The procedure for completing the purchase of property in Spain may seem quite complex at times, and we are happy to provide you with expert guidance.
In the first instance, the buyer signs a private contract establishing the property being bought, the price, the form of payment and the completion date. This document is signed by all parties without the intervention of a Notary. The parties are obliged to fulfil this contract, but it is not valid in relation to third parties. Usually, the deposit of about 10% of the agreed price.
This is known as FOREIGNERS IDENTIFICATION NUMBER. It’s not a social security number, but rather is an identification for tax purposes. It’s compulsory for foreigners to obtain one when they have properties/interests in Spain. The number never changes – even if the person buys and sells many different properties. In the event of the property owner selling up and moving out of Spain, that number will remain theirs, regardless of the time spent away from Spain. THE SIGNATURE OF ANY TITLE DEED IS NOT POSSIBLE UNLESS THE NIE IS PRESENTED TO THE NOTARY.
When the time comes to complete the purchase, the Title Deed (called Escritura in spanish) is signed before a Public Notary. IT IS STRONGLY RECOMMENDED YOU USE THE SERVICES OF A SOLICITOR TO MAKE SURE EVERYTHING IS IN ORDER. Your solicitor will attend the notary with you or in the event that you cannot be present in Spain he/she can also represent you with a POWER OF ATTORNEY.
REGISTERING OF TITLE DEED:
MAM Solicitors will take care of paying the transmission tax on your behalf, as well as to make sure the property is duly registered in your name. For more information, see taxation and cost. We will also take care of setting up all the utilities contracts for your property.
Next page: Taxation and costs >>