Clients approach us every day asking for help in finding the right property for them. But what is the process for buying a property here in Spain?
Did you know that it is very different to house hunting in other countries. We have access to every single property available for sale on the coast, so you don’t have the hassle of hopping from agency to agency to find the right property. All agents collaborate with each other.
You give us your criteria and then we will use two different portals to search out the properties that fit your requirements. Once you have selected the ones you like, we can set up the viewings. Can you imagine wanting to see 10 different properties in different areas up and down the coast, and all with different agencies? It is a logistical nightmare and it would certainly take the shine of your Spanish house hunting break. Once you have done the fun part and selected the properties you want to see, we will sort out of the logistics.
When you find the right property for you, the five key steps are…
- We will draw up a reservation contract which formalizes your serious intent of purchase.
- You will pay a reservation deposit. Proof of the transfer of this deposit will take the property off the market.
- Your lawyer will carry out due diligence on the property. This is to ensure the purchaser that the property is in correct legal order. We usually allow two to three weeks for this.
- Next is the private contract. (Sale and Purchase Agreement) at this point 10 to 20% of the purchase price is paid to the vendor. The private contract will contain all the terms and conditions of sale, including any special clauses or inventory.
- Completion and hand over of keys at the Public Notary with your choice of lawyer.
It is worth considering setting up a Power of Attorney (POA).
With your POA your lawyer will be able to take care of transferring utilities, and community payments and all related property matters for your home in Spain. Including signing at the Public Notary on completion day if you are unable to get to Spain.
There you have it. It always helps to understand the process as you embark on your house hunting journey in a new country.
Do you need help?
About Us
IPP Spain is a family run real estate agency which has been working on the Costa del Sol for 20 years. We look after clients wanting to buy property from Malaga all the way to Estepona - from studios and apartments to multi-million euro villas. Some people are looking for their dream second home, others want a lucrative holiday rental property and many are now relocating to Spain for a change in lifestyle.
We are a mix of Spanish and English speakers and our aim is to make the property buying experience in Spain a pleasure for our clients.
We help them every step of the buying process, including support finding Spanish mortgages and connecting them with our own lawyers who offer a special discount for our clients.
We also offer a property management service for those clients who wish to rent out their properties for winter or long-term rentals.
We have access to all the new build projects, saving you a lot of time and being able to guide you with our market knowledge. Buying directly from the developer will not save you any money.
