Buying a property in Spain is an exciting venture, but it involves numerous legal steps and potential pitfalls. At Heniam & Associates, we specialise in providing comprehensive conveyancing services to ensure your property purchase is seamless and secure. We offer expert guidance through every stage of the process, from initial property searches to finalising your ownership.
The Conveyancing Process in Spain
Understanding the conveyancing process in Spain is crucial for a successful property purchase.
Here is a detailed overview of what to expect and how Heniam & Associates can help:
Initial Consultation and Property Search
- Initial Meeting: We begin with a consultation to understand your needs and preferences.
- Property Search: We assist in identifying suitable properties and liaise with real estate agents on your behalf.
Legal Checks and Due Diligence
- NIE Number: Obtain your Foreigners’ Identification Number (NIE), essential for any property transaction in Spain.
- Title Deed Verification: We verify the title deed to ensure the seller has legal ownership and the property is free from debts or legal issues.
- Urbanistic Compliance: Check the property’s compliance with local planning regulations and ensure all necessary permits are in place.
Signing the Reservation Contract
- Reservation Agreement: Once you decide on a property, we draft a reservation contract. This typically involves a deposit to secure the property while legal checks are completed.
- Deposit Payment: A reservation fee (usually €3,000 to €6,000) is paid, which is non-refundable unless otherwise agreed.
Arras Contract and Further Legal Checks
- Deposit Contract (Contrato de Arras): This contract requires a 10% payment of the property price. It outlines the obligations of both parties and includes clauses for addressing any legal irregularities.
- Further Checks: Continued due diligence to resolve any outstanding issues identified in the initial checks.
Finalising the Purchase
- Mortgage Arrangements: If needed, we assist in securing a mortgage and negotiating favorable terms.
- Signing the Title Deed (Escritura): The final contract is signed in front of a notary, who ensures all conditions are met and taxes are paid. At this point, the balance of the purchase price is transferred to the seller.
- Property Registration: The new ownership is registered with the Land Registry, which can take 1-2 months.
Post-Purchase Assistance
- Utility Transfers: We help transfer utility contracts to your name and set up direct debits.
- Tax Compliance: Ensure all local taxes are paid and assist with any necessary filings.
