The 3 Step Buying Process

The Private Purchase Contract

Purchase deposit of 10% (minus the Reservation Deposit already paid).

This is the binding contract in which both parties agree to the sale/purchase of the property. Both parties agree on a date of completion - which can be anywhere between 1 to 4 months.

The Completion

Payment of the 90% balance at the Notary.

The conveyance title deed is to be signed upon completion in front of the Public Notary and the keys are handed over.

After this completion, the lawyer:

• registers both title deeds with the Land Registry
• pays the Public Notary fee
• pays the Public Registry fee
• pays the legal tax at Malaga Tax Office
• sets up all necessary direct debits
• utility contracts, local taxes, rubbish
• collection in your name and arranges for standing orders at your local bank
• in order to provide your electricity connection, you will need to provide us with the contact number of someone who can grant access to the relevant engineer.

If you are applying for a Spanish mortgage, we will prepare the mortgage title deed which will also be signed in front of the Public Notary upon completion

The Reservation

So you found the property you liked. You put in an offer, and when both parties agree then...

Reservation deposit of 3000-6000 Euro. This step is meant to: Show intent, take the property off the market, and for your lawyer to start the legal searches.

The solicitor can open your bank account on your behalf if given power of attorney, and will also apply for your NIE number - or Tax identification number - at the Tax Office in Malaga.

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