Buying a property in the Costa Blanca can be both thrilling and daunting.
Here’s a list of the 5 most crucial words you'll encounter during your buying journey, along with their translations and meanings:
ESCRITURA (Ess-kree-tour-a) - Title Deeds: These legal documents serve as proof of property ownership.
NOTARIO (No-ta-reo) - Notary: A government appointed official responsible for preparing and certifying the title deeds.
REGISTRO DE LA PROPIEDAD (Reh-hist-row Day La Prop-e-eh-dad) - Land Registry: The official registry where property ownership records are held.
HIPOTECA (Ippo-tech-a) - Mortgage: A loan secured by the property being purchased, typically used to finance the purchase.
N.I.E. (Numero Identificación Extranjero) (New-meh-row E-dent-if-e-kath-eon Ex-tran-hay-row) - Foreign Tax Identification Number: A unique identification number assigned to foreigners by Spanish authorities for tax and administrative purposes.
While initially daunting, with practice, you'll find yourself becoming familiar with these essential terms, empowering you to navigate the buying process with confidence. ¡Buena suerte! (Good luck!)
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