The Process of Buying a Business in Spain

Once you have found the right business, you pay the deposit to secure the purchase. This deposit is placed in our client account. This is not passed on to the seller at this point in case there is a problem with the sale and we have to return it to you.

1. We prepare an agreement to purchase which will state the completion date. This can be as long or as short you need but the maximum is normally six weeks. This means that you have this period in which to pay the balance.

3. During the term of this contract, the seller cannot increase the price, nor offer the business to anyone else.

4. You have time to check the licence situation of the business and that there are no outstanding debts, we will advise you on the best way to do this and can even introduce you to an independent legal advisor should you feel that you need one.

5. On the completion date, all funds are transferred to the seller, you get the keys and your new lease is signed by the landlord.

Important Note:

If the seller pulls out of the sale for any reason, or it transpires that the business is not 100% correct, your deposit can be returned to you or used against another purchase. If you pull out of the sale because you have changed your mind or cannot raise the balance of the funds,you will normally forfeit your deposit. If it transpires that there are outstanding debts on the business, these will be paid by the seller.

For this reason we strongly recommend not to make a rushed decision. Take the options contract with you and think carefully in the comfort of your home,  if you really want to go ahead with your purchase.

You will probably meet other estate agents during your stay in Spain. Some of them will try to pressure you into a quick sale and might even ask for a cash deposit on the day.

There is no need for that! Do not pay any cash deposits, instead do a bank transfer which gives you a rock solid proof of payment.  Transfers from the UK to Spain usually take 3 three days to complete. To secure the property of your choice simply fax us proof of payment.