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What happens at completion?

When you are buying a resale property in Spain, completion normally takes place within 6 weeks of signing contracts. This gives buyers enough time to arrange a mortgage and organise finances, furniture etc. When buying off-plan property in Spain, there may sometimes be interim payments due prior to completion, or simply the remainder of the funds payable at completion (this will depend upon the payment terms in the contract).

Before arranging completion of your Spanish property, your lawyer will check that the description and measurements of the property match those provided and promised by the vendor or developer, and that a licence of first occupancy has been granted (in the case of off-plan properties). Once the lawyer is happy with the property, he/she will ask you for the funds due at that point. Many people will use a Spanish mortgage at this point (further information is available in our Spanish Mortgage section).

Once the funds have been received by the lawyer, you will sign the title deeds, either in person, or by power of attorney with your lawyer in Spain, and the property is then legally yours.
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