When you find your dream property, a deposit - usually €3.000 - is required by the developer to reserve the property. A reservation document is drawn up which means that the property is taken off the market, and the purchase price is fixed. This reservation sum is fully refundable if the developers do not have their paperwork in order. Also, if the developers fail to acquire a building license for the development, the funds paid will be returned. Normally at this stage you are introduced to a local lawyer who will advise you on the entire purchasing process, in addition to arranging for the transfer of the monies required for the signing of the purchase contract. Further a power of attorney can be signed at the notary office if you are not planning to be present at the signing of the title deed.