buy property in spain - spanish property for sale

Consult the Property Registry to check that the seller owns the property free of liens and encumbrances by asking for a search (nota simple).

Unless the full purchase price is paid immediately a private contract of purchase will be drawn up, which should include the following at least;

• legal description of the property
• purchase price
• form of payment
• date of completion
• date of possession

Usually a deposit is expected upon signing the private contract, a normal figure would be 10% of the agreed purchase price within a time period agreed between the two parties.

Closing the deal

Once the entire purchase price has been paid the title deeds will be issued by the notary who will certify the sellers right to sell and the buyers right to buy as defined in the contract of purchase.
The title deeds must then be presented to a property registry for inscription and paymet of taxes.