Rural Spain Properties

BUYING PROCESS

photoThis is often the part that scares non-Spanish buyers. The process is actually quite simple when a property’s title deeds are correct and don’t show any third party claims or debts.

Once you have found what you are looking for, your property will be secured once you have signed a pre-sales agreement and paid the corresponding down payment (normally 10% of the value of the sales price of your chosen property). This document will set out the terms of the sale and the date by which your purchase will be formalised.

Prior to signing a pre-sales agreement it is possible to reserve a property with a small deposit. This will be sufficient to keep an owner happy until the pre-sales agreement can be drawn-up and signed.

Should the seller pull out of the deal after signing the pre-sales agreement, they will liable to pay you the double of your down payment. Should you decide to pull out, you will lose your down payment.

Before reaching this stage it is critical to have a lawyer confirm that there are no ownership problems, debts or third party claims on the property.

We work with a Madrid based first class bilingual lawyer who can provide you with all the advise and services that you will need to complete your purchase.