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Buyers Guide
A Reservation deposit is standard practice – the amount dependent upon the price of the property – normally a minimum of 5000€.
This “reservation” removes the property from the market and is then followed by a more substantial deposit paid at the same time as the “Private Purchase Contract”.
Completion follows at an agreed date whereby the remainder of the purchase price less these deposits is finalized in the office of a Notary where all parties and / or their legal representatives are present.
Spain has tax levies depending upon the status of the property, i.e., owned in a personal name, company name, a completed property or the purchase of land only.
These are paid by the buyer and these amounts should be taken into consideration when calculating the overall cost of a purchase.
Please ensure that when Buying – the basic principals are followed
Use a Lawyer
The property must be legal
Use a reputable Agent
Location, location and location