Has the idea of ??buying a property in Spain crossed your mind? Do you already have a house in Spain, but want a second summer residence on the seafront?

For these and other concerns you may have, we want you to understand the process of buying and selling a home in Spain, the procedures required and the approximate time they usually take.

We share with you the steps that you must follow before and during the purchase of a property, the duration of the process itself, and other tips that we are sure will be very useful in your search for the perfect property.

Understand the purchasing process

Buying a property in Spain, whether you are Spanish or foreign, can be very rewarding, but at the same time it can become a discouraging experience if it is not carried out with knowledge and rigor.

How long does the purchasing process take?

Everything will depend on the type of buyer we have in front of us. If the buyer knows the sector or it is not the first home they are buying, the search and eventual purchase process will be faster, and may last up to a little less than 1 month. Even so, the average to find an apartment for sale is 3 to 5 months.

If you want to shorten this period, it is important to know your financial capacity, your real estate needs and, above all, look for homes on a quality portal with truthful information.

Steps required to buy a home

1. Property proceedings. It basically consists of reviewing the property. Its registration, owner(s), details such as location or size are verified, and it is confirmed that it is a debt-free property.
2. Reservation contract and advance payment. Through this contract, both buyer and seller express their explicit intention for the sale to take place. In Spain this contract is called the Earnest Money Contract. Usually, it is closed with the deposit of 10% of the value of the property by the buyer, but it is an amount that can be agreed between the parties, since there is no legal obligation to deposit a specific amount. This step is binding on the purchase, so you must be clear that you can find financing. If the buyer is the one who cancels the agreement, he will lose the amount delivered, while if the seller does so, he will have to return double the amount received.
3. Mortgage (loan). We are facing a long process, so the sooner it starts, the better. The most natural thing is to go to the bank, or a similar entity, to borrow the money. In the Spanish case, you must know the different types of mortgage that exist before making a decision, in which the interest rate varies depending on the duration of the loan. In order for the bank to grant a mortgage, you will first have to carry out an appraisal of the apartment to buy.
4. Mortgage evaluation. In the event that a loan (mortgage) is granted, we will face the loan evaluation phase. The bank will receive the prior agreement, send an appraiser to evaluate the property and, once the estimate has been established, the financial institution will sign the mortgage favorably.
5. Closing. This is the moment when the transfer of ownership is certified before a notary. Both parties provide the requested documents (identification, title of property, payment, etc.), and finally the contract is signed and authorized by the notary.
6. Record. Once verification has been made that the taxes have been paid, the profits are transferred. After registration in the Property Registry, the buyer becomes definitive owner of the property.

Is it easier to sell my home through a real estate agency?

More and more people are choosing a real estate agency, both to sell and buy a house. When selling a home with a real estate agency, the steps will be very similar to those from individual to individual, but the difference is that a specialized agent will be in charge of most of the procedures.

In general, you just have to decide to sell your property and leave everything in the hands of reliable and highly trained professionals.

Advantages of selling through a real estate agency

The real estate agency will be in charge of qualifying potential buyers; We investigate to find out if the interested person has the financial capacity to make the purchase. Knowing how to choose is a much more complex task than it might seem at first, and of course, intuition is not enough, much less when it comes to transferring by purchase (onerous or lucrative contract subject to extensive legislation) something as important as It is real estate.

The real estate agency will also be in charge of managing requests for information and carrying out visits. And when there are purchase offers, they will inform you, so you can choose the one that best suits you.

Still not decided? In Addurno you will find the home of your dreams

The properties published on addurno.com are located along the Mediterranean Coast, with a strong presence of luxury villas and apartments on the seafront.

The properties have exceptional locations on the best beaches of the Costa Dorada, the Costa Brava or the Costa del Sol - to name just a few. They are comfortable, well lit by natural light and - although they are usually close to shops and services - in them you will find the tranquility you are looking for to live or spend a holiday season.

We are the only portal specialized exclusively in beachfront properties and we connect you with the home of your dreams at competitive prices and adaptable to your budget. Because satisfying your needs and those of your family is our premise.