Buying a property in Spain

Buying a house or apartment in Spain is different from buying in another country, especially the time aspect which is often longer. The more informed you are from the start, the smoother the road to finding your dream home. When it's time to choose an estate agent, you can rest assured that we at Svensk Fastighetsförmedling are with you throughout the process and are passionate about finding the right property for you.

Be sure to look at your financing well in advance. When this is done, you know, depending on the mortgage, what you can efford to buy in Spain. Read more about how to secure a mortgage for a property in Spain. We are also happy to answer questions about financing your property in Spain.

Our Swedish estate agents always aim to show you only those particulary properties that we know you are actually looking for and dreaming about. In this way, your viewing will be as efficient and smooth as possible and meet your expectations. We meet at our office and then go together to view the different properties.

At the viewings it is then good to examine the property as thoroughly as possible. All properties in Spain are sold as is and as a buyer you have a duty to inspect the property. When you buy a second-hand property in Spain, furniture, appliances and fittings are often included. However, if you buy a newly built property in Spain, it is usually completely empty when you buy it.

Afterwards, we go through and check the different options to take the next step.

If for some reason you do not have the opportunity to come down to Spain, our agents can help with different types of digital viewings. Talk to the agent about the different possibilities and how to book appointments for digital viewings.

In Spain, it is unusual to have the type of bidding that we have in other countries. You start by making an offer to your estate agent, who submits it to the seller. In Spain, you usually make an offer that is lower than the starting price. The final price is often determined by a negotiation. We help you negotiate the price and conditions with the seller.

Reservation

When you and the seller agree, an agent is usually involved. When you agree on a price, a reservation contract is signed. This means that the buyer pays a reservation fee/deposit to reserve the property. The reservation can vary between €3,000 and €10,000 depending on the property.

Down payment

The next step is to sign a purchase contract. Here the buyer normally pays a deposit of 10% of the total purchase price, minus the reservation already paid. The final payment is then made on the day you take possession.

Additional costs

In addition to the purchase price, there are additional costs of about 10-15% of the purchase price. These costs relate to notary's fees and various types of tax, depending on which region you are in.

Notary

To verify the identity of the seller and the buyer, a notary is appointed, a recognized legal expert, authorised to perform acts in legal affairs, in particular witnessing signatures on documents. This person provides information about any debts related to the property, ensures that your payment as a buyer is correct according to Spanish law and that it has reached the seller before the contract is signed.

The notary also draws up the deed of sale, which is the basis for your title deed application. Registering the title deed can take about 2-3 months. Once it is registered and all taxes and fees are paid, you will receive it back with the registration certificate.

NIE number

To be able to own a property in Spain, you need a Spanish tax identification number, a so-called NIE number. You can apply for this yourself but the easiest way is to authorise an agent to make the application.

On the closing date, the legal representatives meet with the notary. The notary checks the identities of both the buyer and the seller, the legal condition of the property, draws up a purchase contract and signs the deed.

This is also where you receive your ownership certificate and your agent receives the keys to your new home.

The seller is responsible for leaving the property in the condition and with the installations and licences specified in the sales contract. Keep in mind that the home is usually left in the existing condition to a new owner unless otherwise agreed between the parties.