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Real Estate Purchase and Sale

Buying a Real Estate in Spain

The real estate market in Spain is currently at extremely low levels, therefore if you are interested in buying a property in the Country this is one of the best moments in the last decade to do so.

With no doubt the process of buying a house in a foreign State could consist in a quite complex operation, and it surely needs the attention and the support of an independent Spanish lawyer (abogado), not connected with the promoter or the vendor.

Navas & Cusi Abogados offers a complete service of fiscal and financial advice to help the foreigner client that wants to buy a real estate in Spain, covering all the phases of the buying process. This kind of advice is tailored on the client’s needs and seeks to prevent the common mistakes in which he could incur in this kind of operations, keeping as priority the security and the protection of his rights.

Choose the perfect property

The first advice that we feel to give you is to put yourself in the hands of an expert estate agent, that knows the area and that will help you to find the property that most fits your preferences and necessities. It is also recommendable to commission a technical report from an architect or a surveyor that will verify the absence of not immediately recognizable problems and imperfections that could emerge in the future.

Get a NIE

The NIE (numero identificación extranjero) is a code for the fiscal identification that you will need to pursue all the operations necessary to finalize the purchase. The application for its acquisition can be delegated to a lawyer that will take care of all the duties connected with the procedure.


The deposit (deposito o pago a señal) could be a sum, normally set between 3.000,00 and 6.000,00EUR , that will ensure the purchase, keeping the property out of the market for a certain period of time, stopping the visiting and freezing the sale price. The deposit is normally perceived by the estate agent. Remember that, unless established otherwise, you will not be able to get back the deposit in case you decide to not complete the purchase.

It is convenient that at this point you have clear in mind in whose name you want to complete the transaction: an experienced lawyer can enlighten for you the advantages and disadvantages to buy in your own name or through a corporate vehicle set up in Spain for the purpose. The convenience of this or that choice usually depends from the Autonomous Community where the property is set and from its total value.

Bank Account and Mortgage

You will need to open a Spanish bank account to pay the quotes of the condominium, the bills and the monthly quotes of an eventual mortgage loan. We suggest you to open an account in a bank that has a branch close to the property and Navas & Cusi Abogados can grant expert financial advice over the choice of a mortgage that fits your personal preferences and needs.

Check of all the formalities

In this phase the presence of a local independent lawyer is more than ever fundamental and our Firm possesses the contacts, expertise and knowledge to easily check all the needed information like the juridical capacity of the vendors, the compliance of legal requirements and the absence of previous charges, mortgages or property rights affecting the house.

The private contract

The private contract (contrato privado) is what the parts sign privately and already contains most of the characteristics and features of the purchase. It is usually accompanied with the payment of the 10% of the purchase if the vendor is a physical person, or of between the 25% and 40% of it in case of set-off plans or new properties sold by promoters. In this percentage is usually comprehended the deposit already paid. In this moment is recommended that all the specific needs and the obligations connected with the purchase operation are clearly reflected in the text of the contract.

The public deed

The signature of the public deed (escritura publica) has to be carried out before a Notary (Notario), that is independent from the parts. The Notary controls the validity of the contract and verifies the existing charges on the property through a computer check in the Registry (Registro de Propriedad). The presence of your lawyer during the operation is highly recommended.

Inscription in the Registry

From the signature of the deed before the Notary your title of ownership will appear in the Registry as a consequence of his annotation. A further operation, though, is also required for the ownership to develop its full effects: It consists in the transmission of the original document from the Notary office to the Registry for its final certification, after the payment of the connected taxes. From this moment third parties won’t be able anymore to oppose any title to your ownership.

Taxes and Costs

To keep in mind all the costs that could arise during the operation is important to have a correct representation of it. The total costs, including the Notary fees, the registration, the legal services and the tax liabilities could consist in around 10% to 13% of the price of the property. The biggest part of this cost is represented by the tax over the transmission of properties (ITP), if the property is second-hand or the VAT, when the property is new. Navas & Cusi Abogados can help you to precisely evaluate the costs and the taxes that you will have to pay in connection with the purchase.



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