Conveyancing experts answer the question: What do I need to do to buy a property in Spain?

The Pérez Parras Economists & Lawyers Firm in Málaga and Nerja advises a large number of clients on their home purchase and sale operations.

When buying or selling a home, do take advice from qualified professionals with experience in conveyancing. This important financial transaction can become unnecessarily complicated by not taking the appropriate precautions.

We will detail below the main elements of a sale contract and the information required before buying a property.

Sale contract:

With a sale contract, it is not necessary to hand over either the property or money to make such a contract. Conversely, it is imperative to agree on the property and a price. Therefore, it is considered that there is an agreement and a contract in a sale when the two parties agree to the sale of a property for a certain price, even if, in the end, the operation is not completed with the delivery of the property or the agreed money.

To carry out a sale, the Spanish Civil Code does not demand anything special, apart from what is already established. At the same time, it does foresee special situations: cases of property with children under the authority of their parents, property of a marriage in which both spouses decide on the purchase or sale of a dwelling, etc…

It is possible to buy and sell homes or things that do not even yet exist (Article 1460 of the Civil Code), i.e. buying and selling property off plan, that will be built in the future. In addition, the seller must hand over the home in the same condition it was in when the sale was agreed, including all the fixtures of the home, even if they were not mentioned in the sales contract.

Conveyancing in Malaga and Nerja. Buying and selling properties is easier through Pérez Parras Economists and Lawyers

Costs of the deed of sale rest on the seller, but the first and subsequent copies of the new deed concern the buyer. The costs of registration in the property registry also rest on the buyer.

Important information that you need to know before buying your new home:

• That the construction of the building / house has a planning permission (work licence) in order.
• That it has a license for first occupancy (very important in the case of wanting to run a home as a tourist property).
• Registration in the property registry of the city.
• That there is a bank guarantee in the case of instalment payments for purchasing the home.

In the case of buying a second-hand home, you should know the following information:

• Existing information in the property registry. It verifies who the current owners of the building are. It checks if there are financial charges, or judicial sentences, that may affect the future buyer.
• That the most recent IBI bills have been paid.
• That Community bills have been paid.
• The name of the current owner of the property.
• Whether there are charges or mortgages associated with that home.
• That the property is not leased (rented) and whether there are tenants.

Buying and Selling a property in Malaga or Nerja? Conveyancing will be safely handled by our experts Pérez Parras Economists and Lawyers

Next steps:

The sale agreement is finalised in a document signed before a Notary and registered in the Property Registry.

If you are not resident in Spain, before carrying out the purchase, you will need a NIE (Foreigner Identification Number).

Register as the new owner in the Property Registry.  This will address future disputes over your property.

Should you want to buy or sell a property, do not hesitate to consult our office of Economists & Lawyers in Malaga and Nerja since you can count on qualified professionals and their conveyancing experience to help you in all the steps of the transaction, including the necessary tax settlements, offering you the best guarantee and peace of mind in a delicate transaction such as the sale of a home.