Deal agreed for property in Spain - deposits and funds transfer?

Duncannnn

Hi guys,
               After a lifetime of work, my father is retiring to a small apartment in Spain.

the sale was agreed this morning and he has been asked to make a 6k deposit and sign some papers tomorrow.

we have never purchased a property abroad and are currently searching for a solicitor not repeated to the estate agent.

does anyone have any advice on how to submit deposits to another country, how to avoid fees etc….

I’ve a Revolut account but concerned about protection etc

the property was advertised on a place in the sun website and estate agents said we could submit through them…,,but unsure the best way to go about it.

Thanks in advance 

propertyrental

I would not rush into this. Do some research and due diligence, both on the buying process in Spain (which I don't know) and on residency there (we're not in the EU now - if he's retiring there is he allowed to live there full-time...?).

I'd certainly not send any money till you fully understand who is receiving it, what it is for, and how the overall process works.

Googling "buying property in spain" or similar will throw up many websites with information.

theartfullodger

Suggest trying a Spanish forum, especially one aimed at "ex-pats" .

Sign papers - where ?? (eg UK, Spain, electronically etc etc etc ..)

FlyMeSomewhere79

I would do it through the agents, you need it to be above board and protected so that someone doesn't just run off with your father's money etc. I've not purchased in Spain and would like to in the future and I would be nervous 6k outright before a solicitor is in place to oversee it legally and document that it's been paid. 

Also have you looked into the Brexit 90 day rule and ensured your father has the money that they want to allow him to apply to stay permanently? I only ask because there's a lot of people out there that still don't realise that Spain requires a significant amount of guaranteed passive income per year now and that includes pensions.

Duncannnn

propertyrental said:

I would not rush into this. Do some research and due diligence, both on the buying process in Spain (which I don't know) and on residency there (we're not in the EU now!).

I'd certainly not send any money till you fully understand who is receiving it, what it is for, and how the overall process works.

Googling "buying property in spain" or similar will throw up many websites with information.

We are from NI and therefore have Irish passports.

I’ve been researching it and I’m getting conflicting info.

FlyMeSomewhere79

Is it the same passport as someone in the republic of Ireland would have? If so hopefully that might negate any Brexit issues - it's knowing where to even ask about this sort of thing isn't it! My Great Grandfather was irish and I'm gutted I can't get an Irish passport especially as I'm pretty proud to be a chunk Irish 😊 my partner and I aim for retirement in Spain eventually but we are hoping it gets less complicated by then!

Duncannnn

FlyMeSomewhere79 said:

Is it the same passport as someone in the republic of Ireland would have? If so hopefully that might negate any Brexit issues - it's knowing where to even ask about this sort of thing isn't it! My Great Grandfather was irish and I'm gutted I can't get an Irish passport especially as I'm pretty proud to be a chunk Irish 😊 my partner and I aim for retirement in Spain eventually but we are hoping it gets less complicated by then!

Prior to the good Friday agreement if you were born in NI you were deemed british, the good Friday agreement in 1998 enabled dual citizenship so I’ve an Irish passport.

But at the end of the day we are still under British rule wither we like it or not and brexit has happened, despite the majority of people in NI
voting remain.

We will see a united ireland in my lifetime, and sadly many lives inevitably be lost in that transition.

macman

FlyMeSomewhere79 said:

Is it the same passport as someone in the republic of Ireland would have? If so hopefully that might negate any Brexit issues - it's knowing where to even ask about this sort of thing isn't it! My Great Grandfather was irish and I'm gutted I can't get an Irish passport especially as I'm pretty proud to be a chunk Irish 😊 my partner and I aim for retirement in Spain eventually but we are hoping it gets less complicated by then!

Citizens of N. Ireland are considered by the ROI to be citizens of Eire too. 

brianposter

As I remember, when you buy a property in Spain there is a provincial ? tax that has to be paid immediately by the buyer. Make sure you have arrangements to pay this tax.

galisante

Hi there,

Congratulations on your father’s upcoming move! It’s quite common to pay a deposit to secure a property, but it’s wise to proceed carefully. Ideally, use an independent lawyer (not tied to the estate agent) who can guide you through the paperwork and handle the deposit safely. If you’re worried about fees or exchange rates, you could look into specialized currency transfer services or multi-currency accounts (like Revolut), but confirm what protections they offer for larger sums.

Best of luck with everything! If you have more questions, feel free to ask.

Caz3121

necropost -paperwork was being done over 9 months ago!