The real estate reservation agreement in Spain (2022)

The real estate reservation agreement in Spain (2022)

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00:00 - Welcome

00:19 - Reservation agreement

If you will find the real estate of your dream during the Guided Tour in Spain and you will want to become its rightful owner, - it’s necessary for you to sign a special contract with the seller (also known as a reservation agreement) and pay a deposit. After that, your chosen property will be removed from the sale (and the review) for other buyers.

00:44 - So, what is actually “a reservation agreement”?

A reservation agreement is a contract between the seller and the buyer of the real estate, which consists of two PRINTED copies in two languages - Spanish and English. Usually the contract is signed for a period from 1 to 3 months. And with the mutual agreement of the parties, it can be signed for a longer period of time - up to six months.

01:05 - What is stated in the reservation agreement:

• the reservation agreement contains all details about the sellers and buyers: full name, address and identity card (ID card, passport, NIE, Residence card and etс.);
Also, the contract NECESSARILY contains the information about a certain real estate object:
• *the ADDRESS of this property;
• *the registration data (or inventory number);
• *the DESCRIPTION of the property, which specifies the type, size and other important characteristics.

It should be pointed out that we check all the real estate for arrears in advance, and offer you only legally "clean" objects.

01:46 - The agreement also indicates:
• The final price of the property.
• AN AMOUNT OF THE DEPOSIT.
On average, it is about from 3 up to 10% of the total value of the property (Typically, it is about 3 thousand euros.)

02:00 - Further, in the reserve agreement, it is fixed:
* FORM OF the payment - because the deposit can be paid in cash or by cashless payment.
* EXPENSES concerning purchase and sale. This item fixes the costs and taxes which each of the parties must pay, according to the Spanish laws.
* AND DUTIES OF THE PARTIES. An essential item, which is provided for the responsibility of each party for non-compliance with the conditions of the contract.

For example, if the BUYER breaks the deal, the deposit, the buyer paid, is NOT returned. If the SELLER refuses the sale and disrupts the deal after the signing of the "reservation agreement ", he must return to the buyer the deposit in the DOUBLE amount.

02:45 - Sign the reservation contract

You sign the reservation contract with the seller in the presence of the agency manager with whom you buy the property. If the seller cannot be present for various reasons at the day of signing this document, the agreement is signed with the company, - which represents this object, - itself. After that the agency transfers money to the account of the owner of the real estate.

03:05 - Sign the reservation contract remotely.

You can also sign the reservation contract remotely. But making your choice blindly, you risk to be unhappy with the purchase. Therefore, we necessarily invite you to a Guided Tour in Spain.

Remote reservation is convenient in the except case when you decided to buy the real estate, having already arrived home from Spain. To do this, you should send us your data, and we prepare an agreement, where the amount of the deposit, the cost of the property, the calculation procedure and the duties of the parties are indicated.

03:35 - A certificate of ownership

A title deed (a certificate of ownership) is also attached to the document. We send you the contract, then you print it, sign it, scan and send it us by e-mail. After that you pay a deposit + bank commission and send us a copy of the payment document. From now on, your future real estate in Spain is removed from sale from all sources and awaits your arrival.

04:01 - Sign a contract of sale and pay the remaining amount

Having signed the reservation agreement, you are already halfway to your dream. It remains only to sign a contract of sale at a notary and pay the remaining amount.
More detailed consultation on "buying the real estate in Spain" you can always get by contacting the specialists of the WTG Spain company by calling the hotline or ordering a callback. We are always happy to answer all your questions.

We sincerely hope that buying property in Spain will be a pleasant event in your life.
WTG Spain - Your home in Spain is waiting for you.

Видео The real estate reservation agreement in Spain (2022) канала Property in Spain. WTG Spain