Finding your property: There are a number of agents with a great variety of property in our area and it can get confusing. In Spain sellers are not tied to 1 agent in exclusivity. The usual would be for the seller to state his net price and agents to add their commission. This will usually be 5% but, on many occasions can climb to 7, 8, 10% or more. That is why you will see the same property at different prices.

Grapevine Estates will do 2 things;

1) Any property listed by us will either have the commission in the net figure or have 3% or less added.
2) If need be we will share properties with other agents. We ask them to share their commission and not add any more.

Payments: RESERVATION: When you find the ideal property you will be asked to place a reservation figure. This can change with each buyer and can be between 500€- 6000€. It is not compulsory but, we recommend a reservation contract is signed by all parties (We are happy to arrange this). At this stage you can stipulate any requirements (quite often “subject to correct paperwork” is good to apply). At this stage it is recommended you instruct a lawyer. They will be able to make checks on the property before any further moneys are exchanged. It is also a good time to ensure your funds are ready for the purchase. Do not forget buying in Spain can add up to 12% of the property price to your purchase. This will include lawyers, notary, registry and other necessary fees. We can put you in touch with local banks. It is normally the case that mortgages obtained in Spain are a lower rate than in England.

Around this time it is advised you obtain an N.I.E. number. This will allow you to buy and sell in Spain (we can help you obtain this without charge).

PRIVATE CONTRACT: The next stage is signing of the Private Contract. It is normal in Spain for the buyers to pay the sellers 10% at this stage. On occasion a new figure to suit all parties can be agreed. Once this 10% is paid and the contract is signed the sale is formalized. Infact, by law, if after this stage the buyer pulls out he looses his money and if the seller pulls out he has to pay the buyer twice the amount! At Private Contract all parties will agree a date for completion. The norm in Spain is 2 or 3 weeks later but, an agreement for a few months can be reached with some sellers.

The lawyers will now arrange the Title Deeds to go into the buyer’s name, ready to be signed at the Notaries Office. They will also arrange all other necessary paperwork and connection of utilities.

COMPLETION: At completion, all parties will need to attend at the Notaries office. Here the Notario will witness the exchange of fund for the keys.

THE PROPERTY THEN IS YOURS!

It can be simple and all done within a month but, it can also get complicated and take a lot longer. We recommend you always use a lawyer. We are happy to help where possible and will gladly be with you at each stage but, there is quite a lot of Bad Paperwork in Spain and the trained eye and experiences of a lawyer are best.