The Buying Process

What’s the buying process like?

Step 1: Seal the Deal!

Once you find a property you like:

• We’ll prepare a document to present your offer to the seller. An offer deposit of 1000€ to the agency is needed in order to this. The aim of this is to show the owner you are truly interested and serious about your offer. If the seller doesn’t accept your offer or an agreement isn’t reached, you’ll get the deposit back!
• Once an agreement is reached or once the seller accepts your offer, we’ll prepare a Deposit/Reservation Contract for you where the terms and conditions of the sale will be reflected. In Spain this is used to reserve the property for a specified amount of time, until we’ve sorted out all the paperwork or anything you or the seller need doing before going to the notary to sign the property over in your name. The deposit contract must be signed by both parties, then, you must transfer the deposit to the owner, which is 10% of the value of the property, minus the 1000€ offer deposit. For example, if a property costs 100.000€, the deposit would be 9.000€ (10% minus 1000€). Congratulations, after making the deposit and having the contract signed your property is now reserved!
• Now, if you need a mortgage, we can start helping you arrange it.

Step 2: Open a Bank Account

To be able to buy a property in Spain,you need to open a Spanish bank account. This will be used to pay several bills in the future such as: Property tax (SUMA), electricity & water bills, community fees (if it applies to you), etc.

Step 3: Get an NIE Identification Number

You need an NIE number aswell in order to be able to buy a property, car, put the bills in your name, etc. It’s an identification number and tax number in Spain for you.

We can can arrange this for you as an extra-service. If you’re not in the country we can help you arrange a Power of Attorney (POA) so that we can acquire it on your behalf.

Final Step: Notary signing – Time to officially become a new owner!

 We’ll have arranged an appointment at a local Notary. This is where the money, cheques and keys are handed over and the new deed is signed.

• The Notary is required by Spanish law to witness the payment of agreed money and signing of all relevant documents. You will receive a “copia simple” of the deed from the Notary.
• If you are abroad and aren’t able to get to Spain for the completion of the property, we can arrange a Power of Attornery (POA) to sign over the property in your name on your behalf.