When buying
We know everything about the procedure when buying real estate in Spain.
If you decide to buy a home through Riis Estates, we promise to hold your hand throughout the entire purchase process.
When buying a property in Spain, we strongly recommend using a lawyer, as the procedure is different from how it is done in the north. Our biggest interest is for you to feel secure throughout the process. You can choose a lawyer yourself, but I am also happy to refer you to a local, English-speaking lawyer who has extensive experience in helping clients safely through housing transactions.
We will be in continuous contact with you throughout the process. Your lawyer and the seller/seller's representative & I, are always available to answer your questions.
Out-And-About
When we have jointly found some homes that match your needs, we organize a viewing tour. Typically spread over 2-3 days, we visit different areas, while simultaneously taking a look at the homes that match your needs.
After having looked at properties together, and succeeded in finding exactly the Spanish property of your dreams, we will immediately make sure that a reservation contract is drawn up. In that way, the property is reserved for you and not shown to others!
Lawyer
We will visit your lawyer together, to receive a review and explanation of your contract. You will have to deposit a reservation amount of approx. 6,000-15,000€. The amount varies depending on whether you are buying a project or resale property. You will be refunded the full amount if the legal conditions or conditions in the contract are not met by the seller. But if you change your mind, you typically lose the amount - unless otherwise agreed between the parties.
The lawyer reviews all documents and the legal conditions in the transaction (e.g. building permits, debts, etc.) and if there are conditions that the lawyer wants to investigate further and make reservations about, the lawyer ensures that these conditions are met before an actual purchase contract is signed.
Once the lawyer ascertains that everything is in place and the deal can be approved, a purchase contract is drawn up. You will be charged the first part of the payment, which amounts to approx. 10% of the purchase price. For new construction/project sales, however, approx. 20% - 40% in installments. However, the reservation amount is deducted beforehand. In the case of new construction/project sales, the lawyer ensures that you receive a usual bank guarantee from the provider, so that your payments are secured.
The remaining part of the purchase price is paid in connection with the signing of the deed.
I recommend that you give your lawyer power of attorney to look after your interests in connection with the home purchase. That will include signing the deed on your behalf at the notary, land registration, registration with utility companies, registration of fixed expenses for automatic payment, etc. - it is a completely normal procedure that the law firms offer.
