Buying in Spain

The purchase process in Spain is not inherently
complicated but it can pose difficulties to foreign
buyers due to the language barrier and the unique
characteristics of the Spanish legal and tax systems.  Below we have broken down the purchase process into some simple steps:

1. Private purchase contract: This reservation contract has to be signed and 3000 euro of reservation fee has to be payed

2. Control of all the paperwork of the property (Due Diligence), this is a comprehensive study of the
property and ensure that the purchase is entirely
legal and safe

3. If everything is okay, we go ahead and the buyer pays 10% (- 3000 euro)

4. Payment methods are to be stipulated in the contract that everyone has to agree

5. Buyer needs a NIE number and a bank account in Spain in order to proceed! If you are a non-resident the Spanish Ministry of Interior requires you to obtain a certificate of non-residency, which in turn determines your fiscal number, so that you can sign the title deed. It will also be required later in order to pay taxes. This document is known as an NIE number. As from 1st January 2012 local police stations are not accepting NIE applications through a power of Attorney; clients must now apply for their NIE personally at the police station or at Spanish Consulates / Embassies.

6. Before completion at the notary there is a house and inventory check by all parties

7. Final payment will be made at the notary when the keys are handed over. We will carefully check the contract, ensure that
everything is in order and once satisfied that
this is the case, all parties sign, also COBAT

8. Registration of the deed and payment of the costs involved. We will calculate exactly how much is owed
for taxes & fees, inform you of
the amounts, and make sure all payments are made

9. Utility companies have to be informed (water, telephone, electricity, gas, etc...)