Once you’ve found the perfect property in Tenerife and are ready to proceed with the purchase, the next step is to sign a purchase contract. This essential document serves to reserve the property for you, ensuring that it is taken off the market while you finalise your arrangements.
At this stage, you will typically be required to pay a 10% deposit. This deposit not only demonstrates your commitment to the purchase but also secures your right to the property until the final sale is completed.
Understanding the significance of the purchase contract is crucial in the property buying process in Tenerife. If you have any questions or need assistance navigating the next steps, feel free to reach out. I’m here to help you make your property dreams a reality.