Many foreign people wish to live in Spain because they like the climate, the gastronomy, the culture, etc. However, to buy a house in this country it is better to have the help of lawyers specialized in this matter, such as Prime Legal. In this way, the process will be faster and easier.
Today, in this article, we will talk about the process to buy a house in Spain for non-residents and how long it takes to register a property.
Purchase process for non-residents
Before you know how long it takes to register a property, it is interesting that you know the process for buying a home by non-residents.
- First of all, you need to find the house you want to buy and negotiate with the seller the asking price.
- Once the price and conditions are agreed, you will be asked to sign the reservation/deposit contract. This private contract demonstrates a real commitment to purchase. And also, you will be asked to pay an amount of money than can vary, this is, a deposit.
- Get the advice or help of professional lawyers before sign any contract or pay any amount as this amount normally is non-refundable.
- Prepare the necessary documents among others, you’ll need to obtain the Identification Number for Foreigners (NIE) and to open a bank account in Spain.
- Start looking for a mortgage if you need financing.
- Shortly after the reservation, you will sign the Private Purchase Contract, this is the exchange of contracts, where the terms and conditions of the purchase will be.
- The deed of your property will be signed before a notary.
- Afterwards, pay taxes and other costs such as the notary; and…
- Finally, register the property into your name!
How long it takes to register a property?
Now that you know all the process of buying a house for non-residents, we show you how long it takes to register the property.
Once you sign the title deed you will be the owner of the property although it takes longer to be registered.
Do not forget to appoint specialized lawyers in this matter to help you throughout the entire buying and selling process. At Prime Legal we help you achieve your goals.
Is your dream to buy a house in Spain? Prime Legal can help you!
If you want to live or invest in Spain, Prime Legal can help you throughout the process. Our experienced and qualified lawyers will help you buy your home in Spain.
Do you need more information? Contact us now!