Process for Buying a Property in Spain

  • Once your offer to buy has been accepted ensure that your lawyer is given all of the necessary paperwork and that they understand details of your offer, what is included in your offer and what has been agreed regarding payment, charges and timescales.
  • Ask your lawyer to make the necessary legal checks on your behalf and to confirm they have seen an up to date nota simple and land registry extract.
  • Agree with the seller and your lawyer when you can all be physically present in Spain to sign the deed of sale (escritura) so that this date can be reflected in the Private Contract.
  • Private Contract – your lawyer will then prepare the Contrato Privado de Compraventa between you and the seller. Make sure that this document covers all the necessary clauses required to protect you and your purchase before you sign it.
  • On signing the private contract it is necessary, as detailed in the contract, to make a ten per cent deposit towards the purchase price direct to the seller’s bank account. Ensure you keep a receipt to show proof of the deposit transaction as this will be required by the Notary on signing the deed of sale.
  • Between signing the private contract and signing the sale of deed (escritura) appoint a Power of Attorney if required and organise getting the purchase monies to your bank account in Spain in good time.
  • Before the completion date ensure that your lawyer makes final checks about the property and your purchase.
  • Organise your travel to Spain once the details, time and place for the deed of sale signing are confirmed.
  • Ask your lawyer for a provision of funds in advance of the completion so that you know exactly what you have to pay and so that you can inform your bank in Spain in advance of your requirements for the deed of sale.
  • On the day of completion collect the necessary funds for the completion from the bank before you head to the Notary’s office to sign the deed of sale. Your lawyer will normally accompany you.

After Buying a Property in Spain

  • Once the transaction has been completed and Notarised then the taxes and Notary fees (associated with the purchase) must be paid and then the new property ownership can be updated at the land registry.
  • On completion, ensure that you settle your lawyer fees, estate agent fees and any other service costs.
  • You will also need to make arrangements to change utility contracts and services into your name.
  • Perhaps you need to consider property insurance and any will requirements.

Please note that this information is meant as a guide only, local laws and figures can change from time to time. In all circumstances we recommend that you take professional local advice regarding your personal situation.