How to Buy Property in Spain

**NIE (Número de Identificación de Extranjero)** — foreigner identification number, mandatory for any transactions in Spain.

How to get it:

- At Spanish consulate in your country (2-4 weeks)

- In person in Spain at police station (1-3 weeks)

- Through power of attorney with our help (we do it for you)

Documents:

- Passport + copy

- Completed form EX-15

- Proof of reason (preliminary purchase agreement)

**Cost:** €9.84 (government fee)

You'll need a Spanish bank account to buy property.

Popular banks for non-residents:

- Sabadell

- CaixaBank

- BBVA

- Santander

Documents:

- Passport

- NIE

- Proof of income/employment

- Criminal record certificate (sometimes)

**Opening time:** 1-3 days

**Cost:** Free or €50-100/year

We accompany you to the bank and help with document translation.

What we check (Due Diligence):

**Nota Simple** — property registry extract

- Who is the owner

- Any encumbrances/mortgages

- Plot area and boundaries

**Debt-free certificate**

- Utility payments

- IBI tax

- Community fees

**Licenses and permits**

- First occupation license (for new builds)

- Building compliance

- Energy certificate

**Technical inspection**

- Structural condition

- Utilities

- Hidden defects

Our lawyer conducts full verification before deposit.

Stages of securing the deal:

1. Reservation (optional)

- Amount: €3,000 - €10,000

- Term: 7-14 days

- Refundable if cancelled (usually)

2. Preliminary contract (Contrato de Arras)

- Deposit: 10% of price

- If buyer withdraws — loses deposit

- If seller withdraws — returns double deposit

- Time to completion: 1-3 months

What's included:

- Price and payment terms

- Notary signing date

- List of included furniture/appliances

- Penalty clauses

Mortgage for non-residents:

Terms:

- Up to 70% of value (residents — up to 80%)

- Rate: 3-4% annually (fixed or variable)

- Term: up to 25-30 years

- Borrower age: up to 75 at repayment

Required documents:

- NIE and passport

- Income proof (2-3 years)

- Tax returns

- Bank statements

- Employment contract or self-employment docs

Process:

1. Pre-approval (1-2 weeks)

2. Bank property valuation (€300-500)

3. Final approval (2-4 weeks)

4. Signing at notary with purchase deed

We work with mortgage brokers who find the best terms.

Completion day (Escritura Pública)

Who attends:

- Buyer (or representative with power of attorney)

- Seller

- Notary

- Bank representative (if mortgage)

- Translator (if needed)

What happens:

1. Notary reads the contract

2. Document and payment verification

3. All parties sign

4. Key handover

Payment:

- Bank check (ordered in advance)

- Or transfer on the day

After signing:

- Land Registry registration (1-2 months)

- Utility transfer

- Tax payment within 30 days