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To complete the purchase you will need to visit the Notary
with your lawyer. An appointment is requested by your lawyer
on a specific date and time suitable for both seller and buyer
(and the bank if there is a mortgage). Present at the Notary
will be the buyers and their lawyer, the sellers, the agent,
possibly the seller’s lawyer, the bank manager if there is a
mortgage to repay or to grant, and of course the Notary. We
will also normally attend with you. The whole procedure can
last for two hours.
For
buyers who do not speak a good level of Spanish it is
preferable to have a Lawyer/Representative who speaks English
at the completion meeting.
The Notary will conduct the whole transaction in
Spanish but will point out the key points in English and will
ask you questions and seek your confirmation that you
understand various elements of your commitments in the
transaction.
Your
new Escritura will be drafted in advance of your visit. The
existing Escritura is checked by your lawyer and a copy sent
to the Notary Office by your lawyer who will provide the
required information on the new owner.
The
Escritura will be read out to both parties and when all are
happy then the sellers and the purchasers sign and the drafts
and cash are handed over and the keys to the property passed
to the purchasers. You will receive a copy of this document.
Your
lawyer will then arrange for the Notary bill to be drawn up
for the Transmission Tax etc (see below) and this is best
settled immediately
If
you are unable or decide not to be present for completion of
the purchase at the Notary office you will need to arrange a
Power of Attorney. The lawyer can do this for you and can
continue with the purchase while you are in the U.K. Otherwise
you will need to attend on the day of completion. If you do
not attend you will need to visit the Notary the next time you
visit Spain as the actual ownership of the property cannot be
finalised until you have actually signed in front of the
Notary.
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