Buyers Process

Contract
The Compra-Venta (purchase contract) can be drafted by either Habitat One Real Estate or by a legal representative. In order to draw up the contracts it is necessary to agree upon a price, completion date, details of the Buyers and Sellers. Our contracts are in English, French and Spanish ensuring that there is no ambiguity. Once you sign the contract and pay a deposit, the contract is legally binding for all parties.

Deposit
Once you have choosing a property, to secure it you will be asked to pay a deposit. The amount can vary from € 4.000 to 10% of the purchase price. However we endeavor to meet the requirements of all our clients. The deposit is refundable in full if there are legality or other issues.

I.V.A. (V.A.T)
You must pay this tax before the Escritura (title deed) can be registered in your name. In the case of a private property, the tax is 10% of the registered declared value.

Notary Fees
The Notary’s fees can vary between 350 euros to 950 euros but average at 1% of the declared value of the property.

N.I.E. Identification Cards / Numbers
Buyers are required by LAW to obtain an identification number (N.I.E.), enabling you to open bank accounts, purchase properties, connect utilities and take out insurance etc. we will be happy to provide all necessary assistance with this

Bank Account
It is necessary for you to open up a bank account in Spain in order to complete on a house purchase. Again, we will provide help you with this matter. We will help you choose a suitable local bank.

Transfer of Title Deed
Full payment is required before the Escritura (title deed) can be transferred into your name. This is done at the Notary Office. If you are buying a new property which is under construction, you must follow the payment schedule as the building reaches each stage.

Property Registry Fees
The registry fees are based on the registered value of the property, which are usually about 250 to 900 euros.