Hi Hivers,
We recently bought a house closeby the village Orba in Spain. That is ... the seller agreed with our offer and now we have to formalize it. Let me show you how this works in Spain for foreign buyers like us.
Orba Spain
A reservation document is drafted by the agent in which you state the price and latest dates of the purchse contract and notarial transfer.
With a small payment the seller takes the house of the marketYou hire a lawyer who does checks Kadastral / permits/ and whether or not there is an existing mortgage on the premise.
The lawyer also checks the purchase agreement and will sign it for you in Spain but you have to give them a Power of Attorney for this. You have to do that in Spain! Upon signing 10% must be paid.
If you have no NIE yet you can also provide the lawyer another PoA to request one. We both require such a NIE still. (Takes 4-8 wks!!!)
A bankaccount msut be openened again with physical presence although alos online process exists. We will do it when we do the PoA.
A notary will deposit the passing agreement with the state registers and this is when the final amount will be paid with a bankcheck.
Oh and 10% transfertax for Madrid! Due by the buyer.
At the moment we are at step 2. We will do 3 and 4 early November which mean we will be flying in once more.
Keep you posted
Goldrooster