you will find it very hard to choose which area of sunny Spain to settle down in as every region is so beautiful and unique! A vast amount of properties are available to potential buyers in anywhere from bustling coastal towns to quiet, picturesque white villages in the mountains.
It is easy for foreigners to search for and buy a property in Spain , as
estate agents have websites that cater for almost every nationality and language. Even though you don’t need to be a resident living in Spain to purchase a home here, we strongly recommend that you don’t cut corners and arrange to see a potential home in person before making an offer.
Estate agent fees are typically paid for by the seller in Spain, making it advantageous for buyers to use them as intermediaries when searching for a property. Most people also prefer to hire a lawyer to assist them throughout the buying process, especially if there is a language barrier involved.
The sale and purchase process for a holiday home for sale in Spain will usually start with the buyer making an offer on the home through the seller’s estate agent.
and the buyer will putdown an amount typically equal to 10% of the sale price as a deposit. The seller by accepting this agrees to take the property off the market, therefore reserving it for the potential buyer.
This is the time to do any surveys or tests on the property, especially if you are considering buying a rural home or one that is in ruins. We also recommend you have a lawyer carry out a series of “due diligence” steps on your future home, such as making sure all paperwork is in order at the Town Hall and Land Registry (read: that the property and its ownership is legal) and that there are no outstanding debts owed by the seller that will be transferred to the buyer once the sale is completed.
After this the buyer (or their lawyer) will then arrange any paperwork necessary related to a mortgage if they require one, and the “ deed of sale ” or contract of sale will be signed by both the buyer and the seller before a notary.
At this point the rest of the money including the full sale price and taxes must be paid, and the keys are handed over to the new owner. This is when according to Spanish law, the new owner takes possession and the ownership is offically transferred.
In order to ensure this process runs as smoothly and hassle free as possible most people will hire a lawyer to guide them and solve any issues or obstacles that may arise.
Having a lawyer will guarantee that you are compliant with Spanish real estate and tax laws at all times and can also help with a possible language barrier and any confusion as to what you are agreeing to throughout the purchase.
Costs associated with the property purchase are usually paid for by the buyer, and will include:
