The process of buying a property in Spain usually runs as follows.
Take your time and select the location that is perfect for you.
Set your budget and start looking for the property that you have always dreamed of and don’t forget to add in 10%-12% for taxes and fees on a resale property.
Once you have located your dream Spanish property, view it as many times as you like to make sure it is just perfect for you.
Make an offer that you feel is fair for the property.
When a purchase price is agreed, now its time to show your commitment to that property and put down a Reservation deposit (normally non refundable) and sign the reservation contract with the Selling agent. Once this is done, the property is reserved for you.
You now need to select a Lawyer/Solicitor to act on your behalf and allow your property agent to connect your solicitor to the sellers Lawyer/Solicitor then allow them to work their magic.
You should make sure that your funds are in the correct currency and ready to transfer to your Lawyer/Solicitor when requested. Ask us for more information on exchanging currencies to Euro to ensure you get the most from your money with our Corporate exchange rates.
Depending on your situation, you might want to appoint POA (power of attorney) to your solicitor which allows them to act on your behalf throughout the buying process saving you multiple trips to Spain to sign documents.
Your Lawyer/Solicitor will arrange your NIE, Notary appointments, open a Spanish Bank account, Complete utility contracts on your behalf and so on.
On completion you will receive your deeds and keys via the notary and then you can begin enjoying your new Spanish property.