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Discover distressed properties

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New developments in Spain

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Buying process in Spain

Buy property in Spain

The contract

If you buy property in Spain you will have to abide by Spanish rules and regulations. First find out who the owner is of the plot. This is very important because according to Spanish law the person who owns the plot also owns any buildings on it or buildings that will be built on it. Also check if there are any debts secured against the plot. If the title is transferred to your name, you will automatically take over any debts.


Escritura
It is best to ask the vendor for a copy of his deed of ownership (escritura). You can check the details with this document at the Land Registry office, or you can have a legal advisor, like a solicitor or gestor, check the details at the Land Registry office. It is often possible to make a reservation for a short period of time on the house. During that time you will have the chance to find things out without running the risk that the house will be sold to another party.

When you decide to buy your property in Spain you can immediately sign the deed of ownership in presence of the notary public. But it is more customary to first sign a contrato privado with the vendor. You will pay a deposit of 10% of the purchase price of the property in Spain minus the amount you paid for the reservation to confirm the sale. The definite date of conveyance will be stated in the contrato provado. This is usually two or three months after the signing of the preliminary buyers contract.

The conveyance

The actual title transfer will take place at the office of the notary public. A few days prior to this meeting you will receive a draft buyers contract. This enables you to have it checked by your solicitor or legal advisor. If you do not speak the language there will have to be an interpreter present on the day of the title transfer. After you have signed the escrituro the notary public will file it and you will receive a copy. The sale will not be definite until you have registered your property with the Property and Land Registry. After that you are the owner of the property in Spain.

More information about buying a second home in other countries

Buying process in Bulgaria
Buying process in France
Buying process in Hungary
Buying process in Portugal
Buying process in Turkey