Process of buying a property in Spain

From the moment Poland joined the European Union, citizens of our country are treated on an equal footing with EU citizens and without additional formalities, they can purchase real estate in Spain.

Buying a property in Spain does not differ much from Polish procedures, but in some cases, local regulations and the specificity of the market must be taken into account.

Documents needed to buy a property in Spain:

  • Passport or ID card
  • Spanish tax identification number N.I.E. (número de identificación de extranjero)
  • Confirmation of opening an account with a Spanish bank

Purchase of a property on the secondary market

  1. After selecting the property, you sign a preliminary contract (sale and purchase contract in Spanish). This agreement guarantees the reservation of the object and the removal of the offer from the market. You also receive from us the Polish version of this contract.
  2. The down payment when signing the preliminary contract is usually between 3,000 and 6,000 euros (depending on the value of the property).
  3. The preliminary agreement also specifies the date of the notarial deed and the account to which you will pay the deposit – 10% of the property value. The payment of the deposit is required when the date of the notarial deed is longer than one month from the date of booking.
  4. Then, the action is to sign the notarial deed. Then you must pay the remainder of the sale value. The notarial deed is signed in Spanish. We ensure the presence of a person translating the file into Polish.

Purchase of a property from a developer on the primary market

  1. At the beginning, you sign a preliminary contract (purchase and sale) between the client and the development company.
  2. When signing the contract, you pay a deposit of 3000 to 6000 euros. It guarantees the reservation of the object.
  3. The preliminary agreement specifies the schedule of payments to the development company’s account.
  4. An initial payment of 30% of the property value is required. You pay the remaining amount on the date of signing the notarial deed, be it in the form of a loan or cash.
  5. The date of signing the notarial deed depends on the date of the given investment and the receipt of the keys.

Both in the case of buying an apartment on the secondary market and from a developer, if the transaction is not made due to the buyer’s fault, the down payment will be kept by the seller. If, on the other hand, the seller is at fault, he will have to return twice the value of the deposit received. The real estate purchase contract is drawn up in the form of a notarial deed.

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