When we are thinking of buying a house we have to answer many questions before making a decision that will affect our pocket and comfort, since, if we think of buying a housing it can be about the most important investment in our life. Let us think that if we are buying a home, we must have a series of very clear points.

• Calculate the price
• Choose a neighborhood
• Orientation of the house and its qualities
• All the legal information that it is necessary to verify

The price in which a housing is valued is proportional to its size in meters
squares, but these can be expressed in a different ways:

Useful surface: these are the square meters included housing and the balconies

Built surface: these are all the square meters of the housing, patios and conduits of
ventilation

Computable surface: this is the built surface, more the proportional part of goal,
stairway and roof

When buying a housing you should make sure that is current of community payments, taxes and also if it is free of any obligation types, mortgages, seizures
judicial etc. All this information will help in the Registration of the Property.

If the housing is affected by some urbanization plan , the societies of Appraisal can help you to know the urban situation and provide information about the property is being housed; this it is a Certificate sent by the City council in which contains the urban situation of the property.

The acceptance of the purchase conditions - sale that is carried out through the contracts of adhesion and the general clauses that one updates from the previously parties. The signature of the public writing is the moment summit of the purchase of the housing, and this is inscribed in the purchase in the Registration of the Property.

PARTICULAR

• Photocopies of DNI.
• Photocopies of the last 3 payrolls.
• Photocopies of the last declaration of the rent.
• Photocopies of the receipts of contribution of the properties that are possessed.

AUTONOMOUS - PROFESSIONAL

• Photocopies of DNI.
• Photocopies of the last rent and of the fractional payments.
• Photocopies of the last IVA and of the fractional payments.
• Photocopies of the fractional payments of the year in course of IRPF.
• Photocopies of the fractional payments of the year in course of the IVA.
• Photocopies of the tax on economic (IAE) activities.
• Photocopies of the receipts of contribution of the properties that are possessed.

DOCUMENTACIÓN ADICIONAL

• Photocopies of the deeds of the housing that is wanted to acquire.
• Sale and purchase (if it is possessed) contract.
•Contribution (IBI) receipt if it exists (if it is not a new construction) of the housing to
to acquire.
• If you had an appraisal of the property, contribute it.

The expenses that affect to the purchase of a housing, come determined by all and each one of the different professionals that you/they intervene in the operation, these they are the following ones:

- One Would Notice It: The Notary's participation is of supreme importance in the operation of purchase-sale; on one hand it acts as advisory independent of the parts, that is to say salesperson and buyer and for another it intervenes as public fedatario giving certainty and artificial guarantee to the content of the purchase-sale writing.

- The Registration of the Property: It acts in two phases. In the first phase, before the purchase, this it sends a document call he/she notices simple informative that specifies the loads that burden the housing that is sought to buy. In the second phase, with posteriority to the purchase, it registers and it inscribes the sale and purchase writing that certifies that you are the new owner of the housing.

- The Lawyer: It is necessary the intervention of a Lawyer in exercise so that it advises us legally about all the entresijos that relapse on the purchase-sale operation.

- The Administrative Agent: He/she will take charge of retiring, previous payment the writing of purchase-sale of he/she would Notice it, to liquidate and to pay the inherent taxes to the operation of the acquisition of the property.

-The Taxes are paid in the acquisition of a housing and these they come to suppose, more or less, I half-close to 8% or 10% of the value of the housing.

The necessary documentation to acquire a housing, it must contribute to he/she would Notice it so that later on he/she makes the writing and it is different in function of yes the housing is of new construction or of second hand.

- New construction Housing:

The identification urbanística is the document sent by the City council

The cadastral identification: it is the document sent by the cadaster, it picks up the cadastral value transcendent to fiscal effects as IVA, IRPF etc.

The identification of habitability: it supposes the suitability of The housing for the use to that it is dedicated.

- Second hand housing:

Last receipt of the tax on Goods Properties paid by the salesperson. It notarizes original of property. Certification sent by the president of the Community of proprietors.

The mortgage loan is a granted loan and granted by a financial entity and of credit that is guaranteed by a good property, that is to say in the hypothecary loan the Bank is the one that allows him/her to make his the housing. The qualities that one should have the hypothecary loan are the following ones:

- Care maximum: the quantity of the amount that an entity facilitates them

- Term of the loan: the term can be since a condition a short term it implies
higher quotas. A bigger term converts the loads of the loan in more affordable

-The paying-off: it is the payment of the pending capital. The paying-off of the capital goes being bigger as the life of the loan advances

- The quota: it is the amount that commits to pay periodically who subscribes a
mortgage loan to the financial entity that has granted it to him. They can be monthly,
quarterly, biannual or yearly.

