The Buying Process
Using the services of a reputable agent, someone you trust and you feel comfortable with is really important. They will be your eyes and ears at all stages of the process.
Once you have decided which agent you are going to work with and the type of property you are interested in then the fun part begins – looking for the property itself.
When you find a property you love and the price has been agreed the first thing to do is to remove it from the market by creating a reservation contract – a written contract between you and the vendor – setting out details such as the purchase price and any special conditions along with a period of time for all of the relevant checks and searches to be carried out.
In most cases a €6,000 reservation made using your credit card will be sufficient to reserve a property. This is held by your lawyer until he has checked all the paperwork, made sure that there are no debts attached to the property and that everything is legal and above-board.
If this is not the case then the full deposit is refunded.
If there are no problems and both you and your legal advisor are happy to go ahead you then move on to the Private Purchase Contract and agree on a mutually convenient completion date.
The final part of the process takes place in the Public Notary’s office. On the date of completion the contract is signed by both parties or their representatives here in Spain, the balance of the purchase price is paid – and the keys are handed over to you.
For more information and a comprehensive guide to buying a property in Spain please download our
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