How to buy
There are a lot of houses, but only one is your real home
Propertissimo represent private vendors and acquirers, national and international developers and investors as well as banks on the Costa del Sol.
We always recommend that you carefully consider how you intend to finance your purchase in Spain before you actively start looking for a property. This will enable you to act quickly when the right property turns up. There are possibilities to apply for a mortgage with a Spanish bank where you can finance up to 70% of the market value of the property.
Together with you, we select the best properties according to your criteria, we provide our knowledge and advice to guide you to the right house. A schedule is then compiled that works for you during your stay here. In Spain we usually show several homes on the same day as well as spend time showing you the surroundings, all to ensure that you get the best possible feeling for both your future home and area. We can of course show you properties all over the coast as our different offices work together for you.
We recommend buyers and sellers take legal advice, we can help with contacts for a solicitor who provide multilanguage speaking staff to guide you through the whole process of buying or selling. Your solicitor will make sure that everything is correct in the property register and that there are no outstanding debts, taxes or other expenses relating to the property which you could inherit. The solicitor will also help you to apply for an NIE number (a Spanish national ID number) and a Spanish bank account. This is obligatory when you buy a property in Spain. In most cases, a power of attorney is issued for the purchase of the property, which means that you don’t need to be present in Spain to sign documents.
Once the buyer and seller have reached agreement, the property will be reserved through a reservation contract. In conjunction with this, the buyer will normally deposit 6,000 euro in the solicitor’s or Propertissimo’s client account. The contract will specify fittings and fixtures, the last possible completion date and any other required details. Once the contract has been signed by both parties, the property will be taken off the market and your solicitor will begin thorough searches concerning the property and draw up the final purchase agreement.
This agreement sets out all the applicable terms and conditions. Some are obligatory by law, while others may be conditions which have been agreed between the buyer and the seller. In conjunction with this, you must also pay 10% of the purchase price.
In Spain, the last step in a property purchase is with a notary. It is a formal action with both buyers and sellers, either together or through their lawyers meeting at the notary to sign the title deed. In connection with this, the buyer pays the outstanding amount of the purchase price to the seller and the seller hands over the keys to the buyer. From that moment the buyer is the rightful owner of the home. The legal title should be written below with the three parties: the seller, the buyer and the notary.