Contract & Complete

After the initial securing deposit has been made further payments will be required in the process and a contract must be signed.

These payments are normally 25% of the property purchase price with a final payment required on completion.

The timings and percentages can vary but these will be made clear to you before paying your initial deposit.

Legal Assistance

Our Spanish legal team will engage Spanish Lawyers on your behalf to assist you with the legal process. Their services include:

• A full check on the property to ensure it is legally built
• Acquisition of NIE numbers (similar to National Insurance numbers in the UK) these are needed before you can purchase a property in Spain
• Setting up your Spanish bank account, for utility bill payment
• Advise on UK foreign currency or Spanish mortgages if required
• Advise on any Spanish inheritance tax and tax law
• Power of attorney (if applicable)
• Wills
• Translation services
• You should allow approximately 10% of the purchase price for legal charges and taxes paid in Spain.

Example - If your property purchase price is €115,000, then the legal and taxes are likely to be €11,500 making the total purchase cost €126,500. There are more places to register for Spanish NIE numbers in Spain than in England, hence it is easier to do this in Spain.

Completion

On the day of completion all monies need to be exchanged and the local Notary (In English terms a legal office, less important than a judge, but more important than a lawyer) needs to authorise the transaction. If you have not arranged power of attorney then you will need to be in attendance with your lawyer. This is when your property dream becomes a reality!

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