from you and define the strategy that you want to adopt according to your goals and budget. 

We will prepare for you a global study of different scenarios that will include: a full investment research to analyze the supply and demand for each type of property, a presentation of estimated financial performance and ROA, options of property improvements (renovate to rent, full renovation to sell, house flipping strategy, buy and hold strategy, etc.), location and neighborhood study, determine the selling and buying price and a detailed market study.

I will be your partner for success and will accompany you in all phases of the investment plan that we have developed together. You will not feel unaccompanied at any moment, I will always be at your side for any doubts or queries.