Promotion Two
Once you have made the decision to buy a home in Spain there is some homework to do before you rush to book your flights to start looking at properties.
1.  Learn about the buying process
The buying process in Spain is usually very straightforward but it will be different to your own country. If you have questions talk to a Spanish qualified lawyer who will be able to provide you with any further information required. At no cost we can arrange a first meeting with a lawyer for you to have a private discussion.
2.  Decide on the area where you would like to buy
It is not practical to try and cover miles of coastline in one trip – the Costa del Sol is 160km long and takes about 2 hours to drive from one end to the other. The more focused your search, the better the coverage that you will be able to achieve and better understand the market prices in that area.
3. Decide on your lifestyle requirements
To find suitable properties to view you must first decide upon your key lifestyle requirements to then determine what type of property and which location will best match the lifestyle that you are seeking in Spain.
4.  Set your budget
Be realistic about what you can buy for your budget so you do not waste time looking for the impossible. Remember to allow at least 10% on the price of the property for the buying costs plus another 1-2% if you are arranging a mortgage in Spain.

5.  Find out about mortgage options
If you need a mortgage to fund your purchase, find out in advance how much a Spanish bank would be likely to lend. Alternatively you can consider mortgage options in your own country.
Prepare the paperwork required by a bank for applying for a mortgage to speed up the application process.
6.  Have your finances ready
The reservation deposit is usually between 3,000 and 6,000 euros. If you plan to pay this by credit card advise your bank that you are travelling abroad and intend to make a large payment whilst overseas.
Once your lawyer has completed the preliminary checks, a private contract between you and the seller will be drawn up and at the point of signing a payment will need to be paid, usually 10% of the purchase price.
Once the private contract has been agreed the completion date will be fixed and before completion the remaining funds to complete the purchase (less any mortgage granted) plus the funds to cover the associated costs of the purchase will need to be transferred to your lawyer.
Usually the faster you can complete the purchase, the more attractive your offer will be to the seller.
If you are planning to exchange your home currency into euros contact your bank and a foreign currency exchange company to ensure that you receive the best available rates of exchange.

6.  Choose a lawyer
The key to a successful purchase is to employ a Spanish qualified lawyer who speaks your language so that you can clearly understand each step of the process.
Find a lawyer to handle your purchase before you start viewing so that you are ready to start the buying process as soon as you find the property that you want to purchase.