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Guide to Buying Property in Spain

This is a brief overview of the processes involved when buying property in Spain, you're lawyer will be happy to explain the process in more details.

• RESERVATION DEPOSIT
• EXCHANGE OF THE PRIVATE PURCHASE CONTRACT
• BEFORE COMPLETION
• COMPLETION
• AFTER COMPLETION

Reservation Deposit

Once you've found your ideal home you simply reserve the property with a Reservation Deposit. A deposit between €3000 - €6000 Euros is usually sufficient

Paying the reservation deposit guarantees two things. Firstly it ensures that the property is taken off the market and is reserved for you. Secondly it fixes the price at the agreed amount, which in turn stops any price increases affecting you.

The deposit is refundable if the vendors change their mind but is not refundable if you cancel.

If you haven't previously appointed a local lawyer, we will be happy to recommend a Spanish lawyer who speaks both English & Spanish for you. They will explain the procedures for buying in Spain and all the associated costs. As a guide you should allow an additional 10% for transfer costs.

From now on, up to, and even after completion of the purchase, our team of dedicated professionals and your lawyer will take full responsibility for the entire transaction, advising you, and keeping you up to date every step of the way.

Exchange of the Private Purchase Contract

Once you've paid the reservation deposit, you then have a period of up to 30 days to exchange the private purchase contract with the vendor.

Your lawyer will take care of this for you, before he exchanges contracts he will have completed the detailed searches and investigations at the Land Registry in respect of the property.

Before your lawyer exchanges contracts he will have completed the detailed searches and investigations at the Land Registry in respect of the property.

Before Completion

With a new property, before you instruct your lawyer to complete the purchase, we will take you to your property so that you can inspect in detail and list anything that might need putting right.

Once rectified to your satisfaction, the title deeds can be signed.

Completion

Finally, on the day set for completion we will take you to the Notary Public with your lawyer to sign the Title Deed, making the final payment to the vendor who simultaneously passes you possession of the property and hands you the keys.

At this stage the sale is completed. Immediately after completion the Notary will fax details of the title deed to the local Land Registry confirming your identity as the new owner.

In this way the Notary and Land Registry are acting jointly to protect and guarantee your interests.

After Completion

We are here to help you after you have signed for your property, with everything from assisting you with furnishings, right through to telephone connection. We can also provide you with information required to enrole your children in Spanish school, right through to recommending professional trades people such as satelite televison and landscape gardeners.

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• |
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• |
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• |
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• |
• CONTACT US
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