The purchasing process can vary from property to property and can be altered to suit individual cases, though generally the following can be used as typical examples.


New Properties
Due to the high demand in purchasing property in Spain , if you see something you like it is important to reserve it. This is done by placing a deposit there and then for the amount of 3.000 € approx £2000 this can be done by credit card of cheque. Thereby the property is removed from the market immediately and the price is fixed. Contracts can then be prepared for you to sign either in Spain, following legal advice or sent to you at your home address. Normally at this stage ie. one to two weeks after the initial deposit, a further 10% of the purchase price is paid. This is followed by a further 40% payment,one to two months later. According to the completion date of the property and the builder, an interim third payment is also necessary,followed by the final amount or balance when the property is completed and you are ready to move in.

To summarise for a property with a Completion date of the one year.

1. Initial deposit 3.000 €
2. 10% payment, 1 to 2 weeks later
3. 40% payment, 1 to 2 months later
4. 25% payment, 5 to 6 months later.
5. Final balance, 25% payment on completion

Again it is important to note that this is intended as an example, and may or can be altered according to the builder.

Resale Properties

In the case of resale (second hand) properties, the payment structure will obviously alter, due to the fact that the completion date is a lot quicker. This will be dependant on both the purchaser and the vendor. Here it is important for a local lawyer to interact between both parties to ensure that the transaction can be achieved as smoothly as possible. Normally, completion can take place within one to two months after the sale has been agreed

A typical example for a resale property.
1. 5.000 € initial deposit
2. 10% of the purchase price ten days later.
3. The balance or 90% due on completion.