-Steps to buy a property in Valencia (3). What do you need to know after the purchase?

 

There are several administrative steps that must be taken after the purchase of a property that you need to understand.  They are normaly carried out by an administrative manager (Gestoria) from the  same real estate agency or from the notary, but just for information:

  • Pick up the official deed of the purchase (will take several days after the purchase).
  • Pay the corresponding 10 % tax of the purchase to the government and justify the payment to the central administration (during the first month after the purchase).
  • Present the official deed of the purchase to the corresponding registry of the property and pick up it once they finalize with the procedure, and pay the corresponding fee (It takes more than one month).

You will also need to:

  • Change the ownership of supply contracts to your name (water, electricity, gas, internet.. etc..). The agency will support you to do so.
  • Contract an insurance for the property. Your bank will probably offer you one.
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