The purchase process  

1. Financing
Before you actively start looking for your new home inSpain, you should review how the purchase should be financed. That way youcan act quickly when the right property appears. In general, it ispossible to mortgage the Spanish property with between 50–70% of the marketvalue, the mortgage will then be in euros. Another alternative is to takean extra mortgage at your current home and then the mortgage will be in yourcountry’s currency. It is of course possible to do both options incombination. We help you find a good solution. 

2. Legal representation
There is a difference between buying a property in e.g.Scandinavia compared to Spain. In Spain, the buyer is represented by alegal representative. The legal representative will help you throughoutthe transaction and safeguard only your interests. We at Spaindinavia workwith several legal representatives and of course we help you with contact to a suitablelegal representative.   

3. NIE-number - taxidentification number
To be able to own a home in Spain, you need a Spanishtax identification number, a so-called NIE number. Once you have receivedthis, you can register as an owner in the council’s record. Your legalrepresentative helps to produce and register NIE numbers for everyone who owns apart of the property. 

4. Bidding / negotiating
Once you have found a home, we will help you handlethe bidding. In most cases, the bid is lower than the startingprice. In exceptional cases, upward bidding may take place. It iscommon, however, that you are the sole bidder and can immediately start a negotiationwith the vendor. 

5. Buyer's duty ofinvestigation
As a buyer, you are responsible for examining the homebefore you sign a purchase contract. You buy the home in its existingcondition and therefore it is often, with a few exceptions, very difficult tocomplain about something after the contract has been signed. Your legalrepresentative will help you with the investigation of the legal condition ofthe home. 

6. Constract - "Arras"or "Option de Compras"
When you and the vendor agree on all the conditionsincluded in the sale, an "arras" is written or an "Option deCompras" - a purchase contract. Some terms are mandatory and set bylaw, others are free terms between the parties. Some conditions may be ofsuch a nature that if they are not met, the deal falls, for example conditionson mortgages. In connection with this contract, a down payment is alsopaid. This is normally 10-15% of the purchase price. If you have alegal representative, he or she will be involved in this process. 

7. Completion day
On the day of completion, buyers (or their legalrepresentatives) and vendors meet with their respective representatives at theNotary. This is where the "Escritura Pública de Compraventa" -the letter of purchase is drawn up. On this occasion, the buyer (or itslegal representative) and the vendor's identities as well as the legalcondition of the home are ensured. The eventual mortgage is also handledfor registration by a Notary. If you have a legal representative, he or shewill be responsible for this process.