On which account do I pay the seller (resale)?

We distinguish between three payments on resale.

1. With reservations, you do not pay the seller, but rather the estate agent or a counselor. A reservation fee is usually €3,000 - €11,000, depending on the purchase price.
2. Upon signing the purchase agreement, you usually pay 10% of the purchase price. In Spain, it is customary to transfer this amount directly to the owner's account. However, this is rarely advisable. If there is a theoretical risk that the transaction cannot go ahead, for example due to suspensive conditions, or if the seller is not resident in Spain, we try to work with a third-party account. You pay the 10% into a third-party account, so the seller does not have access to the funds.
3. Upon signing the notarial deed of sale, you pay the balance of the purchase price, less taxes and debts, by bank cheque. Specifically, you deposit the funds in our Spanish third-party account and we take care of the payments. Find more information here.