One of the most common questions we receive at The Real Spain Estate Company is, “What should we know before buying a home in Spain?” This is an essential question because purchasing property in another country is a significant step, and Spain has its unique requirements and processes.

To help you understand what to expect, we’ve outlined the steps in Spain’s real estate purchase process. This guide is meant to make your journey to your dream home as seamless as possible, so you can enjoy the process and your Spanish property with peace of mind.

Complete Support Throughout the Purchase

Buying a house is a major investment, especially when buying abroad. We aim to provide not just a selection of beautiful properties but a full-service experience with personal guidance before, during, and after the purchase. From applying for your NIE number to the final handover, we’re here to ensure buying your Spanish dream home is as enjoyable as it is rewarding. With a network of local professionals—including contractors, lawyers, architects, banks, and notaries—The Real Spain Estate Company can quickly connect you with trusted contacts to assist every step of the way.

Step 1: Finding Your Dream Home

The first step in the buying process is identifying your ideal property. We begin by meeting with you to understand your preferences, needs, and budget. A personalized tour of the region often helps clients understand the area’s appeal and which locations best match their lifestyle. Together, we’ll explore exclusive properties in our portfolio and network to find the ideal property—be it a villa, apartment, or plot of land.

Step 2: Making an Offer

Once we’ve found the right property, we’ll help you prepare and submit an offer. We’ll review the relevant purchase costs, taxes, and periodic expenses to set expectations and develop a negotiation strategy tailored to the market and property. Should the seller accept your offer, we move to the next steps. If not, we can adjust and resubmit as needed.

Step 3: Reserving the Property

If your offer is accepted, it’s wise to reserve the property. A reservation agreement and deposit (usually between €3,000 and €5,000) secure the home and remove it from the market, preventing other buyers from making competing offers. In some cases, instead of a reservation, the next step is to move straight to a purchase contract (known as an ‘arras’). Either way, this stage solidifies your claim on the property.

At this point, it’s important to work with a legal advisor (Gestor or lawyer) to ensure all legal aspects are in order. Your lawyer will verify the property’s ownership, registry status, and check for any outstanding debts or legal issues. They can also help with opening a Spanish bank account and securing your NIE number, both of which are essential for property purchases in Spain.

Step 4: Signing the Preliminary Purchase Contract

The next step involves signing a preliminary contract, which requires a deposit (usually 10% of the purchase price, less any reservation fee). Your lawyer will ensure the contract is legally sound and that you’re informed about all necessary details. By this stage, you’ll need your NIE number, as it is required for the signing of purchase contracts.

Step 5: Final Handover of Your Spanish Home

Finally, the long-awaited transfer day arrives. Both you and your lawyer will attend the notary’s office for the official signing of the deeds. If you cannot be present, your lawyer can handle this step through power of attorney, ensuring a smooth transaction.

Even after the purchase is complete, The Real Spain Estate Company remains at your service for any additional needs, such as setting up utilities, managing taxes, or providing local recommendations.

Additional Costs to Consider

Aside from the purchase price, there are a few key expenses you should factor into your budget:

• Transfer Tax (ITP) or VAT: Typically 10%
• Lawyer’s Fees: 1-2% (varies by firm, with a minimum fee often starting at €1,200 plus VAT)
• Notary and Registration Fee: Approximately 1%
• AJD (New Construction Tax): Generally 1.5%
• Bank Charges: Bank checks used for the transfer incur fees
• Mortgage Costs: Additional fees apply if financing is needed

This guide serves as a general overview. For a more tailored approach and to ensure you receive expert guidance throughout the process, contact us at The Real Spain Estate Company. We’re here to help you navigate every step of the way so you can begin enjoying your new life in beautiful Spain with confidence and excitement.

Disclaimer: This guide is for informational purposes only and should not replace professional legal advice. For personalized assistance, please contact The Real Spain Estate Company directly.