Our real estate agency “Eten Canarias” offers our guests a tour through the property sector.
Selection off the Properties;
At your arrival at Tenerife, our real estate agency will provide you with free advice and detailed information about the property market on the island, the benefits of a particular area of residence, conditions of sale, property registration, issuance of mortgage loans, etc.. We will also accompany you, if you wish, to visits the selected properties.
Analysis of legal clarity;
Free services include complete analysis of the properties for legal clarity. The buyer receives an extract from the Land Registry of the Spanish State with complete information. We not accept a deposit for the seller without having received full information about the selected object, and after making sure that the property is free of debts or charges in addition that the seller is the true owner of that object.
A bank loan in Spanish
The agency “Eten Canarias” works with leading Spanish banks and they have the best conditions to offer mortgages to foreigners. We can offer up to 65% financing of the property to buy. The mortgage loan is supported by the property itself and the owner of it is always the customer. The current interest rate of mortgages in Spain goes up from 4 to 4.5%. The rate is calculated by the formula EURIBOR + 2.5% (Euribor – the rate of European Interbank, and 2.5% -. The percentage of a commercial bank. Certain commercial banks may be 2.75 percent , or 3%). Mortgage loans are released for up to 35 years and the maximum age of the borrower in Spain is 75 years. In this case, the borrower has the right to cancel the loan before term by paying a penalty of 0.5% of the loan balance (ie the balance € 100,000 fine of 500 €).
The signing of the deed
The agency “Eten Canarias” acts as your official interpreter signing the deed before the Spanish notary and is responsible for a complete and accurate translation of it´s text. After paying the seller and signed the deed, you become the official owner of the property you purchased. The Solicitors and Notary will carried out all subsequent steps, paying taxes and registration of ownership for the new owner. All original invoices related to the sale will be given to you or your authorized representative within 30-60 days after the signing.
Registration of contracts for public services and registration at City Hall
After the signing of the deed, the agency will check that all contracts with city services are registered on the name of the new owner.
How to minimize the tax on capital gains
If you decide after a few years to sell your property, you can get capital gains. In Spain the tax on profits from the 2007’s to 18%. In this case, the Spanish legislation avoids this tax if profits are reinvested in the purchase of any other real estate in Spain. “Eten Canarias” offers the services of one of the consolidated law firms in Tenerife for the registration and tax minimization.
Taxes on real property in Spain is much lower than in other EC countries. This is about 0.15% of the assessed value of the property.
Property Management and leasing
Most of our customers do not buy properties for permanent residence, but in order to spend their holidays in Tenerife, for their family or friends. In his absence, it is important to have a trustworthy person who has the care of his “second home” in Tenerife. Our company offers a complete service. We insure your property against risks, solve all the problems at home, foreign tv channels, control of the payment of all taxes, cleaning, gardeners, Babysitter, drivers, translators, interior designer. For those who wish to rent their property, we will provide a personal consultant who will carry out all matters associated with the rent.