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Mortgages & Legal

General Guide to Buying Property in Spain

If you are considering taking a Spanish mortgage to fund the property you are purchasing, as a non-resident of Spain you will only be entitled to borrow approximately 70% of the property value.  This will be something that you will be able to discuss in more depth with a Lawyer, and in the instance of requiring a mortgage the Lawyer will make the necessary applications to the banks for you.


At K&N Property Buying Services we can recommend highly qualified, independent Lawyers, although if you do already have your own Spanish Lawyer we will be happy to direct the sale through that specific Law firm.  We do however recommend that if you are purchasing in Spain you use a Lawyer based in that country/area.




Described below is the general procedure that takes place when purchasing a Resale Property:


  • Once a suitable property is found you will be asked to make an immediate reservation deposit (approx. €3,000 although this can differ slightly between properties) ensuring that the property is not sold to another buyer.  Although this process is different to buying in the UK for example, it is a standard procedure in Spain.

  • Approximately 10–15 days later a deposit* of normally 10% of the purchase price of the property is required.  At this stage a private contract is signed between the vendor and the buyer, this is conducted by a mutually appointed Lawyer.

  • Your Lawyer will guide you through all the stages involved in this important transaction.  They will ensure that all the Spanish legal requirements are met, that the property is registered to the vendor and that it is free of mortgage or any other debts or liabilities.

  • Your Lawyer will now discuss with the vendors Lawyer the terms of the purchase, i.e. the completion date and the form of the final payment etc.

  • On the agreed day of completion your lawyer will go to the Notary Public to sign the Title Deed and make the full payment to the vendor.  This now gives you full rights of possession and the keys to your new property!

  • A copy of the Title Deed is faxed immediately to the Land Registry notifying them of the new owner thus ensuring the property can not be double sold.  The Notary and Land Registry work in conjunction to guarantee your interests.

  • The purchaser now pays any relevant taxes and the original Title Deed is given to the Land Registry for registering your title.

  • The purchaser can now ask the Lawyer to arrange for utilities and services to be put in their name and paid through a specific chosen bank.


*It must be noted that after the 10% deposit is made and the private contract has been signed this payment is not normally refundable if the purchaser defaults, but conversely, if the vendor fails to complete the transaction compensation may be sought from the vendor.



The process for purchasing Off-Plan Property is very similar to the above except each development holds different payment plans in which stage payments are to be made.  These payments can range from anything such as a lump sum at Private Contract and the balance on completion, to even payments throughout the building process.  A deposit is required when you decide on a plot/specific property in order to secure the sale.


We make sure that the developments we choose to work with have all the licences in place.  Your Lawyer will check this for you too before stage payments begin for peace of mind.


If you would like further details on any of our properties/ mortgage information or are planning a trip to Spain and would like to meet with one of our experienced sales negotiators please Click here and enter your details.


We pride ourselves on our service to our clients and aim to give the best assistance throughout Spain.

Email: help@kandnpropertybuying.com
Copyright 2006 K and N Property Buying Services