Spanish Property Purchase Process | What You Need to Know
The Spanish Property Buying Process – Step-by-Step Guide
Buying a house in Spain can be a smooth and stress-free experience when you understand the legal process.
Whether it's your new holiday home, investment, or permanent residence, we're here to make the transition seamless.
Below is a simple, step-by-step guide to help you through the Spanish property purchase process.
1. Reserve Your Property
Once you’ve found a property in Spain that you want to purchase, the first step is to reserve it.
To do this, you need to make a reservation deposit. This can often be as little as €3,000/€5,000, depending on the price of the property and the Sellers requirements.
The payment, depending on the Sellers requirements, will be paid to either, an Estate Agent or, a Lawyer.
Costa Blu Homes, prefer you to pay your Reservation deposit, initially, to your Lawyer directly, in order they then make initial legal and due dililgence checks on your behalf, to add additional safety to your money.
Costa Blu, prefers you to have the deposit remain in a lawyer’s client account, (As agreed at time of reservation) until both parties sign the private purchase contract (Contrato de Compraventa). *this is usually a week to two weeks after reservation, depending how fast the lawyers, seller and buyers communicate and decide on timelines.
At the point of signature of the Contrato de Compraventa *contract, you would pay 10% of the sale price (minus the Reservation deposit already paid)
2. Legal Representation and Power of Attorney
Your appointed solicitor will handle all legal aspects of the transaction.
By granting Power of Attorney (POA), your lawyer can act on your behalf in Spain, in your absence, so you do not need to be physically in Spain, through every step of the process.
This includes and is not limited to:
Obtaining your NIE (Número de Identificación de Extranjero) – a legal requirement for buying property in Spain
Opening a Spanish bank account in your name
Change over utility contracts like water and electricity into your name
3. Transferring Funds and Currency Exchange
Before the final completion, you'll need to transfer the remaining funds to your Spanish bank account, or your Lawyers Bank Account.
Costa Blu Homes, can offer advice on Currency Exchange service providers, which can save you Thousands of Euros
4. Completion at the Notary
Your lawyer will arrange the completion appointment at the Spanish notary, where the final contract is signed. If you cannot attend in person, your lawyer will sign using the POA and:
Pay the 10% property/government tax *reducing to 9% in June 2026
Handle all remaining legal fees and payments
5. Handover and Welcome
Once the property purchase is complete, we will meet you at your new home in Spain to hand over the keys and help you get settled.
6. Other Matters
We can also offer guidance on other aspects, such as, Currency Exchange, Property Insurance, Furnishing your home, Builders, Pool Builders and much more
Ready to Buy a Property in Spain?
Contact us today to start the process or ask questions!
Fill out the Contact form below, or, contact us on Whatsapp: 0034 711 07 9000