Contract of sale in Spain
A private contract of sale is a legally-binding document signed by both the buyer and the seller to ratify the sale of the home. It is important to review this document well before signing it, making sure that all of the specifications are correct, that it is well-written and truthful, and that it does not contain any type of prohibitive clause.
Before signing the contract of sale, it is advisable to verify that the property is free of fees, for which it is sufficient to request a simple note about the property from the Land Registry (Registro de la Propiedad). It is also advisable to check with the Office of Urban Planning (Oficina de Información Urbanística) to make sure that the property is not included in any urban plan that could compromise its habitability or distort its extension. Both procedures, if the buyer is not in Spain, can be carried out by third parties, such as an administrator or a real estate agent.
Once the contract of sale is concluded, the buyer must obtain a public deed for the property, which is a public document signed before a notary and is subsequently necessary to register the property in the Property Registry (Registro de la Propiedad). The associated costs for granting the public deed include the notary’s fees plus the registration fees charged by the Property Registry. For a property valued at 100,000 euros, the public deeds will cost around 500 euros.