BUYING A HOME IN SPAIN - A SHORT GUIDE IN 8 STEPS

You have decided (or are thinking about) buying a property in Spain. Firstly don't panic, it doesn't have to be a mine-field!

Don't listen to hear-say or vague facts from friends, or things you may have read in the press. Here is a helpful check list of the buying process, from start to finish...... relax!

1. DECIDE ON LOCATION
2. FIND THE PROPERTY
3. NEGOTIATE THE PRICE (OBVIOUSLY WITH EXPERT HELP)
4. CHOOSE YOUR LAWYER / SOLICITOR / GESTOR
5. APPLY FOR YOUR INDIVIDUAL N.I.E. NUMBER
6. OPEN A SPANISH BANK ACCOUNT
7. THE PRIVATE CONTRACT (SIMILAR TO EXCHANGE OF CONTRACT)
8. COMPLETION (SIGNING THE TITLE DEEDS, IN PERSON OR BY POWER OF ATTORNEY)

That is the entire process and it can take as little as a few weeks from beginning to end, IF (AND MOST IMPORTANTLY) YOU HAVE THE FINANCES IN PLACE TO START WITH.

ALL THE ABOVE CAN BE DONE WITH OUR EXPERT HELP, EVERY STEP OF THE WAY AND FOR NO FEE. AT SF PROPERTIES, IT IS OUR JOB TO HELP YOU BUY YOUR FIRST PROPERTY IN SPAIN.

Now in more detail, these 8 steps are explained.

1. Decide on location - UP

If you are reading our web site you probably have narrowed down your search for a property in the Axarquia region of Malaga province.

Perhaps you are concentrating on an area only 1 hour drive from Malaga Airport. Cómpeta is a very good place to start.

2. Find the property - UP

Decide on the type of property you want. Give yourself a budget, number of bedrooms, etc. Do you want to be in a village, in the country or near the beach?
This is where our team of experts at SF can help. We can advise which best suits your needs.

For instance village properties are mostly cheaper to buy, less expensive to run and most importantly, easy to maintain. We can also help with finding good quality accommodation, whilst house hunting. You are not tied into any deal with us, you are free to choose where you want to go and who with - but if you do buy with us the accommodation is free.

3. Negotiating the price - UP

Now you have found your ideal property, we will negotiate the best price with the Vendor (owner). That agreed, a three thousand euro deposit is paid, as a holding deposit so that the property is taken off the market.

The agreed price will not change.

The deposit can occasionally be higher for a particularly expensive property but normally a three thousand non-refundable deposit is sufficient.

The money is held with your solicitor, or with us until you have organized one. A document is then signed by the vendor, stating the price and any other conditions, regarding deadlines and the date of completion.

4. Choosing your Lawyer / Solicitor / “Gestor” - UP

We at SF Properties are completely impartial. We have a list of accredited professionals with whom we have had first-hand experience. The choice is always down to you the client.

It is very important there are no language barriers and all documents are clear and written in both Spanish and English.

The Solicitor carries out all the necessary legal investigations regarding the property, making sure the title deeds are properly registered. In Spain there is also the “Catastral Registry”. Please see the foot note for more information.

5. Applying for your N.I.E. Identification Number - UP

This is a particularly important step to buying anything in Spain. All non- Spanish or foreigners, has to have an exclusive identification number (N.I.E.). It is VERY EASY to obtain.

Most Police Station's in Spain have a specific department where the N.I.E. can be obtained.

We can send a member of staff with you, to help make the process even easier.

All that is needed, is for you to present your Passport, along with a photo copy. Plus three copies of a form which we fill in for you, here in the office. Once applied for, we can collect your N.I.E. documents for you when they are ready. The time scale varies but it is usually very quick.

6. Opening a Spanish Bank Account - UP

Again this is entirely your choice. You may prefer to organize this before arriving in Spain but if not you can open a Bank Account with a variety of local Spanish Banks when you arrive.

All speak English and can organize sending statements to your home address, or you can check your account on line.

We can accompany you to the bank of your choice to open an account. For this you will need your N.I.E. number.

7. The Private Contract - UP

Your solicitor having made all the appropriate checks and made sure the property complies with the law, will draft a private contract that both parties will sign.

This contract has all the details of the agreements, the payment form and the date of completion.

At this stage 10% of the sale price of the property has to be paid. Minus the three thousand euro deposit.

8. Signing the Title Deeds - UP

This document finalizes the exchange of property from the vendor to the buyer. It includes all the important and relevant information about the property and plot. The buyer and vendor both sign the title deeds of the property.

This procedure takes place at the Notary Office. Where the state official who is assigned, will certify the contract is legal. Also that it has been correctly signed and both parties advised on the payment of taxes.

This person assures you that all legalities have been for filled.

A members of our staff accompany you, during this final stage of the buying process.