Completion
Definition
Completion in Spanish property buying refers to the final stage of the purchase process when the title deed (escritura publica) is signed at the Spanish notary. On completion day the buyer pays the outstanding balance of the purchase price, pays applicable taxes (VAT on new builds), signs the title deed in the presence of the notary, and receives the keys to the property. The title deed is then registered at the Land Registry.
Why It Matters
Completion is when legal ownership transfers to the buyer. Understanding what happens on completion day, what payments are due and what documents are signed prepares buyers for a smooth handover.
Where It Appears in the Buying Process
Completion is the final stage of the buying process. For off-plan purchases it follows the construction phase and typically happens 18 to 36 months after the initial reservation.
Related Questions
How Does Buying Off-Plan Work in Spain?
Buying off-plan in Spain follows a five-step process: reservation, private purchase contract, staged payments during construction, mortgage approval, and completion at the notary.
How Long Does an Off-Plan Purchase Take?
An off-plan purchase in Costa del Sol typically takes 18 to 36 months from reservation to completion, depending on the construction stage at the time of reservation.
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