Buyer’s Guide: Payment Process and Legal Requirements

At Love Viviendas, we prioritize transparency and security in every transaction. To ensure a smooth acquisition of your property in the Serranía de Ronda, we follow a structured payment and legal protocol designed to protect your investment.

1. Initial Reservation

To take the property off the market and secure your right to purchase, an initial reservation deposit of €6,000 is required. This payment ensures the property is blocked and all further viewings or negotiations with other parties are suspended.

2. Due Diligence Period

Following the reservation, a two-week period is granted for your lawyer to perform all necessary legal, registry, and urbanistic checks (Due Diligence). This timeframe allows your legal representative to confirm that the property is free of debts and fully compliant with local regulations before you commit to the full deposit.

3. Completion of the 10% Deposit

Once your lawyer has successfully completed the due diligence and confirmed that everything is in order at the end of the two weeks, the remaining balance to reach 10% of the total purchase price must be transferred. This payment formalizes the "Contrato de Arras" (Deposit Contract), legally binding both parties to the sale.

4. Essential Requirement: The NIE Number

It is important to note that if you are not a Spanish citizen, you must obtain a NIE number (Número de Identidad de Extranjero) to finalize the purchase. This is your tax identification number in Spain and is mandatory for signing the public deed, paying taxes, and setting up utility contracts. We recommend starting this application as early as possible, and we can assist you in finding the right legal guidance to obtain it.

5. Final Payment and Completion

The remaining 90% of the purchase price is paid on the day of the signing of the Public Deed before a Notary. This is the final step where the keys are handed over, and it remains the only outstanding payment until the official completion date.

Why choose this process?

Our system allows you to secure your dream home with a minimal initial outlay (€6,000) while giving your legal team the necessary time to verify the property's status, providing total peace of mind before the 10% deposit is paid.

Contact us today for more information on obtaining your NIE or starting your property search