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Off plan investors in Spain experience a simple buying process, not much different from that of other major European countries, regardless of the bureaucracy that can bog proceedings down. As always, a trusted local lawyer should be employed to help with all proceedings and make things go as smoothly as possible, thus avoiding any potential mishaps that can occur in the process. After deciding on a property location and agreeing on a price, a contract is drawn up for the buyer and seller to sign. After signing, a lawyer should conduct checks on the property to make sure there are no hidden pitfalls – outstanding debts attributed to the property etc. Once these checks have been carried out, a deposit of around 10 percent of the total is paid to the seller and the documentation is sent to the local Land Registry for deeds and the like to be signed over. Once it is confirmed that this has been carried out, the remainder of the fee is paid in full and any outstanding taxes or fees are paid. Payable fees include applicable lawyer, estate agent and notary fees. Other taxes and costs may be incurred on top of these charges.
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