Are Spanish Legal Services Recommended?

Although Spain, the Netherlands, Germany, England, and many other countries are all part of the European Union, it is important to know that there are still many differences in their legal systems. As is the case in many areas, this also applies to buying real estate for emigration, investment, or winter stays. In this blog, we will provide one example of the difference between buying a house on the Spanish market compared to the Dutch market.

When buying a house in Spain, a reservation contract (contrato de reserva) is involved in the buying process. This contract is not part of the process in the Dutch market. In the Netherlands, there is a somewhat similar contract called the preliminary purchase agreement (voorlopig koopcontract), but there are some important key differences.

In contrast to the preliminary purchase agreement in the Netherlands, where a buyer has a natural right to a "cooling-off period" (bedenktijd) during which they can cancel the purchase without any consequences or penalties, buyers in Spain have to pay approximately €3,000 to €6,000 when signing the contrato de reserva. If you decide to cancel the contrato de reserva without any justified legal reason, you will lose the money you paid for the reservation contract.

Hopefully, this article makes it clear that being in the same union doesn't mean that all laws and processes are equal between the countries in the European Union. This is why Suplusnis offers its clients a wide range of services. We work with multiple partners who are each specialists in their field. Starting the house-buying process without the right guidance can lead to unnecessary problems or loss of money.

Contact us today for more information.