We will be working for you even before you get to Spain. By talking through your requirements, such as type of property, location and budget, we will be able to thoroughly research every available suitable property for you. This ensures that your trip to Spain will be worthwhile, and there will be no unnecessary time wasting. Your time in Spain is valuable and we will ensure that that time will be spent exactly how you would wish.
We will guide you every step of the way through the process of buying a home in Spain. We can help with opening bank accounts, introduction to solicitor, arranging a mortgage if required, and appointments at the Notary. Our after sales services include shopping, school search, registration at the local town hall and application for NIE number.
Prior to viewing
Before visiting Spain you should make sure that you have sufficient funds to cover the Reservation Deposit for your property, usually €3,000 and paid by cash or more favourably credit card. This deposit will then reserve the property.
This deposit is refundable if the vendors change their mind but is not refundable if you cancel. Paying the deposit secures the property at the agreed fixed price and also takes the property off the market so making it unavailable to any other potential buyers.
Work out your budget and remember to add 10% to the buying price to cover the fees that come with buying a property. These fees are made up from, Land Registration, Legal Fees, Notary and VAT etc.
When you find a property that meets your requirements:
The Purchase Procedure
When you find the property you pay a securing deposit of €3000. Your lawyer (Abogodo) will perform all the relevant checks and at an arranged date usually in 30 days you will sign the title deeds (Escitura) with the vendor in front of the Notary.
Appointing a Lawyer
When you plan to buy you must take expert, independent, legal advice.
If you have not previously appointed a local lawyer as part of our service we will arrange one for you. The lawyers we use are English speaking. They will be members of the provinicial lawyer’s association (Colegio de Abogados) membership of which is compulsory and all members are covered by professional indemnity insurance.
The lawyer will carry out the following checks:
The property belongs to the vendor
Make sure there are no tenants
Make sure there are no pre-emption rights over a property and no construction plans nearby that would adversely effect the value and enjoyment of the property.
Checking the boundaries
Checking the planning or building permits are in order.
Checking that there are no encumbrances or liens e.g. loans or mortgages or outstanding debt.
Checking all other requirements, e.g. fixtures and fittings
Notary’s duties
Since 1993 a notary has been required to make a check of the property register (registro de la propiedad), such as the name of the title holder, description and whether there are any charges or encumbrances against the property, prior to the signing of the deed (Escitura).
Your sale is formally completed when the final payment, the purchasing fees are made and the public title deeds are signed in front of a Notary, then possession is given to you with the handing over of the keys.
Registration
After the deed is signed and the new owner’s names are entered on the deed, it is then lodged at the property registry office (Registro de la Propiedad).
The information supplied here is just a brief outline of the procedure involved in purchasing a property. On your visit with us we will explain the exact procedure in more detail answering any queries that may arise.