Guide to buying property in Spain

Buying a property in Spain can be as simple or as difficult as you, the buyer, wishes to make it. When you buy with us we will ensure that your venture into the Spanish property market is secure and hassle free. If you are not buying with us you need to understand the rules and see that your representative acts correctly on your behalf.

OUR FIRST ADVICE TO YOU IS: DON’T JUST LEAVE THEM TO IT; MONITOR THE WHOLE PROCESS FROM START TO FINISH YOURSELF.

Alan James, President & CEO, The Experience Group Spain.

In our experience in Spain over the last 40 years, it has become obvious to us that those clients who seek out good, sound advice initially, ensure that the rules are being adhered to, and who are ready to follow certain guidelines, are the ones who inevitably find the road to that secure and happy investment. Full information on costs and procedures as included in this article are considered by this company and its experienced principals as essential for our many clients.

To purchase a property in Spain access to the following documents is essential, and will not only ensure you the buyer a secure title, they are also legally essential in the preparation of the new deed and in after-sale alterations to Electricity and Water standing orders etc:

• The old deed (escritura).
• A Community certificate where applicable signed by the President of the community
• Copy of search from the registry (Nota Simple).
• Receipt for Town Hall charges & rubbish collection (IBI) & copy of Catastral.
• Electricity Receipt
• Water receipt where applicable.

When a client has found the property of their choice, a deposit of 10% or similar normally will be required. Having collated and authenticated the legal status of the above documents, our conveyance department, or your representative is then in a position to prepare for you the purchaser, a private contract of sale. On payment of the deposit to secure the property the contract of sale should always include: Details of Buyer and Seller, Registration details and Description of the property, Sale price, Completion date, and clauses to protect both buyer and seller in the event that either back out of the deal or if you are unable to complete due to problems with the legal status of the property. Be sure to have a translation of the private contract into your own language.

Now is the time for you the buyer to consider whether you need a mortgage or not. If you do, contact a bank or a professional mortgage broker and start the process immediately. To do that you will require a copy of your new contract, and your personal income details. The bank may ask for other information depending on which bank you are dealing with. We offer a mortgage service which can offer you up to 60% of the valuation price over 10 – 30 years at good interest rates. Ask us for details.

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