Procedures for the Purchase of a Property in Spain
Property purchase procedures are often stressful for the parties involved in a real estate transaction in Spain, especially for buyers who are the most exposed and already feel that the investment they will have to make may be one of the most important in their lives.
If we add to the latter the condition of foreign buyer, the lack of knowledge of current laws and of the required requirements, surely the level of concern will be increased if you do not receive the appropriate information and advice to direct your actions in the right direction.
Some of the main steps to follow for the acquisition of a property in Spain:
1) Obtaining the NIE or CIF.
2) Contact a trusted real estate agency.
3) “Due diligence” or analysis of the property. Legal and architectural too.
4) Signing the Deposit Contract.
5) Accreditation of the origin of the funds.
6) Preparing and analysing the notarial documentation related to the purchase-sale.
7) Tax and other payments.
8) Registration of the new ownership at the corresponding Registry.