Purchasing a second home in Spain

Spain has been the most popular European country for second home buyers overseas for years, although  buying a villa or apartment on one of the Spanish costas is quite a different process from what you may be used to. Ensure that you are well prepared in order to get the best guidance so that you can buy your second home in Spain without any problems.

Buying a property in Spain. If you buy a property in Spain you will have to abide by Spanish rules and regulations. The first thing to do is find out who the owns the plot. This is very important. According to Spanish law the owner of the plot also owns any buildings on it or any buildings that will be built on it. Also you will need to check if there are any debts secured against the plot. If the title is tranferred to your name, you will automatically take over any outstanding debts.

Escritura. It is advisable to ask the vendor for a copy of his deed of ownership (escritura). You can check the details of this document at the Land Registry office, or a legal advisor, like a solicitor or gestor, can check the details at the Land Registry office. It is often possible to make a reservation for a short period of time on the house. During that time you will have the chance to do your research without running the risk that the house will be sold to another party.

The Contract. When you have made the decision to buy the house you can immediately sign the deed of ownership in the presence of the notary public. It is more customary to first sign a Contrato Privado with the vendor. To confirm the sale you will pay a deposit of 10% of the purchase price, minus the amount you paid for the reservation. The definite date of conveyance will be stated in the Contrato Provado. This would normally be two or three months after the signing of the preliminary buyers contract.

The Conveyance. The actual title transfer will take place at the office of the notary public. A few days before this meeting you will receive a draft buyers contract. This will enable you to have it checked by your solicitor or legal advisor. If you do not speak the language you will need to ensure that and interpreter is present on the day of the title transfer. After you have signed the Escritura the notary public will file it and you will receive a copy. You must register your property with the Property and Land Registry for the sale to be legal. After that you are the owner of the property.