BUYING PROCEDURE AND SERVICES
You have found your ideal home in Galicia and after careful consideration you have decided to buy it. The buying procedure consists of three steps.
Step 1: Contrato de Arras (Contract)
A private contract signed between the buyer and the seller. A deposit (normally 10%) is required. When the contract is signed, it is agreed that when the buyer pulls out or cannot provide the remainder of the buying price at the end date of the contract, he or she will lose the deposit. If the owner of the property is in default of the terms stipulated in the contract, he or she will have to pay back double of the amount of the deposit to the buyer.
Step 2: NIE (Spanish tax identity number)
You are required to have a tax identity number or Numero Identificacion Extranjero (NIE) and a Spanish bank account before the transfer of the deed.
Step 3: At the notary
In the notary office you and the seller sign the deed (escritura de compraventa), pay the outstanding money and obtain the keys. You receive a copy of the signed escritura de compraventa, proofing you are the legal owner of the property.
The notary sends your escritura de compraventa to the property registry office (Registro de la Propiedad) to be registered and converted into a public document or Escritura Publica. You will receive the original, registered deed roughly two months later.
If you are unable, to be in Spain for this crucial meeting, then you can make a power of attorney (poder) at an earlier date and give this power to your lawyer or other representative.
Services of Galiciavista
Galiciavista is at your side with every step. We assist buyers with obtaining a NIE number, opening a bank account and with the connections of the electricity and telephone lines, house insurance etc. If you so desire, we can recommend English speaking lawyers, architects and builders. Our service does not stop after the notary, if you need assistance, we provide after sales services. Contact us for more information.
For those who want to use a currency exchange company we can recommend reading the free Moving to Spain Guide. This guide also includes other helpful information on taxes and finance, the Spanish healthcare service and a handy emigration checklist.