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Our team at Moorish Homes will advise and assist you with all the technical and legal aspects of buying or selling property in Spain. It is common practice in Spain for one representative, the estate agent, to undertake the conveyancing for both the vendor and the purchaser. We will carry out the conveyancing on your behalf without charge, but if you prefer to use a lawyer or gestor instead, we can recommend local ones, though you will personally be responsible for paying their fees.
Applying for an N.I.E (Número de Identificación Extranjero) It is essential to have an NIE number for any financial dealings you may have in Spain - you cannot now buy a house without one. An NIE number is an identification number which registers you with the Spanish government as a non-Spanish national in Spain. Once you have your NIE number, this takes the place of your passport number for all official business. However you will still need to show your passport as a means of identification. Although you need to attend in person to apply for your NIE number, we will manage this process on your behalf and accompany you to the NIE office. There is no cost associated with an NIE number. You just need to bring 1 colour passport photo, a photocopy of the relevant page of your passport and your original passport. Private Contract and Deposit · Once you found the property you want to purchase and agreed upon the price, a deposit is required to secure the property and officially confirm your intention to purchase that property. · The amount of the deposit can vary but is normally 5-10% of the purchase price. · We draw up a private contract for both the vendor and purchaser sign. The contract serves as confirmation of the payment of the deposit and states the agreed purchase price and date for completion.
Property Searches
We carry out all the necessary checks on the property to ensure that there are no outstanding debts and safeguard your interests: · Spanish law holds the legal owner of a property liable for all the charges or embargos on the property no matter who was responsible. This means that any outstanding debts or judgements against the property will automatically transfer to the purchaser after completion. · We carry out all the necessary procedures to ensure that the property is free of all charges. On your behalf we go to the Property Register (Registro de Propiedad) and obtain a Nota Simple. This document shows if applicable, the latest recorded details of any charges or embargos.
Preparation of Documentation for the Notary
· Once the searches on the property are satisfactorily completed, we prepare all the information for the notary to draw up the new Title Deed (Escritura) · We make an appointment the date of which is agreed by both vendor and buyer, to sign the new title deed in the notary’s office. · On the day prior to the signing the notary will obtain the latest information on the property from the Property Register, in order to ensure that the property is being sold free of debts and embargos.
Signing in the Notary
· The Notary protects the interests of both the vendor and the buyer · Both the vendor and the buyer, along with a representative from Moorish Homes, will be present in the notary’s office for the signing. · The agreed purchase price (less the deposit already paid), plus the purchase tax and the notary fees are payable at the signing of the title deeds. They can be paid by any combination of cash, certified banker’s cheque or a direct transfer of funds between the buyer’s and the vendor’s bank accounts. · The Title Deed is always prepared in Spanish. If you are not fluent in Spanish we will, without charge, translate the content of all documents prior to signing and also provide a translator during the signing. · The Notary will read out the content of the Title Deeds to ensure that everything is in order and that both parties are in agreement. Once done, the vendor, the buyer, the translator (if appropriate) and the notary will all sign them. · This original signed document is retained by the notary, who will apply to the Land Registry for a formal change of ownership · You will receive an initial copy (Copia Simple) immediately and once the original signed deeds have been processed, which may take between 3-6 months, you will receive the final official Title Deed (Escritura Pública).
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