The buying process in Spain

I have placed my deposit, what happens next?

A contract of sale will now be drawn up by the owner / developer for your agreement and signature. Make sure your lawyer scrutinises the document. He will advise you of any changes or further legal requirements involved. From here your lawyer will carry out the necessary searches and investigations on the property and land including covenents and restrictions.

Your lawyer will also ensure the safe transfer of money, that the title deeds are finalised and that the property is legally signed for and secured.

If you grant Power of Attorney to your lawyer, he will be able to complete the sale/purchase on your behalf, without the need for costly trips to Spain.

If you have bought a new home, you will be required to pay in stages. Payments vary from developer starting with your initial deposit of 3,000€, after 30-60 days you will pay a further 25-50% with the balance paid upon completion. You will get the exact requirements from the builder upon placing the deposit.

Other costs will need to be added for legal fees, Notary fees, land registry, VAT and stamp duty, this amounts to approx 10%. Your lawyer will confirm all costs for you.


Property for Sale Spain