Pre-purchase
In order to make sure the purchase can go ahead as smoothly as possible, we recommend you have your finance plans in place as early as possible. This will help to avoid any disappointment when you find that wonderful townhouse being sold at an amazing price!
You ́ll also want to think about currency exchange – how many euros wil your pounds get? You can get a quote from a currency exchange specialist so you are up to date with what your budget really is.

Making an Offer
You can be assured that all the necessary legal documentation for the property will be checked by us as all our mandated properties have to comply with current Spanish law. We will then discuss with the vendor your offer for the property and discuss any special requirements which you may have – timescales for completing or including some pieces of furniture. It is always our aim to make sure an equitable agreement is arrived at.
To make sure your offer is accepted, your lawyer (we can advise on local experts if you don ́t have one) will meet you to discuss how to handle all the legal aspects of the purchase. He or she will ask you to pay a Reservation Deposit (typically 6,000€) into their escrow/client account and this will ensure that your property is taken off market straight away.

You will also supply your personal details and a copy of your passport.
Your lawyer will recommend that you sign a Power of Attorney (which will need to be counter¬signed by a local notary) so that he or she could then sign any documentation on your behalf. This is especially important if you are not going to be present for contract signings. Typically a lawyer will need to contact several Government authorities on your behalf to ensure that all the correct paperwork is completed.
All purchasers of Spanish property need to have a national identity number and for non-¬Spaniards, this is called an NIE number. Your lawyer can obtain this on your behalf.

Private Purchase Agreement
Usually within 2 weeks, an initial contract called the Private Purchase Agreement is drawn up and signed by both parties. The lawyers will now ensure that they have all of the relevant documentation to ensure the proper legal ownership of the property: copies of deeds, occupancy licence (where appropriate), planning permits, land registry documentation etc. Typically at this point, an amount is transferred to the lawyer to make the total amount paid equal to 10% of the purchase price.
After this point, if the vendor decides for whatever reason not to proceed with the sale, you are entitled to receive 20% of the purchase price in compensation.

Completion
This date is agreed with all parties and is the point where the remainder of the purchase price must be transferred. The completion meeting takes place with the notary public who acts as a qualified witness to the transaction.
Legal Fees for Purchase
On purchases of property which have previously been occupied, fees are around 10% (on purchase of 150,000€) at time of writing. Fees on new-build properties are higher as value added tax has to be paid, typically 13% at time of writing. Additional costs are incurred if a mortgage is required but your lawyer can advise on this.

Our Offer: if you're ready to buy, contact us about our 200€ voucher offer to help you with your viewing trip to the Costa del sol!

Congratulations!
Finally you open a bottle of delicious Cava and enjoy your new life on the sunny Costa del Sol!

Useful links:
• Check out the UK Government site for buying property in Spain
• Definition of the difference between a lawyer and notary public
• Get the most from your money - ask for a foreign exchange quote
• What is a power of attorney?