Real estate transactions in Spain are often handled through a notarised power of attorney. After all, this is a convenient way of proceeding if you do not wish to appear before the Spanish notary yourself.
What is a notarised power of attorney?
With a notarised power of attorney, you empower your representative - for example Confianz - to take certain actions on your behalf, such as formally completing a purchase, applying for a NIE number, settling the estate etc.
When is a notarised power of attorney advisable?
In practice, there are two reasons why clients choose to work with a notarised power of attorney.
The first reason is about scheduling the deed date. A Spanish notary usually only confirms the deed date +/- 10 days before the execution of the deed. Often, it is then not obvious to, for example, still book plane tickets, change your schedule or request leave of absence. A notarised power of attorney therefore provides more flexibility.
Tip: if you are using a representative, ask your estate agent to forward a video about the condition of the property. That way you can still check if there are any defects.
The second reason is that you do not have to travel to Spain for every formality. Think about a Spanish bank account, requesting bank guarantees and official documents, applying for a NIE number, transferring utilities, etc. So you no longer need to take any steps yourself.
How do I draw up a notarised power of attorney?
A notarised power of attorney is a legal document, often drafted in Spanish. Confianz can prepare the specific text for you.
You have three options to have a notarised power of attorney executed. The first and simplest option is to go before a Spanish notary. You can do this, for example, while you are still in Spain after you have found a property and signed the reservation contract with the estate agent. The fees for a Spanish notary are around 100 to 150 euros.
The second option is to have the deed executed in Spanish consulate in Brussels. After all, the Spanish Consul has notarial authority. This costs around 50 euros, but you need to send all documents in advance and make an appointment. Confianz can assist you with this.
The third option is to have the power of attorney executed before a Belgian notary. Afterwards, the deed still needs to be legalised via apostille. A sworn translation may also be necessary in some cases. Allow for around €650 in costs. We can assist you with this too.
No time for a notarised power of attorney?
Preparing a notarised power of attorney may take several weeks. However, if you do not have time for this, you can also opt for a mandato verbal. This allows your counsel to sign the deed for you, provided you sign a ratification deed later.
Update: January 2022