The buying process – step by step
The process of buying a house in Spain or any other country can be complicated and confusing. When you buy a property abroad, it’s even more. How long will it take? Who should be involved? What can you do to make sure you buy safely?
At Move2Spain, we help you throughout the purchase process, making sure everything is done after the book and don’t feel so complicated. Below you can see the process most people go through when buying a home in Spain.
Step 1: Talk to us about your wishes and needs.
Which area do you like, how many bedrooms do you need, do you want to be close to the beach, etc. These are questions you should ask yourself to make it easier to find the perfect property. We can help you find properties that fit exactly your needs and wishes.
Step 2: Get a lawyer.
Once you have found the right property for you, make sure to involve a lawyer in the trade to make sure everything is as it should be. Your choice of lawyer is an important step in the process of buying a house in Spain.
Your lawyer must:
- Be able to communicate easily with you – make sure they speak your native language or another language you know.
- Be available – if you still are in another country in the purchase process, how would you like to communicate with your lawyer?
- Have a good reputation – Always investigate a lawyer’s reputation before choosing
- Has been established for a while – you want to be sure your lawyer has experience with applicable laws, etc.
A lawyer also helps to investigate:
- The legal status of the property
- That the property is free of debt and charges
- That utilities and community fees are paid
- That there is a proper planning permission and licenses for improvements
Your lawyer should check these for you and you should ask for confirmation that these have been completed.
We cooperate with different lawyers, and can help with contact, etc.
Step 3: Sign the reservation contract
The next step, when your lawyer gives you the green light, is to sign the reservation contract. The reservationcontract is not an official paper, but it is considered to be legally binding and must be checked before signing it.
When you sign the contract, you pay a deposit. If you, as a buyer, break the contract, you will lose your deposit. If the seller is the one who chooses to break the contract, you are entitled to twice as much as your deposit as a substitute by law, unless otherwise is stated in the contract. When buying a project housing, more payments may occur in instalments, which requires a bank guarantee.
Step 4: Get NIEnumber and power of attorney if necessary
During the process of buying a house in Spain you should get a NIEnumber if you do not already have one. “Número de Identificación de Extranjeros” means that you are registered with the Spanish tax authorities. It must be sought personally at the Spanish embassies or at the national police station.
See the article about NIE number and Residencia
Step 5: Sign the deed
The deed must be signed at the notary’s office. At this time you will also make the final payment and receive the keys.
When you sign your deed, you will not get an original document immediately, but an authorized version known as “Copia Simple”.
Step 6: Registered on the Land registry
Once the deed has been signed, the property will be registered on the land registry and the utility companies will be informed of the change of name.
Step 7: Pay the bills from the purchase process
You must now complete your payments by settling with your lawyer. You must request a specified invoice and not only accept a total amount. You must receive original invoices for notary fees, the land registry and taxes that you have paid. You must keep all documents, invoices, receipts and warranties – you never know when you may need them.
Step 8: Know your tax
It is important that you make sure to pay your taxes when you have your property in Spain. What you have to pay depends to some extent on whether you are resident or not. Both people with residencia and non-residencia must pay IBI tax. Non-residencia must also pay a tax for not living in Spain.
Step 9: Congratulations!
Congratulations on your dream home in Spain