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)