When purchasing a Property in Spain the normal process is to place a £3,000 (around £2,000) deposit then a stage payment process for further balances. If you purchase a re-sale property a 10% deposit is usually required within 7-10 days, with the balance payable upon completion.
Initial Deposit When you have found your ideal property in Spain a non-refundable holding deposit of £2,000 in the form of a personal cheque will be required. This will guarantee removal of the property from the market. This deposit forms part of a legal contract, which holds the price of the property as agreed at the time of paying the deposit and guarantees you will not be affected by any future price increases. For a free download copy of the LEGAL & BUYERS guide for Spain click here. You will need adobe reader to view this information resource if you require the reader software click here or click onto the ADOBE gif below.