Pre-Reservation
A formal reservation will be accepted from prospective purchasers provided that they have.

• A Spanish NIE, tax reference number
• If a mortgage is needed then An 'Agreement in Principle' from the lender is required.

Reservation
A formal reservation form and an initial reservation deposit will normally reserve your property for a period of 30 days to finalise the sales process. The balance of a 10% deposit will be required within 10 days of the initial reservation date.

Mortgage
If mortgage finance is required it could be arranged by either raising finance from a Spanish Bank on the property or by capital raising by means of a remortgage on your UK property or assets.

Valuation
Your mortgage lender will arrange for a market valuation to be carried out as part of the mortgage application process.

Completion
At the end of the 30 day sales process your mortgage will have been offered and your legal work completed. A formal legal completion takes place and the keys of the property come into your possession. You are now the legal owners and free to enjoy your new Spanish home

NIE
This is the Spanish tax identification number. It is a legal requirement of the Spanish authorities to have an NIE. This is essential to open a local bank account etc.

Spanish Bank account
You will need a Spanish Bank current account to enable you to pay regular utility bills, mortgage payments for your property.