In this section we explain the process of buying a Spanish property.
It covers all aspects, from making the initial enquiry through to taking ownership of the property.
In particular, we would advise that you carefully read all the information relating to legal details and completing the sale.
Don't make the same mistake that many buyers in Spain have found to their cost...not taking the correct legal advice.
Long before you get to the stage of making an offer on a property, there are a number of things that you are advised to have in place first.
Buyers who leave these key aspects until the stage where they are ready to make an offer often end up making (expensive) mistakes because they are forced into rushed decisions.
1. Find an independent English speaking solicitor
You don't have to engage their services straight away, however you can find out how much they charge, what they will do for you and have them prepared to act as soon as you are ready to make an offer.
2. Obtain a foreigner identity number
- NIE (Número de identidad de extranjero)
You will not be able to purchase a property in Spain without this. Your solicitor can arrange this for you.
3. Open a Spanish bank account
You will not be able to open a bank account without an NIE number.
Shop around, find one who has staff that speak English and get them to spell out their costs.
Pay particular attention to the costs of making transfers.
Many banks charge you money to deposit money into your account from overseas.
Once you have identified a property that is of interest and are ready to make an enquiry, think about what information you want to find out before you complete the enquiry form.
Be specific about the questions you would like to ask.
Some examples might include:
By far the best way to find out what you would like to know is to talk to us over the phone. Enter your number on the enquiry form and we'll call you back.
Before you turn up to view the property, it is useful to have some key questions ready to ask the owner. For example:
At the time of the viewing it is normal that the owner will first accompany you around the property.
Always ask if you can then take another look on your own.
Things to look for / ask about:
Take photos and notes to help you later.
After the viewing, it is worth visiting a local bar or cafe if you are seriously interested. Try to find some people who live in the area and develop polite conversation with them. Ask them what is good and bad about living there.
Of course, you are going to offer less than the asking price.
However, think carefully before you decide on a price even if it is a buyer's market.
It is imperative that you do some research beforehand and know the price range of similar type properties.
If you really like the property, offer a price that is below the asking price but not too low. Offers that are too low are likely to offend the seller, be dismissed out of hand and could bring any negotiations to a halt.
If the owner comes back with a counter offer that is less than the original asking price then you should be able to get to an amicable agreement.
Once you have verbally agreed on the price, ask the owner (through their solicitor) to agree it and any other conditions in writing.
Once you have verbally agreed on the price and any conditions of the sale, the next thing to do is contact your solicitor.
Before doing this you'll need some information from the property owner
Your solicitor will then request the following from the seller's solicitor;
Then comes the usual back and forth between the solicitors until they're both satisfied that all is in order.
Once this is done, the final thing to agree is the date that everyone will attend the Notary to complete the purchase.