We understand that buying a property in Spain could be a bit daunting, especially for expats who do not speak the language or are not familiar with the process. That is why enlisting the help of a professional such as ourselves can really take the weight off of the entire procedure, giving you, the buyer, less stress and uncertainty as you prepare to go property hunting. To help you get started, we have underlined the typical process of purchasing a property here in Spain through Casaconnections, from placing the deposit, to securing the paperwork. If you have more questions or would like to know more about the information provided, just drop us an email at sales@casaconnections.com.
Once you have found the property you wish to purchase, Casaconnections will negotiate the price on
your behalf. We negotiate hard to get our clients the best price possible, and in some cases, can act on behalf of the buyer if the buyer is not able to come to Spain themselves. This situation has been more common throughout the pandemic, as buyers were looking to purchase property in Spain but were unable to travel here due to local restrictions. During this time, we have even conducted virtual viewings via Videocall, providing our clients with honest feedback about the property, comparing what the buyer is looking for to what the property can actually offer them. That is why we pride ourselves on being able to identify exactly what our clients are searching for, based on them as individuals.
Once you have found your ideal property and a price has been negotiated and agreed, the next step is to sign a reservation contract depositing 5,000 Euros which will take the property off the market so
nobody else can view. This is basically you, as the buyer, reserving the property pending the next steps. You would then instruct your lawyer, and all documentation for the property will be sent to them in order for the primary searches to be carried out. If there is a legal reason that your lawyer advises you should not proceed with the purchase, your deposit will be repaid in full.
Please note that you will need to have an NIE number so if you do not currently have this, this will have to be applied for.
Once the reservation contract is signed and your lawyer has carried out all necessary legal checks,
you would enter into a purchase contract which will be drafted by your lawyer. You would then
deposit 10% of the total purchase price less the 5,000 Euros you have already paid, of which the balance
would then be paid on completion at the Notary. The completion date is then agreed between you and
the seller and will be entered into this contract.
We advise clients to allow an additional 12% on top of the purchase price of the property for
property tax at the current rate of 10%. The other costs would be for the notary, registry and your
legal fees.
