Buying a Property in Spain
Expert Guidance and Protection for a Stress-Free Property Purchase Experience
Spanish Property Purchase Lawyers
Contact our team of lawyers today to receive the expert legal support you need for a successful property purchase in Spain.
To request a free consultation case, please provide us with your contact details below and we will contact you via email or phone.
How can a lawyer help with Property Purchase?
There are several ways our real estate lawyers can help you with the purchase of a property in Spain:
Reviewing and explaining legal documents: A lawyer can review and explain any legal documents related to the property, such as the sales contract and title deeds.
Negotiating on your behalf: A lawyer can negotiate on your behalf with the seller or their representative to ensure that your interests are protected.
Checking for any encumbrances on the property: A lawyer can check for any encumbrances, such as liens or mortgages, on the property to ensure that you are not purchasing a property that has outstanding debts.
Assisting with the transfer of ownership: A lawyer can assist with the transfer of ownership of the property from the seller to you, including ensuring that all necessary documents are filed with the appropriate authorities.
Advising on tax implications: A lawyer can advise you on the tax implications of purchasing a property in Spain, including any applicable stamp duty or capital gains tax.
What Our Clients Are Saying
Don’t try to go through the Property Purchase process on your own. Seek the help of an experienced real estate lawyer to increase your chances of success and make the process as smooth and stress-free as possible.
How can I buy the Property?
The main requirement is to providing your NIE, or foreign ID card, as this document is unique to each individual and is essential to conduct any transaction in Spain.
Your NIE appears on all documentation you sign or receive in Spain and must be presented to administrators when signing the final deed.
Property investors also need to have a Spanish bank account and this makes the bureaucracy simpler to navigate and payments more convenient to transfer.
Our Real Estate lawyers can assist you in the process of obtaining a NIE and setting up a Spanish bank account.
What is the process of purchasing a property?
The general procedures is as follows:
- Tax and Budget Planning: Taxes and fees are mostly paid by the buyer and vary from region to region. They typically include the following:
- Property transfer tax of 6% to 10% for an existing property or a 10% VAT, or IVA, for new properties
- Notary costs, title deed tax and land registration fee of 1% to 2.5%
- Legal fees of around 1% to 2%, inclusive of VAT
- Obtain a NIE: Get your foreign ID card from the Spanish administration.
- Search for properties in Spain: Our Real Estate lawyers can help you identify the right property for you and ensure that you use reliable and trusted online portals.
- Reservation agreement and Letter of Intent: Our lawyers will draft a “Letter of Intent” for purchasing a property and guide you through the reservation agreement and any subsequent negotiations before signing a deal.
- Payment of fees: Settle any applicable Property Transfer Taxes or VAT, and update the Land Registry.
🇪🇸 Benefits of Investing in Spanish Real Estate
With the help of our qualified lawyers, smoothly navigate the process of purchasing a property in Spain and begin enjoying the benefits of ownership in this dynamic market.
Frequently Asked Questions
There are no restrictions on buying residential or commercial property in Italy.
In fact, Spain encourages overseas investment in both residential and non-residential real estate. For example, investors can apply for a Golden Visa if they spend €500,000 or more on any real estate.
All property owners in Spain must pay three different taxes annually.
Residents are subject to Income Tax, Real Estate Tax (IBI) and Capital Gains Tax.
Non-residents are subject to Income Tax, Real Estate Tax (IBI), Capital Gains Tax and a Non-resident Property Tax.
Yes. If you invest €500,000 or more in Spanish real estate, you can apply for residency with a Golden Visa. Our lawyers can assist you with this type of residency and you can read more about this here.
All new home purcahses are subject to 10% VAT on the value of the property as well as 1.5% for a Legal Documentation Tax.
When buying an existing property, you must pay a Transfer Tax, or ITP. This is levied on a sliding scale depending on the purchase price.