A GUIDE TO BUYING PROPERTY IN SPAIN
Buying a property in Spain is relatively straightforward and will pose no problem as long as the correct steps are followed. Llidomar Properties offers a extensive portfolio of proprties in Javea area, and we will happily guide you through the purchase process.
FIND THE RIGHT PROPERTY FOR YOU. Once you identify a property that you want to buy things get serious. No matter how well you understand the process there is no substitute for seeking help from qualified professionals, as much of the work can only be done successfully by a qualified Spanish lawyer. We will talk about the conveyancing process in Spain a bit further down.
MAKING AN OFFER. You make an offer and then we will negotiate with the vendor until you reach an agreement which both buyer and seller are happy with.
RESERVATION. Signing a reservation is a quick step to secure your property and reserve it for a short period of time, usually two weeks to a month, whilst property checks are made and the final detail can be drawn up for the private purchase contract. The reservation can vary depedning on the price of the property, but it is usually between 3,000 and 6,000 Euros, and counts towards the final price of the property.
PRIVATE PURCHASE CONTRACTS. The private purchase contract is a binding contract which is just as legally binding as the public deeds. The difference is that the private contract can’t be inscribed in the property register because it hasn’t been authorised by a Notary. The contract should provide unambiguous detail on the buyer, the vendor, the property, the price agreed, the deadline for signing the deeds, vacant possession, debt-free title, how the transaction costs will be paid, clauses that allocate responsibilities, conditional clauses that need to be met for the contract to be valid, and how disputes will be resolved. If you are buying any furniture or other items from the vendor these should be included in an inventory attached to the contract.
THE PUBLIC DEEDS OF SALE. Signing the public deeds of sale before a Spanish Notary is the moment when you buy the property outright. The private contract you have signed will state the date by which the public deeds must be signed. To sign the deeds before Notary you must either be present in person or arrange a power of attorney for someone else – usually your lawyer – to sign on your behalf. If you are buying the property jointly with other people you must all be present or sign separate powers of attorney. Once this is done the property is yours and you can have your title inscribed in the land register – the most secure form of ownership. Once your title is inscribed in the land register no one can challenge your claim to the property.
We are happy to advise any owner choosing to buy a property with us. If you would like to speak Angela or Ana about listing your property, or have any questions that are not covered here, do not hesitate to contact us.