3 Important Steps When Purchasing Property in Spain
Step 1: Pre-purchase
An essential aspect is that you make sure your property is not in the middle of nowhere.
Ask yourself questions like:
• Is there a hospital or health centre near?
• How far will I need to drive to get to the supermarket?
• Is my property located in a safe area?
• Are there any leisure facilities around?
Whether you would like to buy off-plan, new build, or resale, it is very important that you take into consideration the previous points.
Find a reputable Estate Agent
You should look for a reputable estate agent to clarify the previous questions. A worthy agent will show you properties in areas that will best suit your requirements, in a desired location.
Contract a registered lawyer
The most important step, no doubt.
First, you will need to contract a lawyer.
Second, your lawyer will ask you to give them power of attorney in order to act on your behalf for the following actions:
• Apply for an NIE number (in case you haven’t got one yet)
• Open a Spanish bank account in order to arrange payments
• Make general legal searches to ensure the property is legal and without debt
• Help you in arranging a mortgage (if necessary)
• Assist you with life/home insurance
For off-plan property’s there are other actions your lawyers will be able to carry out:-
• a background check of the developer or promoter
• Ensure that the project is properly registered with the town hall
• Confirm there is an up-to-date building licence
• Review all the contracts to confirm everything is in order, including the bank guarantee
We’ll be back soon with Step 2: on the day of the signing.
In the meantime, if you’ve got any questions, please scroll down and send us an email, we’ll be happy to clarify any questions that you may have.