Buying property in Spain

Whether you are buying a holiday home or a property for permanent residence the procedure is the same.

newdevolp

If you are buying a “new build property” from a Constructor then the procedure is as follows, although it can differ slightly depending on the Constructor.

Once you have decided on your property you will be asked to put down a deposit, this normally varies from 3,000 euros to 6,000 euros.

The Constructor will prepare a reservation document which you will sign. This reservation document is between you and the constructor. Normally once this is signed and your deposit paid, the deposit is then non-refundable should you cancel.

If the property is under construction you will be asked to pay 30 – 50% one month from the signing of the reservation contract. No other money is paid thereafter until the property is complete and signing at the Notary.

A few days before the Notary date you will be invited to pre-inspect your property.

Before you can sign for a property at the Notary everyone going onto the Title Deeds will need an NIE number (Numero de identification Extranjeros). This we or your solicitor will take you to apply for.

The Notary – the Notaries are qualified members of the legal profession and governed by the Spanish authorities. When signing for your property it will be done in a Spanish Notary. This is normally the time that purchase money is handed over to the seller. Your solicitor will be present with you or you can give Power of Attorney to him. Once signed you will receive the keys to your new property.

resale

You normally then have 15 days to produce a snagging list to the builder for your property.

If you are buying a “resale property” then as above you will be asked to pay a deposit. This can vary from 3,000 euros to 10% depending on the seller. A contract will be drawn up between you and the seller. A Notary date will be set at this time. Again for each person going onto the title deeds they will need an NIE number.

Orihuela Costa Properties will be beside you every step of the way throughout the procedure but also we are there to support you with any aftersales issues you may have.

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