Research:

Before starting the buying process, it is important to research the market and the area where you want to buy a property. You should consider factors such as location, property type, price range, and amenities. Click here to read more about research ideas.

Find a real estate agent:

Once you have an idea of what you are looking for, you can work with a local real estate agent who can help you find properties that meet your requirements and guide you through the buying process. Check out the agents on our website.

View properties:

Your real estate agent will arrange property viewings for you. It is recommended to view several properties to compare prices, locations, and features. You can search for properties on these websites.

Make an offer:

If you find a property that you like, you can make an offer to the seller through your real estate agent. The offer will typically be in writing and will include the purchase price and any conditions or contingencies.

Sign a reservation contract:

If the seller accepts your offer, you will sign a reservation contract and pay a deposit. This reserves the property for you while the necessary checks and paperwork are completed.

Conduct due diligence:

You or your lawyer will need to conduct due diligence on the property, which includes verifying the seller’s ownership and any outstanding debts or liens on the property. This is typically done by reviewing the property’s title deeds and other relevant documents.

Sign a sales contract:

Once the due diligence is complete, you will sign a sales contract (contrato de compraventa) which outlines the terms of the sale, including the purchase price, payment terms, and closing date.

Pay the purchase price:

Before the closing date, you will need to transfer the purchase price to the seller’s account.

Close the sale:

On the closing date, you will meet with the seller and sign the final deed of sale (escritura de compraventa) before a notary public. The deed will then be registered with the land registry.

Pay taxes and fees:

You will need to pay various taxes and fees associated with the purchase, such as transfer tax, notary fees, and land registry fees.

It is important to note that the buying process in Spain can be complex, and it is recommended to work with a qualified lawyer and real estate agent who can guide you through the process and ensure compliance with all relevant laws and regulations.

What you will need to buy a property:

Legal representation:

It’s important to hire a lawyer who is well-versed in Spanish property law to represent you during the buying process. A good lawyer can ensure that the property is free of any liens or encumbrances, and can also assist with drafting contracts and other legal documents.

NIE number:

The NIE number is a tax identification number that is required for all non-Spanish citizens who want to buy a property in Spain. You can apply for a NIE number through the Spanish consulate in your home country or in person at a police station in Spain. Learn more about the NIE number and how to obtain one.

Financing:

Determine how you plan to finance your property purchase. If you need to obtain a mortgage, be aware that Spanish banks have strict lending criteria and may require a larger deposit than you would need in your home country. You can also explore financing options from other sources, such as a private lender or equity release.

Bank account:

To open a bank account in Spain, you will typically need to provide the following documents and information. Click here to read more about how to open a Spanish bank account.

Deposit:

Pay a deposit to secure the property. This is typically around 10% of the purchase price and is paid when the purchase contract is signed.