Buying a property in Spain can be a thrilling yet complex venture, full of legal intricacies and essential steps that require careful attention.
At Heniam & Associates, we are dedicated to providing comprehensive conveyancing services to ensure that your property purchase is seamless, secure, and fully compliant with Spanish law. Our expertise covers every stage of the buying process, from the initial property search and negotiations to legal checks and final ownership transfer. We handle every detail, allowing you to focus on the excitement of owning a property in Spain.
Understanding the Conveyancing Process in Spain
The conveyancing process in Spain is different from that in many other countries. Here is a detailed overview of what you can expect and how our team at Heniam & Associates will support you at each stage.
Initial Consultation and Property Search
Our service begins with a personal consultation to understand your property goals, budget, and preferences. Whether you’re looking for a vacation home, an investment property, or a permanent residence, we tailor our services to your needs.
- Initial Meeting: During our first meeting, we discuss your requirements and answer any initial questions you may have about the property market and purchasing process in Spain.
- Property Search: We collaborate closely with trusted real estate agents, helping you identify properties that align with your preferences. We handle communications with agents, arrange viewings, and make the search process as efficient and stress-free as possible.
Legal Checks and Due Diligence
Ensuring the property’s legal standing is essential to prevent future issues. Spanish property law requires several documents and verifications before proceeding.
- Obtaining NIE Number: To buy property in Spain, you need a Foreigners’ Identification Number (NIE). This number is essential for tax purposes, contract signing, and other formalities. We help you obtain this NIE promptly.
- Title Deed Verification: Before committing to a purchase, we verify the title deed to confirm the seller’s ownership rights and ensure that the property is free from debts, liens, or other encumbrances.
- Urbanistic Compliance: We check the property’s urbanistic status, confirming compliance with local planning and zoning laws. We also review building permits, environmental certifications, and occupancy licenses to ensure legal security.
Signing the Reservation Contract
Once you’ve chosen a property, we draft and oversee the reservation agreement.
- Reservation Agreement: This agreement secures the property for you while the legal checks continue. It typically involves a small deposit, which holds the property off the market temporarily.
- Deposit Payment: Usually, this initial deposit ranges from €3,000 to €6,000. It is often non-refundable unless otherwise agreed upon with the seller, making it important to proceed carefully at this stage.
Arras Contract and Further Legal Checks
The Contrato de Arras (Deposit Contract) is a critical part of the purchase, formalising the commitment from both buyer and seller.
- Deposit Contract (Contrato de Arras): This contract requires a 10% payment of the property price. It outlines responsibilities, expectations, and penalties for any breach of terms by either party.
- Additional Due Diligence: Following the Arras Contract, we continue with in-depth checks on the property’s legal standing to address any issues that might have surfaced. This process ensures there are no surprises or potential complications later.
Finalising the Purchase
The final stage of the property purchase includes signing the official title deed and transferring funds.
- Mortgage Arrangements: If you need financing, we assist with arranging a mortgage, negotiating terms with Spanish banks, and explaining your repayment options.
- Signing the Title Deed (Escritura): This deed is signed in front of a Spanish notary. At this stage, the remainder of the purchase price is paid to the seller, and the notary confirms that all conditions and taxes have been met.
- Property Registration: Once the title deed is signed, we register the property under your name at the Land Registry. Registration typically takes 1 to 2 months, after which you will hold official ownership.
Post-Purchase Assistance
Our assistance doesn’t end after the purchase. We continue to support you with practical tasks to make your transition smooth.
- Utility Transfers: We handle the transfer of utility contracts (water, electricity, gas) into your name, arranging for direct debits to simplify billing.
- Tax Compliance: Ensuring tax compliance is vital. We assist with the initial property tax filings and guide you on ongoing tax obligations, such as local property taxes (IBI).
Buying property in Spain is a rewarding journey, and with Heniam & Associates by your side, you can be confident in each step. From beginning to end, our goal is to make your property purchase straightforward and legally secure, ensuring peace of mind as you settle into your new Spanish home.
