index

1. What is the Escritura?
   
   
2. Who is the Notary?
   
   
3. Do I have to be in Spain to complete the transaction?
   
   
4. What about paying the taxes due?
   
   
5. Is there a land registry system in Spain?
   
   
6. In whose name should you purchase the property?
   
   
7. Are there any other things I should do at the same time as I buy a property?
   
   
8. What happens if I decide to live and / or work in Spain?
   
   
9. What does all this cost?
   
   
10. Initial steps to purchase
    
    
11. Spanish Mortgage Information

When you have found the property you wish to purchase, it will be necessary to make a deposit with the developer (new builds) or your lawyer (resale) to hold the property. You have heard this amounts to 10 % of the purchase price. However, a deposit of £2,000 or 3,000 Euros will normally suffice at this time. Deposits can vary according to conditions of the contract. If you carry a sterling chequebook a cheque can easily be signed over to the lawyer / developer at this time. You will also be signing an initial contract showing receipt of the deposit, the details of the property you are buying, payment schedule and the anticipated completion date.

Since further transactions will be necessary a Power of Attorney may be granted to your attorney so these transactions can be completed in your absence. There is no “gazumping” in Spain, the deposit and the initial contract creates a binding agreement between buyer and seller.