Buying Property in Spain: The Complete Guide

The NIE (Número de Identificación de Extranjero) is your Spanish tax identification number — without it you cannot sign any legal documents or complete a property purchase in Spain. Apply at a Spanish consulate in your home country or at a police station (Comisaría) in Spain.

• Allow 4–8 weeks if applying from abroad
• Your solicitor can apply on your behalf via Power of Attorney
• You will need passport, completed EX-15 form, and proof of reason for application
• Cost is approximately €10–15 in official fees

You will need a Spanish bank account to pay purchase taxes, utility bills, and community fees after completion. Most major Spanish banks — Sabadell, BBVA, CaixaBank, Santander — offer non-resident accounts.

• Required documents: passport, NIE, proof of address, proof of income
• Non-resident accounts (Cuenta de No Residente) have no minimum balance requirements
• Online banking is available in English at most major banks
• Monthly fees are typically €5–20

Establish your total budget before you begin viewing — include the purchase price plus 12–15% for taxes and transaction costs. If you require a mortgage, get an Agreement in Principle before making an offer.

• Spanish banks lend up to 70% LTV to non-residents (vs 80% for residents)
• Interest rates in Spain are typically Euribor + 0.9–1.5%
• Fixed-rate mortgages are available for 15–30 year terms
• Currency exchange: consider a forward contract to lock in today's rate

Once your finances are in order, begin your property search. We maintain relationships with developers and private sellers across the Costa Blanca and can arrange a tailored viewing trip — typically 2–3 days covering 6–10 properties matched to your criteria.

• Be specific: tell us your must-haves vs nice-to-haves
• Consider resale vs new build — very different legal and tax implications
• Factor in community fees, IBI tax, and proximity to services
• Visit at different times of day to assess noise, sunlight, and neighbours

When you find the right property, submit a written offer. Once accepted, you will sign a reservation contract (Contrato de Reserva) and pay a deposit — typically €3,000–6,000 — to remove the property from the market while legal due diligence is completed.

• Reservation deposits are usually refundable if legal checks reveal serious issues
• This is followed by the Arras contract (see below) within 4–6 weeks
• Never sign anything without your solicitor reviewing it first
• Verbal agreements are not legally binding in Spain

Your solicitor will carry out full legal due diligence on the property: checking title deeds, outstanding debts, planning permissions, community debt, and the Nota Simple. Once clear, you sign the Arras contract and pay 10% of the purchase price (minus the reservation deposit). If the seller pulls out, they must return double your Arras.

• Nota Simple: official Land Registry extract confirming ownership and encumbrances
• IBI receipts: confirms property taxes are up to date
• Community debt certificate: confirms the community of owners has no unpaid debts
• Urban compliance certificate: confirms no illegal extensions or planning breaches

If financing, your bank will now instruct a valuation survey (tasación). This is mandatory — the bank will lend based on the lower of the agreed purchase price or the surveyor's valuation. Allow 3–4 weeks for mortgage approval and signing.

• Tasación cost: approximately €300–500
• Bank will also run an affordability check (typically 35–40% DTI maximum)
• Life insurance is often required as a condition of the mortgage
• Opening commission (comisión de apertura) is typically 0–1%

On completion day, all parties attend the notary (notaría). You sign the Escritura de Compraventa (deed of sale), pay the outstanding balance and all taxes, and receive the keys. Your solicitor will then register the property in your name at the Land Registry — this typically takes 1–3 months.

• Payment must be via banker's draft (cheque bancario) or bank transfer
• Bring your passport and NIE on the day
• The notary reads the deed aloud — you can request an interpreter
• You legally own the property from the moment the deed is signed