The legal process for buying your dream Spanish Property
involves. 
Having two contracts to be signed the first is the Contrato
privado de compraventa contract and next is the Escritura de compraventa contract.
The first contract Contrato Privado de Compraventa is a bill of sale
between the two parties the seller and the buyer. The seller
must be able to provide proof of ownership and also that the
property has no charges or debts on it, then and only then is
when the contract can be signed.
Any debts must be paid by the purchaser of their property as part of their % LINK 2% agreement. Note this Simple clarifies that properties are free from debts and that none are overdue.
The main points on the sales contract are as follows, the agreed price, the date of completion and detailed account of the property. A deposit is required with the signing of this contract and can be as much as 25 percent of the buying price this money is held safely in " escrow " this is an account established by a broker or lawyer, under the provisions of license law, for the purpose of holding funds on behalf of the lawyer's principal or some other person until the consummation or termination of a transaction. Singing this contract without a deposit may weaken the contract.
Escritura de compraventa is the second contract. On the completion date, the balance of the sale and all fees need to be paid by the purchaser. Both parties should meet to finalize the deal with the signed contract, this is the equivalent to a property deed. The purchaser will receive the public deed of conveyance, " escritura ", in front of a Notary Public. To make this legal, a copy of the deed must go to the tax office, and then sent to a property registry. Notary Public must be present on the deed of sale. It is in your best interest for your own lawyer to be there throughout these proceeding. Bear in mind that Spanish Property has sales taxes and legal fees for the Notary Public is to paid buy the buyer.
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