The Spanish buying process (from reservation through the real estate agent to the Title Deeds at the notary) can vary from 2 weeks until more than a year, depending on the documentation, circumstances and wishes of buyer & seller. The average, however, lies between 2 and 4 months. Purchases of ´Urbano´ properties in the towns usually go a bit quicker than ´rustic / rural´ houses in the countryside. In general the buying process of a house in Andalusia looks like this.
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Spanish buying process
- The preparations: setting budget (including purchase costs), area orientation, selection real estate agent and lawyer
- Viewings with the real estate agent (or Promoter in case of New Build)
- Verbal price agreement (in country side including DAFO costs) & signing Power of Attorney with lawyer
- Signing reservation contract of the estate agent – with payment reservation fee
- Part 1 legal investigation of the lawyer, incl. possible measurements or structural surveys by the architect
- Signing private purchase contract of the lawyer – with 10% down payment
- Part 2 legal investigation of the lawyer
- Signing Title Deeds (Purchase Deeds) at the notary – with final payment
- After-sales by the lawyer: registration in Land Registry & Cadastre, tax payments house and possible furniture and transferring service contracts (electricity, water, IBI, basura, comunidad)
- Final balance meeting lawyer & signing Spanish wills (with fiscal advice inheritance tax), possible application rental license
Quick completion or delayed purchase
Of course if both parties agree, it´s always possible to skip certain steps in the Spanish buying process. This for having a ´quick completion´. On the other hand it´s also an option to plan the signing of the Title Deeds later than normal. Reason for this can be the legal situation of the property, financial requirements (like Spanish mortgages or the sale of another property) or if the vendor currently still has renters in the property.
Junta de Andalucia
This website focuses on Andalusia, as the purchase goes by the laws of the autonomic state of the Junta de Andalusia. Within Andalusia the Malaga province is most popular for buying a property. This because of the good weather in winter, good facilities and the lucrative rental options for tourists. The coast of the Malaga province in the Costa del Sol. This runs from Estepona in the South-West until Nerja in the East. The West coast between Estepona / Marbella and Malaga city is most touristic.
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©2019, Ariane van Wijk