Buying a property in Spain is a dream for many and everyone has their own reasons for doing so. Are you looking for a profitable investment? A vacation home to spend the summer? Or do you just want to retire by the sea in the land of sunshine and delicious tapas?
Buying property in Spain requires a professional approach and careful planning to ensure that the process runs smoothly. The NB-Estates team has been successfully applying their 8-step plan for more than 7 years.
Step 1: Intake interview
NB-Estates resolutely opts for personal guidance in the search for your dream home! We like to first take the time to get to know you and your dream project. What are you looking for? In which region? How often do you wish to travel to Spain? We also explain during this introductory meeting what our philosophy is and how NB-Estates works. We clarify our approach, our neutral way of advising and our step-by-step plan to purchase. We also give solid advice on the taxation and regulations surrounding the purchase of property in Spain.
Want to schedule a meeting? This can be done through an online conversation, through a visit at your home or in one of our offices in Antwerp, Tenerife or Alicante.
Step 2: Discovery trip in Spain
After the intake interview, together we plan a time for a discovery trip in Spain. We prepare several visits tailored to your criteria, budget and dreams. During this inspection trip, we accompany you from A to Z: one of our employees picks you up at your hotel or at the airport and takes you on an exciting two or three-day tour during which we visit different properties, projects and regions together.
Of course with the goal of finding your dream home!
Step 3: Found your dream home
Have you found your dream property? Are you 100% convinced of your choice? Then we prepare the purchase by drawing up a reservation contract. Thanks to this contract, the property is withdrawn from sale and reserved especially for you. The advantage: you do not run the risk of having your dream home stolen from you and we ensure a thorough legal check of the property and the project.
Step 4: Private purchase contract
In the next step, you proceed to effective purchase through a private purchase contract. This is best compared to a compromise. This is a legally binding agreement drawn up by the seller, in many cases a Spanish construction promoter or project developer. Also in this phase we provide full guidance and control, so that also this phase is carefree.
When the purchase contract is signed, a down payment of 10% of the purchase price is usually requested. Further payments are staggered according to the payment schedule included in the purchase contract. Especially with new construction, payments are staggered according to the completion of the construction work.
At this stage it is customary to hire a lawyer to assist you in the legal proceedings. We can also guide you in this if required.
Step 5: Completion of your dream home
If you have purchased a new home, count on a time span of two years until the final delivery. Here too, we provide thorough checks: the responsible architect certifies after completion that the project was built according to the approved plans. Our agency also carries out an inspection of the property and checks that it is completely finished, that the desired level of finishing has been respected and that the utilities and the certificate of conformity are in order.
In summary, everything must be 100% according to your requirements in order to proceed to the next step.
Step 6: Notarial deed
We are almost at the end of our journey. Once all inspections of your dream home have been carried out and approved, the official signing of the notarial deed follows.
The notary will hand you the keys to your home and the final payment will be arranged. The lawyer who accompanied you on the purchase contract will also be present to make the necessary checks.
You can be present or work with a power of attorney so that everything is arranged for you.
Step 7: Registration and administration
Before you can really start enjoying your dream home, we take care of the last formalities. Think of registration in the Spanish land register, registration in the land register, conclusion of the necessary contracts regarding utilities, TV, internet, etc.
Here too NB-Estates takes care of everything from A to Z.
Step 8: Aftersale service
And now it's up to you....Finally enjoy your dream paradise!
And do you still have questions or need advice? Then the NB-Estates team is ready with advice and tips.
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Author: Filip Berger and Frederik Hoogewijs