Property in Spain | Deposit on house purchase Spain
It is actually quite common practice in Spain to offer the owner or estate agent to remove it from the market while you arrange the legal side of things. If you are satisfied with the physical features of the property and you have gone through the first legal checks, then you would normally be expected to pay a deposit on the price of the house (usually 10%) to secure its sale to you.
The deposit system has advantages for the seller and the buyer. If at any stage you decide to pull out of the deal, you lose the deposit. On the other hand, if the owner decides to pull out of the deal, then he or she has to compensate you with double the 10% deposit. This tends to make it very unusual for sellers to pull out of a sale because they have received a better offer from other potential buyers.
| Other useful links | |
| Latest news on the property market in Spain Selection of news articles related to the real estate market here. | |
| Mortgages in Spain, a brief introduction to the Spanish mortgage market, how it works and interest rates in Spain | |
| Spanish banks, before applying for a mortgage, find out more about Spain's most popular banks and Spanish savings banks. | |
| Property taxes in Spain, description of taxes involved in purchasing property and yearly property taxes in Spain. | |
| Useful Spanish vocab for buying a house - you should learn at least the basic terms. Check out our pronunciation guide too. | |
| Renting property in Spain - if you want to buy to rent, then read this section and our free notice board of property to rent in Spain. | |
| Spanish lawyers - information on lawyers fees in Spain for property transactions | |
| Houses for sale in Spain - take a look at the kind of houses available. Or check out our free Spain property for sale board. | |
