Completion at the Notary
In order to inscribe the property into the land registry and legally transfer ownership of the asset, you must sign the title deeds – called escritura pública in Spanish – before a notary. It is only after this point that you can complete the buying process and pick up the keys to your dream home abroad.
In a recent change to legislation (June 2019), you (or your power of attorney) will have to go to the notary twice; once at least one day before the title deed signing to be explained the implications of legal completion, and then again to sign on the dotted line.
As you might predict, this final phase also has associated costs, including fees for the notary, administration, legal representation, land registry inscription and a transfer tax. But once this bureaucracy and payment of the corresponding fees is out of the way, you can pick up the keys to your dream property and start enjoying your Spanish home.
You will leave the notary with a document that serves as a temporary copy of the title deeds – the official lodging of said document can take up to a month – so you can verify that you’re the new home owner and you can go ahead set up your utility bills like water and electricity, for instance.