Here we explain the four-step process of buying Spanish property with us.
Step 1. Preparatory
The major task on this stage is to familiarise with our listings and select those properties that best fit your wishes and needs.
On making an idea of what your future Spanish property should be, please contact us in any way described in the “Contact” section. Our specialists will advise you on how to organise your trip to Spain and what aspects should be taken into account before coming over.
Step 2. Visit
You can start visiting apartments and houses on the very first day of your arrival. Seeing everything with your own eyes will help you focus in the variety of offers, evaluate the qualities of this or that property and make the final decision. Our experienced specialists will always accompany and advise you.
Step 3. Legal Formalities
After you have chosen the property of your dream, we can proceed to legal formalities.
Our services include:
- Getting issued a NIE number (the identification number for non-Spanish citizens) in the police office;
- Opening an account in a Spanish bank;
- Arranging a mortgage with a Spanish bank (if necessary);
- Accompanying to a notary and a lawyer.
At this stage an internal real estate purchase & sale agreement is signed, the payment form is agreed, and the day of the deal is fixed. The buyer leaves a deposit amounted to 5-10% of the purchase price, what guarantees holding up the chosen property for them until the day of signing the title deed at the Notary’s.
We ensure that all the properties in our database have been fully checked by our competent specialists. We provide our clients all legal documentation including the Land Registry extract and the Cadastral certificate, as well as check that there’re no debts or charges on the property, no legal proceedings initiated against the property, revise planning permissions, building restrictions, the latest town plan, etc.
It’s important to mention that since MEDITERRANEAN PROPERTIES took its place in Spain’s housing market in 2002, we have never had a single case of litigation, a fact that few of our competitors can boast of.
Step 4. The Deal
At this stage the purchase is completed at the Notary’s office where both sides – the seller and the buyer – sign the title deed (Escritura). The seller is given a bank check for the amount of the purchase, and the buyer is given the keys from their new property as well as the copy of the title deed. From then on you become a legal owner of a Spanish property!
The original title deed is sent to Spanish property registry for inscription and is given you back in approximately two months. In case of mortgage, the public deed is sent back to the bank.
If you pay the property using your own funds the whole purchase process takes from 5 to 7 days; in case of mortgage all the formalities are completed in approximately 1 month.