Buying a property in Spain in 5 easy steps
Buying a property in Spain in 5 easy steps
Introduction
Buying a property in Spain can seem complex for a foreigner. But with the right preparation and professional guidance, the process can be simple and secure. Here's a clear guide in 5 practical steps to making your purchase a success.
1. Define your project and your budget
Before you start looking, it's essential to determine your objectives: are you looking for a second home, a rental investment or a permanent move? You should also set your overall budget, including the price of the property and the costs of buying in Spain (on average 12% to 14% of the price of the property).
2. Obtain your NIE (foreign identification number)
The Spanish NIE is compulsory for all property purchases. This administrative document can be obtained from the Spanish national police or the Spanish consulate in your country of origin. Without this number, it is impossible to sign the deed of purchase.
3. Looking for the ideal property
Once you have your NIE, you can start looking. Use a specialist estate agency to save time and access verified properties. Check the condition of the property, its location and proximity to essential services (transport, shops, schools, health).
4. Sign the reservation contract and the preliminary contract
Once you've found the property, you'll sign a reservation contract and then a preliminary contract (contrato de arras). This document is binding on both parties and requires a deposit to be paid (usually 10% of the price of the property).
5. Finalise the purchase before a notary
The final stage is to sign the deed of sale in the presence of a Spanish notary. You will pay the balance of the price and the associated costs (notary, tax, registration). You will then receive your keys and officially become a homeowner in Spain.
Conclusion
Buying a property in Spain is not complicated if you follow these 5 simple steps. With the right guidance, you'll gain legal certainty and avoid unpleasant surprises.
