Buying a property in Spain

What to expect and the procedures involved

Conveyancing Tuesday, April 30, 2013
Buying a property in Spain

You can buy with confidence in Spain. However, as in every country, you need to take good advice and follow the correct procedures.

We recommend that you:

  • Take advice from the start to avoid any pitfalls
  • Use only recommended and recognised estate agents
  • Use only established developers with building guarantees
  • Use the services of a reputable and independent lawyer who is qualified and specialises in Spanish property law
  • Choose a lawyer with whom you can communicate clearly
  • Check it out with a lawyer before signing or paying anything

12 steps to buying a property in Spain

Once you have found your ideal property and have made your decision, your key contact at Ábaco will take you through these 12 steps to secure your investment:

Steps before you purchase

Step 1

Check that the seller of the property is the legal owner

Step 2

Check whether there are any debts held against the property or any other problems that could affect the sale

Step 3

Make sure that the property has all the necessary licences and authorisations

Step 4

Ensure that the rights of the buyer are protected within the contract 

Steps during the purchase

Step 5

Prepare documentation for the signing of the public title deed and arrange appointments

Step 6

Accompany the client to the notary and verbally translate all legal documents

Step 7

Arrange for the payment of fees and taxes and for the title deed to be inscribed in the local land registry

Step 8

Register the buyer with the Spanish Tax Authorities obtaining the NIE (Número de Identificación de Extranjeros)

Step 9

Arrange a mortgage or liaise with the bank to coordinate the signing of the mortgage deed

Step 10

Make the final arrangements of the sale and ensure that all documentation and arrangements are to your satisfaction

Steps following the purchase

Step 11

Make sure that all utilities are transferred into your name

Step 12

Ensure that arrangements have been made to enable you to pay the necessary property taxes

Your key contact will be with you every step of the way.

How much does it cost?

When selecting your property you need to take into account the additional costs that you will need to pay.

These include:

  • Property taxes
  • Notary and land registry fees
  • Conveyancing fee

The following tables give you an idea of what you will have to pay:

Property Taxes Table

  Purchase
New build

IVA (VAT) 10%

Stamp duty 1.5%

Second hand/resale

ITP (transfer tax) 10%

Additional costs

  Estimated Cost
Notary Ranges from 800 to 1,100€
Land registry Normally between 400€ and 800€
Conveyance fee We will provide you with a personalised quote with no obligation. This is an all inclusive figure that takes into account all aspects of the sale. 

We take care of everything, always keeping you informed

Our comprehensive service aims to take care of all aspects of the purchasing process, even your transport and accommodation when required.

An established legal firm we will provide you with:

  • The security of knowing that all our transactions are strictly in accordance with Spanish Law
  • A service that makes clarity and transparency a priority
  • Lawyers and customer care staff who communicate in your language to keep you fully informed

As an independent organisation, our clients are our priority.

We ensure you are protected

Ábaco is a registered legal firm, established in 1999 and located in the Costa Blanca. We have offices in Torrevieja and Alicante.

Our highly qualified team can boast:

  • More than 14 years experience in conveyancing
  • More than 20.000 satisfied customers with a new home in Spain
  • A wealth of specialist knowledge supplied by 42 experts in their field, including lawyers, solicitors, economists and tax advisors
  • A strong ethical code which means we expect that the estate agents and developers we work with carry out transactions strictly in accordance with Spanish Law
  • A strong record of helping purchasers who have encountered difficulties
  • A comprehensive public liability insurance for everyone’s piece of mind
  • That they are the preferred choice of the most respected estate agents, developers, notaries and banks in the Costa Blanca.

Do you have any questions?

(+34) 96 670 37 48

Please, call me back Write to us
Spain Explained by Ábaco Advisers

Request a Call Back

Our specialists are always ready to give you a call.

Call me back

Book your FREE consultation

You decide how and when you would like to talk to us.

Book now for FREE

The Ultimate Guide to Buying a Property in Spain

Get the handbook that will ensure you buy your dream property smoothly and safer

The Ultimate Guide to Buying a Property in Spain

The safest way to buy

Safeguarding your interests throughout the purchase

Home Purchase with Confidence

Receive a comprehensive assessment of your prospective property

Subscribe to our newsletter
"The Word on Brexit"

Keep informed about news on Brexit.

The Word on Brexit Edition
 

Subscribe to our Newsletter

Whether you are, our newsletter "The Word On The Street" keep you informed about what's happening in Spain.

Fields marked with * are obligatory

We guarantee 100% privacy. Your information will not be shared.