The process of buying and selling real estate in Spain typically involves two essential elements: the property being sold and the price to be paid for it.
Once an agreement is reached between the seller and buyer, it is necessary to verify if the seller has the capacity to sell, if they are the rightful owner of the property, or if they require authorization from a third party.
Next, the property being sold needs to be evaluated to ensure it meets the indicated characteristics in terms of urban planning, habitability, energy efficiency, outstanding community charges or unpaid taxes, as well as ensuring there are no encumbrances such as mortgages or liens.
On the part of the buyer, it is important to determine how the price will be paid and where the funds for the purchase will come from, whether it is for personal use, within the context of a marital regime, or on behalf of a company.
The real estate transaction must be formalized through a document that proves its execution, typically a public deed that must be registered in the Property Registry and in the Land Registry (Catastro). It should also be communicated to the municipality in order to pay the municipal capital gains tax (plusvalía) and future property tax (IBI) payments.
By following all these steps, the real estate buying process in Spain can be highly secure.