Property purchase

We assume we have gone through the procedure of finding the ideally suited home for you and the price has been agreed, an appointed lawyer will obtain a search document from the Land Registry Office and if satisfied with the legal status of the property, will draw up a “Private Purchase Agreement” in which the terms and conditions related to the purchase will be established as well as the purchase price, date of deposit and date of completion. Both parties (vendor and purchaser) will sign this agreement and the purchaser in normal circumstances will then have to pay a 10 % deposit of the total purchase price which is usually paid into the lawyer’s client account. An inventory list forms part of the Purchase Agreement which ensures clearly which items of fixtures, fittings and furniture have to be left by the vendor.

Completion of the transaction in front of a Spanish Notary usually takes place between one to three month after the signing of the Purchase Agreement by which time the purchaser will pay the balance of the purchase price plus the lawyers’ and legal costs.

On the day of the conveying of the property into the purchaser’s name the Spanish Notary will obtain from the Land Registry Office the land search document (called Nota Simple Informativa) of that very day to ensure total security to the purchaser that everything is in order regarding the legal aspect of the property. With the Public Title Deed of Conveyance (called Escritura) the property is conveyed into the purchaser’s name and he will receive the keys and access from the vendor.

Our office will obtain all relevant bills for the service of electricity , water & telephone and also all tax related documents. We will then check with all the respective authorities that there are no open bills or other debts on the property. After the sale we will change all contracts into the purchaser’s name and we will set up direct debits for those payments.

We will also assist you in opening a Spanish bank account and should a mortgage be desired or necessary we will also assist you in all the steps to obtain a mortgage and help you negotiate to get excellent conditions for the mortgage.

The whole transaction will be supervised by the lawyer who the purchaser appoints (we have a list of bilingual lawyers) to make sure that from a legal point of view the purchaser is totally protected. The lawyer usually arranges the registration of the NewTitle Deed in the Land Registry office and is in charge of paying the legal costs such as stamp duty, notary fees, Land Registry Office fees etc. which go in-hand with the registration.

And after that it is to enjoy your dream house and spend many happy hours in it.