Known as the Escritura in Spain. All properties for sale are checked with the land registry to ensure that the seller has title to the property and there is an escritura to hand over on completion of the sale.
A purchase tax, payable by the buyer, of 8% to 10% of the selling price is levied on the sale of all property. There is also another tax called plus valia that is paid by the seller. There are no fees payable to the agents as the seller is charged a commission on the selling price as in the UK.
We will put you in touch with Spanish lawyers who can handle the sale for you. It is important to have a lawyer with good local knowledge of subjects such as planning/building regulations, local water supplies, community charges etc. The lawyer will ensure that you receive full registered title to your property with no charges registered against it. If you want further information about buying we will give you their email address.
Normally a minimum deposit of 10% is paid when you sign the contract which is drawn up by the estate agent. The balance is payable by an agreed completion date which can be as little as one week. The lawyer will check all aspects of the contract, the transfer of funds and registration of the title of the property in your name. Mortgages can be raised in the UK or with a bank in Spain.
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