Once you’ve decided to buy your dream home, and the price has been negotiated, Sharman Estates will guide you through each of these 6 steps. Buying your new home has never been easier.

The 6-step Buying Procedure

1. Initial property check

Before your down-payment on the property, Sharman Estates will acquire the Nota Simple (or “Land Registry Local Search”) for the property. This ensures the asset is debt-free, confirms the ownership, and provides a description of the property, which is then transmitted to the buying party.

2. Financing the property

If you plan on financing the property with a mortgage, Sharman Estates is here to help. To find out more about mortgages and what we offer, please use the contact form to speak with one of our experienced agents.

3. The deposit contract

Before the signing of the public deed, it’s common practice to sign a private deposit contract with the seller, in which the seller expresses their intent to transfer the property to the buyer, and the buyer expresses their intent to buy the property at the stated price and conditions previously agreed upon.

A deposit is then paid, ranging from 5% to 10% depending on the sale price. The deposit contract establishes all the necessary information to ensure a smooth process that protects both the buyer and the seller.

4. Before you purchase

To open a bank account and purchase a property in Spain, you require an NIE identification number. If you do not yet have an NIE number, Sharman Estates will happily arrange this for you. We can also assist with opening a Spanish bank account, which will be required to transfer the funds to purchase the property.

If you need Spanish translation services at any stage, we are happy to oblige.

5. Mortgage Appraisal

After the bank has received a copy of the pre-sale agreement, they will send an appraiser to value the property. Typically, the bank will only provide a loan equal to a pre-determined percentage of the appraised value of the house. Costs can range between 300 – 500 EUR depending on each bank.

6. Signature & Closing

At Sharman Estates, you never stop being our client. Our post-sale services ensure the easiest transition to your new home. We will ensure the correct taxes have been paid, that all utility contracts are transferred and set up in your name, along with the relevant direct debits. We also register your property with the land registry office in your name.