Before buying you should consider what you are looking for in your new home in Spain – situation, size, number of bedrooms, whether you’d like a new development or a pre-owned place and perhaps most importantly what you would be willing to pay for a home in Spain.
Once you’ve made yourself a clear picture you can together with our local estate agent go through the pre-owned properties as well as the new production, which we can offer through our cooperation with the construction companies, that we currently have for sale.
Showing and financing
When you have seen a few properties matching your wishes we can offer you more detailed information on these properties. Should you then want to go see the properties for yourself we will arrange a meeting with one of our brokers in the area.
In the next few upcoming days we will show you the property you’re interested in. When you together with us have decided on and inspected a property you like you pay a reservation fee of 3 000 (6 000 in case of new production) Euros (the reservation fee will be deducted from the price of the property). The reservation fee should be paid out to the broker’s trustee account or to the local law firm responsible for establishing the contract of sale. The law firm will simultaneously verify that the seller is the right owner of the property and is debtless etc.
If you make a loan from a Spanish bank to finance your purchase, the bank will make an corresponding verification. We can help you get an advance ruling from a Spanish bank. We will then need your three most recent paychecks, your most recent income-tax-return and a bank statement. When the reservation fee has been paid the law firm will prepare a contract of sale which is normally signed by the buyer and seller within a few weeks. In conjunction with this a deposit of~10% of the purchase price should be paid.
The remainder of the purchase price should be paid in cash on the admission day and may then consist partly of a personal down payment and part bank loan. You will be granted a loan of maximum 70% of the purchase price. After this, one or several part payments are made in pace with the construction of your property (in case you’ve bought a property yet to be completed). Normally you pay a down payment of ~30% of the new production’s price and the remainder by personal means or a bank loan with ~25 year’s installment.
The signing of the contract
When you sign a contract of sale you should have one copy in Spanish as well as one in English. We highly recommend hiring a local law firm to help you supervise that everything is done correctly. Our partners in Costa Blanca cooperate with several law firms. Should you want to contact a law firm speaking your language we are happy to help.
When the final payment is to be made, the credit documents should be signed by the buyers and sellers under supervision of a notary.
In conjunction with this, you will receive the keys to the property after which the notary will register you as the new owner.