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PROPERTY GUIDE
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Spanish Property Guide
Useful advice on purchasing a property in Spain

PROPERTY GUIDE: ARTICLE 4. PURCHASING TIPS

TIP 1. GOLDEN RULE
Before you place an offer be sure you are in a position to buy and that you can raise all the finances for the purchase.
TIP 2. PLACING A HOLDING DEPOSIT
When you have decided to go for a property the next step is putting down a holding deposit to remove the property from the market. ThinkEbro usually suggests around one thousand euros and in 15 days from that day transfer from England the 10% of the cost of the property. At this stage you will also sign a holding contract.
TIP 3. SORT OUT YOUR NIE NUMBERS
ThinkEbro will give you the forms to fill out and will take you to hand them in. These are obligatory for non-residents prior a purchase takes place or to open a spanish bank account.
TIP 4. OPEN A LOCAL SPANSIH BANK ACCOUNT
To proceed with the spanish property purchase it is essential to open up a bank account. ThinkEbro will take you to open an account and help you with all related paperwork, acting as a bridge between you and the bank manager.
TIP 5. BE SURE THINGS ARE DONE BY A SOLICITOR
The solicitor will be in charge to ensure the spanish property is in good legal condition, handle all the payments, making the contracts, etc.. for the future buyers. ThinkEbro will take you to an experienced solicitor who also speaks english who will ensure that the property doesn't have any debts or similar charges, if it has he will inform you about everything.
TIP 6. COMPLETION DATE
This date is stated in the holding contract signed at the first stage of the process. On this day you pay the balance of the purchase price and all fees. The title deeds will be signed by the new owners in the Notary's office, who will make sure all taxes are paid and that the Title Deeds are correct.
TIP 7. TRANSFER THE SERVICES IN YOUR NAME
This can be done once when you take possession of your property, which takes place on the completion day. It is important to do this change over of names (i.e., for the water, electricity, etc...) if not it will cost money to register again for the service.