Buying Property in Tenerife
The first step and our primary objective is to help you find the Property of your dreams in Tenerife. however once achieved our service does not stop there, the purchasing process may seem a little confusing at first but we are able to guide you through all the legal requirements and bureaucracy of buying a property in Tenerife, so you can sit back and enjoy your holiday.
Once a property has been chosen and a price agreed, a contract of sale is normally drawn up which will fit a completion date, and a small deposit payment is normally made. This contract sets out the purchase schedule so you know exactly when your purchase will be finalised. As a foreigner with interests in Tenerife (or anywhere in Spain,) you will be required to have an NIE Number (this is similar to your social security number.) The first step is obtaining your NIE from the local police station. This is used to draft the final contract and will appear on the deeds of your sale.
Completion will take place in the Notary’s Office, you will sign the deeds of sale together with the vendor, who should produce receipts indicating there are no bills outstanding on the property and the Notary will have requested a “Nota Simple” (Land Registry Search) to ensure there are no debts or embargos on the land or property. Once signing of the deeds has taken place the Notary’s Office will produce your new “escritura” (title deeds) which confirm your ownership of the property.
As the Notary is impartial and is obliged to bring any potential problems to your attention at the point of completion, a private solicitor is not normally required to handle conveyancing in Spain, however if you wish to employ a solicitor to handle the purchase of your property we will be delighted to co-operate fully with them.