The buying process in Spain
The common way here in Spain is that a foreign buyer hires usually a solicitor to assist them when purchasing a property. In most cases we represent the seller party, therefore the buyer should have a neutral solicitor to avoid any conflicts of interest. We collaborate with various companies that speak multiple languages (English, Swedish, Russian, French, German), therefore we may find a solicitor who speaks even your language! Everything will work as smoothly as we would be all under the same roof..
The purchase process is always the developer/seller oriented, but the main features are the following:
Resale
The seller can be a private person or a real estate agent. If you are buying directly from the owner, make sure that you are familiarised with all the paperwork needed during the process.
1. Sign a purchase contract and make a transfer of deposit, usually around 3000 € (less than 100 00eur) or up to 10% of the purchase price (higher than 100 000eur).
2. Sign a Title Deed at a Public Notary in 30 - 60 days from the reservation
New Developments
The process in this case is different for buying a resale property as the seller is the developer, and the development may not be built yet. The steps for buying a new construction are the following:
1. Sign a deposit
2. Sign a Private Contract specifying the completion date and property handover as well as the payments to be made to the developer before the handover
3. Sign the Public Title Deed and the Mortgage Deed (if the purchase is financed using a mortgage)
Signing the Title Deed
1. Be there early! 2. In case you do not speak Spanish, you need to have an interpreter. The Notary does not sign any papers if one of the parties does not understand Spanish and does not have an interpreter present.3. You need an original NIE document. A copy is not sufficient.
Or you can avoid all the hassle in the Notary office and let your solicitor sign it by a Power Of Attorney!