- The lack: one refers a period in which the paying-off part is not paid of
capital and the interests of that capital are only paid.

The type of interest is since a very important aspect of the loan together to the term it determines what you will pay throughout the years and of the life of the mortgage loan. The types of loans are the following ones:

- Mortgage loan to fixed type: they give a certain security, if the types of interest ascend,
it won't be affected, but one has an inconvenience and it is that if the types lower they won't be able to benefit

- Mortgage loan to variable interest: it is usually that that varies in the time, each
year or every six months

- Mortgage loan to mixed interest: they combine one period in which the interest remains fixed and another in which this is variable and he/she leaves adjusting to the market

- Mortgage loan of fixed quota: they are loans to variable interest but with a quota of
fixed paying-off.

When to buy a house and to request a loan, the doubts that arise are generalized, mainly as for the type of interest that one will choose: fixed or variable.

The first thing that it is necessary to have clear between both is the difference: we speak of types of interest

Fixed when a well-known type is applied previously and it is the same one during a lifetime of the loan. However, it is Variable when a type of interest is applied indexed to an index that varies throughout the life of the operation.

Other third via the type of Mixed interest that is about mixing both previous types. It could be said that is a loan to variable type but with an initial period to type fixed superior to one year.

Characteristic of each loan

The function of the type of interest that is chosen when requesting the loan, those
characteristic of this can be very different:

In the case of opting for the Fixed Interest, the quota to pay monthly will always be
constant. The great advantage of this is that they offer the possibility to plan with certainty the part of revenues that we will dedicate to pay the installment during the period of time that the loan lasts. Among their inconveniences it is necessary to highlight the obligation of paying a bigger cancellation (up to 4%) commission that is of 1% in the case of the Variable. This means that they will rise in price the option of canceling the operation in a future, in the face of the possibility of finding a cheaper credit. However, the great inconvenience is that the different entities accustom to limit to 15 years the maximum term, in front of the 30 or 35 years that can end up offering in loans to variable type. This forces the client that wants to request the loan to very long term to decant for the variable interest.

On the other hand, the Variable Interest offers some radically different conditions. Its
main characteristic is that every year, or period, the quota will be revised to pay every month in function of the evolution of the reference index (Mibor, Euribor, Mint, Debt
Public...). Also, to the index he/she is applied a differential and, in some cases, a later rounding to the quartile superior that will give us the type applied in every period. These loans begin from among with an initial period six months and one year in which one can enjoy a type of fixed interest that is usually low, with which the entity looks for a commercial effect.

This way, when variations take place in the types, the consequences in one or another case are inverse. This way, in case the types ascend, the matter that he/she has chosen a loan to fixed type will be beneficiary, I didn't seize when the types lower. In this last case, they will be the clients that have decanted for the loans to variable type those that will come out winning.

The Bank of Spain is the one in charge of defining the types of reference officials for mortgages. If the financial entity uses other references that are not the official ones, they have the obligation of notifying each client the variation of the type of interest.

-The Annual Equivalent (TAE) rate is the result of a mathematical formula that incorporates the type of nominal interest, the commissions and the term of the operation. TAE is a reference to have a vision beyond what is the the first year-old proportional interest.

The reference indexes are the following ones:
Index of mortgage loan of the banks: it is the type of half interest of the hypothecary loans to more than three years and it is expressed in TAE. Index of hypothecary loan of the Boxes of Saving: it picks up the types means of the contracts of mortgage loans formalized in the Boxes of Saving. It is expressed in TAE.

Index of mortgage loans of the group of the credit entities: it includes the types communicated by the Banks and the Boxes of Saving.

Index MINT of the types of active: it is a stocking of the annual equivalent (TAE) types applied so much by the Confederate Boxes of Savings to the mortgage loans as to the personal loans.

Type interbancario to one year (MIBOR): he/she is defined as the average of the price or type of interest to the one that the Banks and Boxes are lent money in the monetary market or of deposits interbancarios.

You are only obligated to buy insurance of damages that covers the value of the appraised property, of agreement with the Law of the Morgage Market. The lack of insurance is considered a serious infraction of the entity radio station of the mortage loan. It is convenient to cover possible contingencies with insurance types mentioned next:

Multirisk of the Home Insurance

Paying-off Loan Insurance