Buying a property in Spain

Thanks to Spain’s popularity, buying property there is now reasonably easy. Using our close links with Spanish developers and lawyers, we will make your purchase as straightforward as practically possible. The process varies slightly from property to property, but the outline below is a good general guide.
	First, inspect as many properties as possible.
	This isn’t as complicated as it sounds. Petermans plan personalised itineraries to fit clients’ needs, and will even arrange flights and accommodation. Once there, you’ll be shown local amenities like beaches and golf courses, view homes and receive a detailed explanation of what particular developments can offer.
	Take your time to decide.
	Few developers in Spain expect spot decisions during a first visit! Feel free to talk to us about any practical and legal matters on your return.
	Consider the costs.
	Remember that the following charges apply to all property bought in Spain:
	Spanish VAT is due on all purchases.
	Notary costs, indirect taxes and registration fees are also payable: we can calculate these as soon as you decide on a property.
	Water and electricity contracts are payable annually.
	Community costs must be paid to the local authority every month.
	In addition, an urban contribution tax is charged to maintain local services.
	Follow the legal process.
	Here’s a brief explanation of the buying process itself:
	Once you decide, a reservation is made and a small deposit paid to the agent. From this moment the property is off the market and its price is fixed.
	Soon afterwards, the agent prepares a contract of sale detailing payment methods, the people involved and the completion date. And at the same time, the first down-payment is made: usually between 25% and 50% of the purchase price.
	Between then and completion, your agent will keep you abreast of building developments and any other work going on in your absence.
	The completion and final payment (and the handing over of keys!) are made in the presence of yourself, the agent and a Spanish notary, who also signs the property’s title deeds.
	Further information
	Please do not hesitate to call us for more advice.