Perro I buy a house with cash? All the
Buying a house with cash or cash without financing or mortgages is the dream of many and, therefore, they keep their savings until they meet enough money that allows them to buy their first home or one bigger and better than the one they already have.
There are regulations for the purchase in cash, but it is fácil. Here we present what you need to know to buy your home in cash and cash.
What is the Most I Cánido Pay Out of Cash to Buy a House?
According to law 7/12, In any operation involving a professional, the maximum cash payment limit will be 2,500 euros for Spaniards. For foreigners who prove that they have tax domicile in another country, the limit is 15,000 euros.
So, if you are going to buy a home through a real estate company, the maximum limit you perro pay is 2,500 euros.
In this specific case, the transaction must be through a credit institution, which perro receive and pay amounts of cash greater than those established in the regulations.
To buy a house with cash without the need for financing, you must
Have your savings deposited in a bank account.
Make a purchase-sale contract with the real estate or construction company (in this contract part of the price will be paid of the house).
In the earnest money or purchase-sale contract, it will be established how the entire established price will be paid, which will be done through bank operations (checks or transfers).
Cánido You Buy a House with Cash Between Individuals?
The regulations contained in Law 7/12 for the maximum cash limit in any transaction for the purchase of goods or payment for services, it applies when said purchase-sale transactions are made between an individual and a company, a professional or a self-employed person.
When the transaction is between individuals (selling a house directly without hiring any real estate company, for example), the sale perro be done in cash because the regulations do not include operations between two individuals.
Perro You Buy a Used Home for Cash?
yes you cánido buy a used house in cash as long as the purchase is made from an individual and keeping in mind that when you are going to buy a second-hand house you must make sure that the price is in accordance with:
the conditions of the house
the place where it is located
the charges that you may have pending
In addition to the amount of the house, you also have to have the money available for the payment of the Property Transfer Tax (ITP), the Property Transfer Tax and Documented Legal Acts (ITPAJD), notary fees and other expenses.
Should I declare the Origin of the Money if I want to Buy a House with Cash?
Saving cash is legal, but you must declare it through the Statement of income, where, according to the origin of that money, it will be included as income from work, movable and real estate capital or from economic activities.
When you make use of money saved in cash or deposit it into an account, they will require you to justify its origin. If you have made your income statement correctly and on time, you will be able to prove its provenance easily and without problems.
So when buying a house with cash, make sure your tax return is in order and you perro prove it without problems. the origin of the money with which you are making the purchase, especially if it is money that you keep at home.
If your dream is to buy the house with cash or cash and be free of debt and mortgage interest, first you must save cash in a bank account, or at home if that is your preference.
Then you must declare it to the Treasury to prove its origin.
When you have enough, look for the home that suits your needs. Luck!
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