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COMPREHENSIVE GUIDE

BUYING PROPERTY IN TENERIFE

A clear, transparent journey to securing your paradise. Our step-by-step breakdown ensures peace of mind during the acquisition process.

01

Initial Study and Budget

Initial Study and Budget
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Before starting, we analyze your needs, budget, payment method, and, if you require financing, your real mortgage capacity.

02

Property Search

Property Search
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We select properties that match your needs based on area, price, features, and purchase objective: primary residence, second home, or investment.

03

Property Viewing and Analysis

Property Viewing and Analysis
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We visit the property and review key aspects such as general condition, layout, location, available documentation, and any possible charges or issues.

04

Legal Verification

Legal Verification
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We request and review the Property Registry report (“Nota Simple”) to confirm ownership, charges, mortgages, embargoes, or any legal limitations. The Nota Simple can be obtained through the Property Registry or the Spanish Registrars Association.

05

Purchase Offer

Purchase Offer
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If the property fits your needs, we present a formal offer to the owner including the proposed price, conditions, response deadline, and financing conditions if applicable.

06

Reservation or Deposit Contract

Reservation or Deposit Contract
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Once the offer is accepted, a reservation agreement or deposit contract (“Contrato de Arras”) is signed, establishing the purchase price, deadlines, amounts paid, and conditions of the transaction.

07

Mortgage and Valuation

Mortgage and Valuation
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If financing is required, the bank studies the operation, requests the valuation report, and once approved, issues the FEIN document. In Spain, there is a mandatory minimum period of 10 calendar days before signing the mortgage deed before a notary.EXPLORE FINANCING OPTIONS

08

Preparation for Completion

Preparation for Completion
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We coordinate with the notary, bank, legal representatives, and all parties involved to prepare the required documentation: ID/NIE, certificates, payment methods, mortgage cancellation if necessary, and allocation of expenses.

09

Signing at the Notary

Signing at the Notary
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The buyer and seller sign the public deed of sale before the notary. At that moment, the agreed payment is completed and the property officially transfers to the buyer.

10

Taxes and Registration

Taxes and Registration
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After signing, the corresponding taxes are paid. In the Canary Islands, the general Property Transfer Tax (ITP) for resale properties is currently 6.5%, although reduced tax rates may apply depending on the case.

11

Registration and Final Handover

Registration and Final Handover
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The deed is submitted to the Property Registry and, once registered, the buyer becomes the official registered owner. Utility transfers, community registration, and local property tax (IBI) changes are also managed.

YOUR PROPERTY ACQUISITION

Share your exact requirements with us. Our specialists will craft a bespoke search strategy to secure your ideal home in Tenerife with complete peace of mind.

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BEGIN YOUR SEARCH

Share your requirements with us. Our specialists will reach out to craft a bespoke property acquisition strategy just for you.

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