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Purchase Process

Purchase Process

Purchase Process

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Find a property

With our help, we will find you the perfect property to match all of your requirements.

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Make an Offer

We will then put forward an offer and negotiate on your behalf.

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Agree Offer

Once we are happy we will agree a price.

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Reservation Deposit

In order to secure the property, we will need to put down a reservation deposit. This deposit is non-refundable if you were to change your mind, but is refundable subject to all legal searches. For instance, if the property does not have the correct licenses then your deposit will be refunded if this cannot be solved. The size of the deposit varies depending on the price of the property starting from €6.000.

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Sign Reservation Contract

At the same time as making the reservation deposit, we will sign the reservation document. This is a legally binding document that ties you and the vendor into the purchase/sale of the property. This enforces a level of commitment on both sides of the purchase to stop anyone pulling out of the sale without a serious reason. Once the document is signed by yourself, the buyer and us as an agency then the property is officially taken off the market. This then stops any third party coming forward in being able to purchase the property.

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Instruct a Lawyer

The next step if you haven't already done so is to instruct a lawyer. We can recommend and put forward a panel of independent lawyers for you to choose from.

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Due diligence & Legal Searches

The lawyer will communicate with the vendors lawyer in order to check all the paperwork and legal documents for the property. This process normally takes around 2 weeks.

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Set up Bank Account & NIE

It is necessary to have a Spanish bank account and NIE (fiscal number) in order to purchase any property in Spain. We can help you set up both of these alongside your lawyer.

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Private Purchase Contract (PPC)

Once all the legal searches have been carried out, your lawyer will send you a full report with their findings. If everything is ok then you will then sign the private purchase contract. This is a more in-depth version of the Reservation Contract. Upon signing the PPC you will then put down 10% of the sales price agreed.

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Completion

2-4 weeks later you will sign the title deeds upon completion at the notary office. It is possible to arrange a quicker or longer completion if necessary. You will get the keys to the property upon signing the title deeds.

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