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Purchasing Procedure for properties in Spain, or Morocco properties

Purchasing Procedure for properties in Spain, or Morocco properties

Purchasing Procedure

The best properties sell quickest, so if you are seriously interested and wish to avoid disappointment, we advise an early decision!!!

Simply ring PRESTIGE PROPERTIES OVERSEAS and advise us of your chosen property. A holding deposit of 3,000 € (approx £2,300), is required to take the property off the market and fix the price. This can be paid by bank transfer, credit card or cheque.

The holding deposit is fully refundable for a period of 30 days, unless by prior agreement.  This will give you sufficient time to visit the site to view.  If you cannot visit during this period you will be expected to make your holding deposit definite, i.e. non-refundable.  Alternatively, if you decide not to proceed your deposit will be refunded in full.

Please note that the reservation amount and structure may vary for some developments, please speak to an advisor for up to date offers.

Once you have paid your initial holding deposit and are absolutely satisfied with your chosen property, the Lawyer will forward to you a contract setting out the conditions of purchase. Many of the development’s example contracts can be viewed on-line prior to viewing the sites.  The balance of your deposit plus agency fees, usually 3,000 € / approx £2,300 (except for hotel suites) is then paid to the dedicated Lawyer.  Please note that contracts are only issued when initial deposits are made on a definite basis.

There is nothing further to pay until completion. At this time you will sign the mortgage agreement with the lending bank (if applicable) and pay the closing costs (approx 12% of the total price in Spain and approx 5% in France and Morocco).

At this point you will receive the keys and the Spain, France or Morocco property is yours. Our local staff will be on hand to assist you throughout the transaction - alternatively, if you do not wish to visit Spain France or Morocco to complete, a Power of Attorney can be given to the Lawyer who will arrange the completion on your behalf.

We will offer all clients the services of our panel of bilingual lawyers in Spain and Morocco who will assist with the completion of the purchase.  Services available will include translation of the final purchase contract and accepting Power of Attorney if required.  The lawyers are specialists in conveyancing of overseas property.  Please note that there is no charge for legal services as provided by recommended Lawyers. All Legal fees are included in the Agency fees.

PRESTIGE PROPERTIES OVERSEAS work closely with Excel Currencies who will assist in arranging all currency exchange and transfers on your behalf, if required. For an instant quote please contact Ashley Ingle on (0044) 01322 221121 

Please phone Prestige Properties Overseas on 0800 085 1601 for further details.

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