OUTLINING THE BUYING PROCESS

Deciding to buy a property in Spain is an exciting and potentially life changing decision. Whilst there are some differences from buying properties in other countries, it's not too complicated once you understand the process.

You also have the reassurance that Verdin Property will always be at hand to assist as much as we can

Below, we outline the basic steps of the buying process You can then jump ahead to read about each one in slightly more detail.

FINANCE: The most important basic step for any purchaser Make sure to do a financial calculation of how you are purchasing a property and whether or not you will be asking for a mortgage This can add approximately 2-3 months on to your timeframe. Remember to add on approximately 10% to your budget to allow for buying costs

LEGAL: Always make sure you have a trusted legal representative to be able to check property documents, process your Spanish ID and banking process

VIEWINGS: Agents on the Costa del Sol have a sharing MLS network, so you only need one agent to be able to show you every property. Ensure your agent is happy to show you all properties, not just their own stock where the underlying motive is higher commission.

DEPOSITS: In Spain we typically have a three stage process Firstly a holding deposit to take the property off the market. This ranges from 6000€ to 1% of the purchase price depending on value Then we go to PPC (Private Purchase Contract) where you pay 10% of the price, minus what has been paid already as a holding deposit. Finally a date is set to sign the paperwork at the Notary Public where you will pay the balance and become the legal owner.