7 Tips On Buying New Property In Spain

While it is possible to buy a property in some overseas jurisdictions, including Spain, without having to appoint a lawyer, it would be very unwise to do so.

Registered Lawyer

One should never buy off-plan in a land that is not registered under a developer’s name.There are far too many associated risks to take a gamble with your hard-earned money.

Registered Land

The basic recommendation is not to sign a reservation contract, or a Private Purchase Contract (PPC), unless the property has been issued with a Building Licence.

Building Licence

Bank Guarantees are a legal tool devised to secure the interim deposits of prospective off-plan purchasers should their properties not be delivered on time or their developers file for administration

Bank Guarantees

A town hall issues a Licence of First Occupancy to verify that a freshly built property meets all planning and building standards and may be utilized as a house.

Licence Of First Occupation

A NIE number is a Fiscal Identification Number for foreigners and is required, among other things, to buy property in Spain.

NIE Number

Snagging is an informal expression used within the construction industry which is used to describe the process of construction defect identification and resolution on buying new build properties.

Snagging List

Swipe Up To See More Stories