To ensure a risk-free transaction and avoid unpleasant surprises, hire a lawyer. We would recommend a bilingual Spanish lawyer conversant with local, regional and national laws and regulations. The lawyer will handle the conveyancing (legal and administrative paperwork) from start to finish. Legal fees are around 1% of the purchase price.
We highly recommend a technical building inspection prior to signing any contract. We can put you in touch with a certified Spanish technical architect.
The buyer, upon making an offer, normally pays a 10% non-refundable deposit directly to the seller or legal representative. A preliminary contract is drawn up specifying the date of completion before the notary. At the notary signing, the balance is paid and the buyer receives a copy of the title deed and gets possession of the property. The signing at the notary can be done by a legal representative with Power of Attorney.
TAXES AND PURCHASING COSTS
Estimated at 10-11% of purchase price: transfer tax (8-9%), notary, property registry and legal fees.
Make sure to arrange financing well in advance before signing any purchase document. As a client of Mäklarhuset you can take advantage of competitive mortgage rates and terms with leading banks.
Av. Marqués del Duero 15 296 70 San Pedro Alcántara