After the viewing, the buyer and seller agree on a price for the home.

The reservation contract (Contrato de Reserva) is a document that establishes the price and terms of payment. 6,000 Euros is paid as a deposit and the seller removes the property from the market during a reservation period of (approx. 8-14 days). Documentation is obtained from the land registry to ensure that all information about the home is correct.

Your lawyer checks that all the facts, permits and licenses surrounding the home are correct and that there are no debts, tenants or other encumbrances registered on the home.

The purchase contract (Contrato de Compraventa) is written between buyer and seller. In connection with the writing of the contract, the buyer usually pays 10% of the home’s price.

The last step in a property purchase in Spain is done at a notary. Both buyers and sellers, either together with their lawyers or only the attorneys with power of attorney, meet with a notary to sign the title deed (Escritura de Compraventa). In connection with this, the buyer pays the remaining amount of the home’s price to the seller and the seller hands over the keys to the home. A few days after the deed is signed, it can be collected from the notary, after which it is passed on to the land registry, which ensures that the home is officially registered in the name of the new owner. Now all overheads, fees, transfer tax and other legal costs are paid. With the help of your lawyer, all contracts such as water, electricity, etc. are transferred. as well as various taxes relating to the home in the name of the new owner.