Home Property in Andorra
How to buy a house in Andorra?
Here you will find the detailed information about real estate purchasing in Andorra:
- the right way to choose the property and to effect the deal;
- property taxes and duties that should be paid;
- everything about home loans in Andorra;
- home property management and renting;
- rental, commercial properties and related investment properties.
Real estate for sale
Most recent offers from house owners in Andorra and from real estate agencies. Advertisements with the fixed price and auctions are listed here.
You can leave a comment and give advice to other visitors planning to buy a home in Andorra.
In the country of Andorra foreign nationals can buy any objects of real estate. But there are also some restrictions, for example, it is possible to get only one apartment, and a floor-space of a marital home or a homestead shouldn't exceed 1 000 sq.m.
There are some moments to be considered when purchasing the real estate:
- Acquiring accomodation on the primary market be convinced that your developer is not the bankrupt;
- When drawing up the contract you should specify the object that you are obtaining certainly: a building or several buildings; all possession and whether it is at the ground. If all possession is got, it is necessary to specify the size of all constructions and their assignment. The exact plan of a location is also necessary. If this details are not specified in the contract, the location remains in property of a seller. There is no need to discuss the consequences of it;
- When buying a building you should discuss all details in full: the floor, existence of extensions, terraces, a cellar, etc. Without such details having specified in the contract, further it can appear so that the seller wasn't going to vend a penthouse or a wing to you. Or it can happen that you will have to pay money for a parking place or a pass to your own house allegedly through the territory of the others. The conflicts will arise and you will have to sell the house for a song in order not to take part in them;
- Consider that winters are cold here. Pay special attention to quality of the building, its thermal insulation and sound insulation as well. Houses with bad thermal insulation cost cheaper in Andorra.
Purchase And Sales Transaction
If the parties have agreed all details of the transaction, the purchaser transfers through his agent the deposit of 10% of property cost into the account of the seller in a local bank. It is compensation in case if the purchaser will refuse acquisition of accomodation. After completion of the transaction this sum will be returned to the purchaser.
At the same time the foreign national has to write the application in authorities on permission to get real estate. He has to specify the goal of purchasing of real estate and all its parameters. The cost of such permission is from 103 to 190 euros. After its receiving the seller goes together with the purchaser to the notary office where the contract of title transfer – Escriptura Publica – is formed and signed up.
The contract is signed by the notary officer who checks the documents carefully and bears full responsibility for compliance of the transaction on the current legislation. After that the purchaser has to transfer money and receive keys from the seller.
Documents are executed during one – two months.
Expenses On Purchase And Sales Transaction
The total cost of executing of the transaction is about 9,57 – 15,07% of real estate cost. It covers:
- Tax on the transaction – 3,75%. It is paid by the purchaser. A half of the tax is remitted to the central power, and the second one - to the local power;
- Notarial services -0,5-1%. Are paid by the purchaser;
- Intermediary services – 5-10%. Are paid by the seller;
- Transfer of a title – 0,07%. It is paid by the seller.
Additional expenses involve payment for services of a lawyer, a translator, a civil engineer checking quality of accomodation and its compliance to the declared characteristics. There can be additional taxes, duties and fees which concern operation of housing stock and the territory improvements.
On the territory of Andorra there are four notary offices that work with executing of transactions the details of which are not available to the third parties. Russians who have not opportunities to be in Andorra for any reasons, can employ the lawyer who will carry out the purchase and sale transaction and will process all necessary documents. For the country such practice of carrying out of non-face-to-face tales is quite usual. In some agencies of Andorra such transactions makes about 75%.
The text of the contract of real estate purchase and sale is approved by the government of Andorra and is standard. When purchasing real estate the contract is signed in the presence of the notary who checks all payments and agreements before drawing up and signing of the certificate on title transfer. The notary officer has right of access to the register of any real estate in Andorra. The register isn't public that excludes possibility of access to the information on owners of real estate for the third parties.
At the moment of purchasing real estate in Andorra it is recommended to issue the will on all property and available assets which are in the country. Automatic inheritance of the property rights by spouses is absent in the country of Andorra. Notarially issued will cost about 90 euros.