Purchase property in Valencia City: VLC Properties Buying process

Purchase Completion

On the day of completion all parties or party representatives (including a representative from the mortgage broker or bank to sign the mortgage off simultaneously with the Escritura de Propiedad when the seller has had a mortgage previously) meet in the presence of a Spanish notary. If the buyer also intends to take out a loan or mortgage then the bank in question will submit an Escritura de Préstamo Hipotecario to be signed together with the Escritura de Propiedad.
The notary signs the Title Deed (Escritura Pública de Compraventa) and certifies that the contract is official. The change of ownership is recorded in the official registry and completes the process, leaving you safe in the knowledge that your property purchase is official and problem free. It is at this stage that any fees and taxes are paid. The notary then sends the Property Deed (Escritura de Propiedad) and, if applicable, Mortgage Deed (Escritura de Préstamo Hipotecario) to the Property Registry (Registro de la Propiedad). It becomes a Public Deed (Escritura Pública) guaranteeing you final ownership. In Spain notaries have no duty of care to either party and are only concerned with verifying that the paperwork is valid and any government regulations that may apply have been satisfied.
Last of all you will need to set up new accounts or transfer contracts you already have with any utility companies so that you have water, gas, electricity, and a telephone line.