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

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 depending on the constructor of course there will be other staged payments.  This differs depending on build time etc.  Most normally ask for 30% after one month and then another payment after 2 months.  Normally they like 50% up before then the rest on completion.

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 solicitor will take you to apply for.  We normally try advise our clients to give Power of Attorney to the lawyer so they can act on behalf of the client when they are not here.

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 they will receive the keys to your new property.

You normally then have 15 days some constructors give 30 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.

Costs for buying the property.

Without mortgage we normally advise clients they will need 13% on top of the purchase price.  10% of this is tax to the government the rest for Notary fees, Land Registry fees etc.

For new build around 14% as the tax is 11 1/2%.

If the client is taking a mortgage here in Spain then again the fees will be another 1 to 2% higher for administrations costs etc.

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