Buying a home is an exciting process, especially if you are moving to the Spanish coast! But it can also involve some uncertainties that result in moments when you feel somewhat lost. That is why you should get all the professional advice you can get. In this regard, the role of the notary is one hundred percent advisable during this process, especially before signing any document or handing over any amount of money. The notary will make sure that you understand what you are signing and that the entire process is done legally. Having a notary when buying a home in Spain is not a requirement, only when signing a mortgage on the house. However, it is highly recommended. Having peace of mind is priceless, don’t you think?

We will tell you how the notary can help you. After all, the good life comes also with formalities.

Which steps can the notary help me with?

When buying a home, the notary can help you right from the very first steps of the process. As a result of the latest mortgage law, the notary’s advice is even more important than before. In fact, the General Council of Notaries has published a guide entitled The Big Step: Buying a Home. How Can a Notary Help You? (Original title: El gran paso: comprar una vivienda. ¿Cómo le pueden ayudar los notarios?), which explains step by step what the role of the notary entails during the purchase process. Especially if a mortgage is involved.

Earnest money contract

Before drawing up the public deed of the property, sometimes a contract known as an ‘earnest money contract’ is drawn up, which acts as a down payment and a commitment of both buyer and seller. Before signing it, it is advisable that you review it with a notary, as it is a binding document and you will be obliged to comply with it. If you fail to comply with it, you may lose the money you have given as a down payment for the property.

This contract may also specify the notary that the buying party will choose to carry out the purchase and sale procedures and the deed.

Before signing the mortgage

Once you receive the mortgage offer from the banking institution you have chosen, we recommend that your trusted notary reviews it so he or she can answer any questions you may have. Counseling must be impartial and free of charge.

The notary will verify that the banking institution has submitted all the required documentation and will draw up a notarial deed to record the facts and the questions and answers that may arise.

Sales contract

The public deed is not required, but it provides legal certainty to both parties, who express their willingness to comply with what they are signing. Thus, the notary verifies that the document is correct, attests to the operation and the conditions and guarantees its legality.

The notary will be in charge of collecting the necessary documentation for the sale and purchase, such as the ID cards of the parties, the purchase and sale price and form of payment, the Land Registry Report relating to the property, water and electricity bills, etc. Once the notary has acquired all the information, he or she will take charge of drawing up the deed of sale and send it to the buyer and seller for review.

Once the notary authorises the deed of sale and the mortgage loan, there is no turning back, so don’t let any doubts linger! On the day of signing, you will meet with the sellers and the bank representatives before the notary. After signing, the notary will send an electronic copy of the deeds to the Land Registry.

How much does a notary cost and who pays for it?

You might think that notary fees are very expensive, but the law establishes their fees and all notaries must charge the same fee for the same services (with a maximum discount of 10%).

The price of the notarial procedures depends on the value of the property. For example, if the house is valued at € 100,000, you will have to pay € 850. But don’t worry, because notary fees are divided between buyer and seller. The seller will be responsible for the costs of granting the public deed, and the buyer for the cost of the copies made.

If you want to find out about other procedures when buying a home in Spain, visit this section of our blog. If you want to buy your home through Sonneil, we will help you with these procedures and assist you in the notary process.