Buying in Torre del Mar

Do you have a query about moving to Andalucia and buying property in Andalucia. Find out by posting questions and reading about other peoples experiences.
Andrey
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Buying in Torre del Mar

Postby Andrey » Wed Jan 22, 2020 1:26 pm

Hi,

I am about to purchase a property, deal to be signed in a notary in Torre del Mar. I have a Spanish bank account where the moneys for the downpayment will be deposited. How does the actual payment at the notary happen? Do I simply send a transfer to the account details communicated by the seller's side? But then it is not instantaneous and they will only acknowledge the receipt the next day or so. Or is there a sort of certified check I can request at my bank beforehand so that the fact of payment is final on the day of signature?

Regards

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costakid
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Re: Buying in Torre del Mar

Postby costakid » Wed Jan 22, 2020 1:36 pm

You can get a bank draft which is usually acceptable. A very small fee payable. It not like you can bounce the check and run away with the property so a normal Spanish check may also be acceptable. We paid by draft when we bought but that was some years ago.

maureenscot
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Re: Buying in Torre del Mar

Postby maureenscot » Wed Jan 22, 2020 7:37 pm

I had an apt at the bank before my notary apt. The estate agent organised it and came with me to translate. We then took the bank drafts for all the different fees round to the notary office at signing half an hour later. Went smoothly

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Wicksey
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Re: Buying in Torre del Mar

Postby Wicksey » Thu Jan 23, 2020 12:02 pm

The money was sent to our gestoria and she then produced various cheques when we were at the notary (to the seller's bank where they had an outstanding mortgage, a balance to the seller, and notary fees etc.) I would never transfer money directly to the seller.

In our past transactions the banker's drafts have always been handed over when at the notarys whilst doing the final signing for completion, so I would obtain a banker's draft. Double check the full amount needed as you may have to pay purchase tax at the time of sale, plus the Notary's fees .... I can't remember now exactly what we've paid as our gestoria gave us a final figure to send to her.


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