1.- RESERVATION AGREEMENT
Normally the purchase is initiated with a reservation agreement,

which takes the property off the market (providing the Reservation Agreement is properly signed). The deposit you pay at this stage could be anything between 10 to 15 % of the purchase price. At this moment, ABACO LEGAL, have checked the registration of the property which will show if there are any charges against it, and the correct ownership of the vendor at the Register office.

2.- PRIVATE CONTRACT OF PURCHASE AND SALE
Within a week or two a private agreement is signed between the purchaser and vendor

and at this stage you pay normally 10% directly to the vendor. The purchaser´s lawyers should determine licence of building, all outstanding debts and rates in order to arrange the payment of these according to the agreement, these could be municipal rates (I.B.I.), community fees, electricity and water bills.

3.- TITLE DEED
Finally the completion takes place in front of a Public Notary,

who issues the Title Deed "escritura". The Title Deed should then be registered by the lawyer in the corresponding Land Registry.