Real Estate Lawyers in Spain
Get assistance Investing in Purchasing a Property in Spain with the help of our expert Lawyers
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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 me with the Property Purchase in Spain?
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. This is also called Power of Attorney.
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
Our law firm has helped numerous clients successfully to purchase a property and start their new lives in Spain.
How can I buy a Property in Spain?
There are 3 main preliminary steps before starting with the process of purchasing a property in Spain.
- Power of Attorney: If you can’t travel to Spain freecuently, we recomend giving Power of Attorney to a Lawyer. This allows the lawyer to act in your behalf with the terms that you set.
- Obtaining a NIE Number (Spanish Fiscal ID)
- Opening a Spanish bank account and assistance with mortgage obtainment: You will need to transfer funds internationally to do the transactions.
What is the process of purchasing a property?
First, you need to have the ideal property selected. At Lexidy we can provide you with some recommendations of portals to look for your desired home in case you still have not decided yet.
Once you have the property selected, the general procedures is as follows:
- Reserve Contract: Acceptance of the formal offer. With the lawyers help, you will make an offer to the seller, and if they accept, you then need to sign a reservation contract, normally valid for 10-15 days, but it can be extended.
- Due Diligence: Due to the historic nature of Spanish real estate, we recommend performing a due diligence on the property. This means checking if there are any debts, charges or documentation issues with the asset.
- Depending on the country, we also encourage some investors to work with an arquitecht on a technical report to ensure they are built structurely correct. We can recommend partners in your area.
- Arras Contract: Here you sign a formal contract with a deadline date. The buyer makes a down payment of 10% of the property’s value, however, here in Spain it is a little different from other countries:
- If you withdraw from the contract or miss the deadline, you can miss the 10% payment unless both parties agree to continue the transaction.
- If the seller withdraw from the transaction they must pay the potential buyer double the original down payment.
- Public Deed of Sale: Next step is an appointment with a notary, where the sale and purchase agreement is signed. If a mortgage is needed, then the bank must also come to the signing. However, the buyer doesn’t have to come to this appointment, we can use the Power of Attorney and sign the agreement on their behalf.
- 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. If you want to get an exact quote on how much will the process with us cost make sure to contact us for a free case consultation.
How long will the process take?
The general timeline of the property purchase process in Spain is as following. Please note this is estimated time average and it can vary depending on each case:
- Formal Offer: Around 7 days.
- Reserve contract: 2 weeks.
- Arras Contract: 2 months
- Property Purchase: 1 month
In conclusion, buying a property in Spain can be a complicated process to do alone, specially if you are from outside the country and don’t understand Spanish.
If you’re ready to buy a Property in spain or have any questions about the process, please don’t hesitate to contact us. Our team of lawyers is ready to assist you and provide the legal support you need to succeed.
Contact Us
To request a free consultation case, please provide us with your contact details below and we will contact you via email or phone.
Buy Real Estate in Spain with Alejandro Cano
“There are many factors when considering buying a property in Spain”.
- How the payment will be made?
- What certificates do I need?
- Preliminary steps before buying a property
Quality Life for You and Your Business
Why Spain?
Buying a property in Spain not only provides the opportunity for a high quality of life with its beautiful coastline and historic cities but also offers the potential for investment returns in a growing real estate market, all within a welcoming and expat-friendly environment.
Cultural immersion
Experience the rich Spanish culture.
Location
Explore Europe without visa restrictions.
Stable economy
Spain has a stable and growing economy
Delicious cuisine
Taste world-renowned Spanish food and wine.
Affordable living
Cost of living is lower compared to other European countries.
Healthcare access
Access to high-quality healthcare facilities and services.
Real Estate Opportunities
Growing real estate market potential offers investment prospects and property value appreciation.
Expat Community
Spain's welcoming atmosphere fosters a thriving expat community, making integration easier.
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.
Our Team
For us, Lexidy is a way of life and what excites us the most is to be able to deliver the happiness and satisfaction of a successful immigration process. We want to help you achieve your goals and dreams, whether it’s residence in Spain or simply an investment.