The buying process in Spain is not very different to that in the UK. There is a belief that in Spain a survey is not required. This is not true. If you are taking out a mortgage then the Bank will not lend money without a valuation. Of course if you have the money in your bank to spend a survey is not required. This is also true in the UK - would you buy a property in the UK without a survey ? I suspect not so we strongly advise that you have a valuation done on any property you buy in Spain.

The following is a guide to the process of buying property in Spain.  The process of buying a new off plan property  and a resale property are different from the start as stage payments are made on new properties over the course of the build until completion.   Listed below are new / off plan buying guide and the resale buying guide

New  /  Off Plan Guide
When you have found the ideal property and resort and you reserve the property it will usually be held for you for up to three days.  You will then be required to pay a reservation deposit of between € 3,000 and € 6,000.  The deposit can be paid by either cash, bankers' draft, bank transfer or by credit card at the resort / developers sales office.  Once you have paid the deposit you may appoint a solicitor who will act on your behalf during the purchase process.  The developer will advise when you are required to sign the purchase contract and pay the remaining deposit.  This is usually six to eight weeks from signing the reservation contract and making the reservation deposit.  The full deposit is usually 10% but may be upto 30%.  Further to this the developer may require stage payments during construction of the property.  This may vary between developers.   Prior to construction completion of your property you will be notified by the developer of the contract completion date.  If you are mortgaging the property the arrangement should be already in place. A valuation survey will be carried out by bank in Spain if you are taking out a Spanish mortgage.  When a date and time has been agreed with the developer for completion you will be required to go to the notary’s office and sign the deed and pay the balance for the property with cash or a banks draft.

Resale property

When you have found the ideal property the agent will usually hold the property for you for up to three days.   The agent will require you to sign an agreement to buy.  A deposit of 10% of the purchase price is then required.  This deposit is non refundable if you do not complete on the purchase.  Appoint a solicitor to act on your behalf during the purchase process,  the solicitor will carry out searches and ensure that any mortgage, bills or charges against the property are paid in full prior to completion.  The mortgage, if one is required, should be organised now.  If you are taking out a mortgage with a bank in Spain they will carry out a valuation survey on the property.   At the agreed completion date and time you will be required to go to the notary’s office and sign the deed and pay the balance for the property with cash or a banks draft.