ALACANT ESTATES - Properties in Costa Blanca

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Buying a property in Spain

When you have found the property you want to purchase and you have agreed on the price you sign a pre-agreement or a reservation contract. A reservation sum of Euro 5.000 - 30.000 or up to 10% of the purchase price is normal and serves for reserving the property for typically 30 - 60 days after this you proceed to the actual purchase.

Before signing the reservation contract your lawyer must check that there is no debt in the property, that all bills have been paid and that the seller is the righteous owner of the property and not at least that the title deed match with the property that you have agreed to purchase.

In the sales contract you agree on the date of the actual purchase and the payment terms. If you have not already applied for a NIE and opened a bank account you will need to do so before the actual purchase can be carried out.

The actual purchase takes place in the Notary´s office where either yourself or the person with the power of attorney and the seller or someone appointed by the seller are present with the Notary. Having signed the documents and verified that payments have been made you will then get the keys to your property.

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