The Buying Process

The process of buying a property in Spain differs slightly to what you are used to back home. Basically, after you have made up your mind about the property that you want, you will be required to put down a deposit to secure the price and take it off the market. This amount would normally be 3.000€, although it might differ depending on the development or the resale. This amount can be refundable in some cases.

A first payment is due shortly after the deposit contracts have been signed. This is where you would sign the contracts with the developer. Percentage to pay would again vary for new properties, but it is normally 10% of the value of the property in the case of a resale purchase.

An Abogado – Spanish for solicitor, is essential when you buy a property. The Abogado will represent you in the sale and will do the necessary research to make sure that what you are buying is free from debts and burdens. They will also advise you about all the red tape that is needed when owing a property in Spain.

Once all contracts are clear and you are happy to go ahead, the Escritura Publica– title deeds, will be signed between four and twelve weeks in the case of a resale, and whenever the development has been completed, in the case where you are buying an off plan development. At that moment you will get the keys of your property in Spain and we will welcome you to your new life in the sun.