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frequently asked questions about legal matters when buying property in SpainWe have listed below questions most frequently asked about legal matters by our clients. If you have any questions not listed below, please feel free to contact us by email. info@hiperprop.com
Can I negotiate on purchase price and conditions ?
Once you have chosen a suitable property, purchase price, terms and conditions are discussed with vendor. Your offer may be subject to a mortgage, or you may require a delayed completion. This must be stated at time of offer. We can recommend a lawyer who can help you with this process.
Do I pay a deposit to vendor ?
A deposit is not normally paid direct to vendor, but to selling agent or lawyer representing you in your purchase. The minimum normally required is in region of 3000 euros, but may be greater for higher-priced property. This reservation deposit is paid by cash or credit card, and will reserve property until contracts can be exchanged and 10% paid over.
How do I choose a lawyer to represent me ?
We can recommend a number of different lawyers who can represent you in your purchase. They will speak in your native language, can be reached by phone, fax, and email, and are happy to ensure that your purchase is as trouble-free as possible. A lawyer will provide legal guarantees that purchase of your property is free from any debts or charges, and that all fees including electricity, water and community fees are paid up to day of completion.
When are contracts exchanged ?
Upon acceptance of offer by vendor and payment of reservation deposit, next step is to exchange private contracts. This normally takes place within about 14 days. Your legal representative would have made steps to make sure property is free of debt or problems as above, and private contract will set out agreed selling price and date of completion at notary. It is normal practice at this stage to pay 10% of purchase price.
