
Property in Spain
A Buyers Guide
Buying a property in Spain can be hassle-free provided you follow the correct procedure and appoint an English-speaking lawyer. Areas such as the Costa del Sol and Costa Blanca have been popular with British buyers for decades, but such is Spain's appeal that other costas and even inland regions are now attracting property buyers from the UK. Spain's wonderful weather, varied scenery and excellent infrastructure means finding that home of your dreams is as easy as 1,2,3.
So, once you have found a home you wish to buy, and your (locally-based) lawyer has checked that the property is registered in the Registro de Propiedad (which will outline who the property belongs to, its exact size specifications and any outstanding debts tied to it), you will need to place a deposit on your home to secure it and have it taken off the market. The deposit is 10% for a secondhand property and between 25%-40% for a new build (off-plan) property. At this stage, you will also need to apply for a Numero de Identification de Extranjeros (more commonly known as a NIE number).
Next, a notary will be appointed to draw up the purchase contract (called the contrato de compraventa in Spanish)and oversee the proceedings. This is where the buying process differs to that of the UK and why it is essential to appoint a good, English-speaking lawyer to check all the paperwork. A notary's job is to impartially ensure that every step of the sale process is followed legally and fairly. You can appoint your lawyer with power of attorney to sign the purchase contract if you so wish - this is a good option if it is difficult for you to be in Spain when the contract is ready to be signed.
