Step 1: Set Your Budget

Before you start your property search, it’s crucial to determine your budget. Keep in mind these additional costs on top of the purchase price:

• Transfer tax: 6–10% for resale properties or 10% VAT (IVA) for new-builds.

• Notary, registration, and legal fees: 1–2.5%.

• Other administrative fees: 1–2%.

It’s wise to set aside an extra 10–15% of the purchase price for these additional costs

Step 2: Obtain Your NIE Number

A NIE number (Número de Identificación de Extranjero) is mandatory for foreign buyers in Spain. You need it for tax purposes and to complete legal paperwork. It can be obtained at a Spanish police station or via your local Spanish consulate.

Step 3: Open a Spanish Bank Account

While not required, opening a Spanish bank account simplifies payments such as deposits, taxes, and other administrative fees. It also makes it easier to work with Spanish financial institutions.

Step 4: Find Your Perfect Property

Start exploring properties on our website. We have actually more then 17.000 properties for sale in Spain When searching, consider:

• Location: City, town, or coastal area

• Property type: Apartment, villa, finca, etc.

• Amenities: Schools, shops, public transport, beaches

• New build properties

• Resales properties

Step 5: Sign a Reservation Agreement

Once you’ve found a property, you agreed on the price after negociations, you’ll sign a Reservation Agreement (Contrato de Reserva). This temporarily takes the property off the market while you carry out due diligence. A deposit od roughly €3.000 - €10.000 ( depending on the price of the property ) is usually required, held in escrow.

Step 6: Hire a lawyer to ensure the property is free of debts and legal issues. This includes:

• Checking the Registro de la Propiedad (Property Registry) for ownership and charges

• Obtaining a Nota Simple Informativa for legal details

• Conducting a technical inspection to assess the property’s condition

Step 7: Sign the Preliminary Purchase Contract

After a successful due diligence, sign the Contrato Privado de Compraventa (Preliminary Purchase Contract) and pay a deposit, typically 10% of the purchase price. This contract sets out the terms of the sale and protects both parties.

Step 8: Sign the Final Deed at the Notary

The final step is signing the Escritura Pública de Compraventa (Official Deed) with a Spanish notary. You pay the remaining balance along with applicable taxes and fees. After signing, the property is officially registered in your name.

Important Considerations

Mortgages: Non-residents can usually get a mortgage for up to 70% of the property value. Terms vary by bank and your financial situation.

• Taxes: Non-residents must pay annual income tax (IRNR) based on the cadastral value of the property

• Renting: If planning to rent your property, check local regulations and permits for holiday rentals.