TO BUY
A possible agreement between buyer and seller is usually reached after a viewing has taken place. Viewings are planned by me in consultation with the potential buyer after a detailed selection of houses that meet the personal requirements. Every house or apartment has specific characteristics but I would like to outline the purchase process globally:
- first orientation
- selection of houses that meet the wishes
- organizing viewings
- if agreement between buyer and seller:
- seller submits documents that apply to the house
- buyer chooses a lawyer (I can advise you)
- buyer and seller sign a reservation document
- the buyer pays (often to the lawyer) a reservation amount of 6,000 euros and thus the house is reserved and no longer available on the market
- the lawyer checks all documents and the legal status of the house
- buyer and seller sign a provisional purchase contract
- the buyer pays 10% of the purchase price minus the already paid reservation amount
- lawyers of the buyer and seller submit the date for the transfer and the notarial settlement
- at the notary the purchase agreement is signed by the parties and the buyer pays the remaining amount
- buyer receives the keys
- lawyer ensures that water, electricity and community are put in the name of the new owner
- lawyer transfers the transfer tax on behalf of the buyer.
During this process I will go with you to a bank of your choice to open a bank account and I will take care of the application of a NIE number, an identification number for foreigners. Both a Spanish bank and a NIE number are necessary before buying a house.
Global ‘buyers costs’ amount to 11 to 12% (transfer tax, lawyer and notary) for existing buildings. For new developments this is about 13 to 14% (VAT, stamp duty, lawyer and notary)