A Guide to Purchasing in Spain
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Start with creating a wish list.
Why do you want to buy in Spain?
If you are relocating, what Visa will you require?
When do you wish to relocate?
Some people will plan to relocate up to 5 years ahead, however, some will purchase sooner and enjoy their property as a holiday home prior to the full time move. (Check if this will affect your visa.)
Finally, create a list of all the features you require in your new Spanish home, plus any necessary facilities within a chosen area e.g. schools, medical centres, public transport etc.
Also include ” must have features” and “compromise features” Example: 4 bedrooms to accommodate visiting guests. Could you consider 3 Bedrooms? Is a private swimming pool a “must have”?
Perhaps the most important step.
Many expats decide to purchase a property in Spain based upon visiting an area during an annual holiday. We recommend that you thoroughly research and visit an area both “in season” and “out of season.”
Consider if you would like to live and embrace the Spanish culture or do you prefer a tourist area with expats?
Don´t worry about the language barrier as virtually all areas of Spain enjoy small expat communities, plus many locals can speak English.
One major consideration is the cost of living. Purchasing in a Spanish residential area offers a lower cost of living, however, rental income is always higher in the tourist areas.
Having chosen your area, the next step is to research what you can attain for your local currency (pound / dollar etc).
A currency company will save you thousands on the exchange rate offered by your bank (and even hundreds on fees.
Most buyers will fix an exchange rate in advance which means that you will know exactly what the purchase will cost in your currency (i.e. sterling). You may lose slightly if the pound strengthens, but if the pound weakens, you could risk not having enough for your purchase.
Realister has a list of currency companies that offer an excellent service plus all “tried and tested” by hundreds of clients. We will happily offer recommendations if required.
Many estate agents state they cover the entire area. Example: Andalucia or even the whole of Spain! It is impossible to cover such large areas. Example: Within Andalucia, the distance between Malaga and Sevilla is a 2 – 3 hour drive!
To provide a knowledgeable and professional service, it is imperative that agents visit all the areas they cover and personally view all the properties that they offer for sale.
By selecting a good local agent with personal knowledge of the properties they offer, means that they can confidently answer questions including, the size of rooms, property distribution, proximity to neighbours, renovation works required, local facilities available, and much more.
They should also advise you of any potential problems.
For example:
For example:
1. “The dry riverbed provides good access to the property”. But… the heavy
rains in February mean you are cut off for 3 days
2. “Great villa with stunning views”. But the access is a difficult track.
A good local agent, who personally knows their properties, will match you perfectly to
your wish list and area. This will dramatically reduce the hours spent researching on the web.
At Realister, all our agents live within the area they cover plus work closely with the network of Realister agents located throughout Spain. This enables our agents to provide a unique and personal service.
Using a Lawyer in Spain When Buying Property
Choose a Lawyer Early.
If you’re planning to buy property in Spain, appointing a qualified, independent lawyer early in the process, is one of the most important steps you can take.
Even if you haven’t found your ideal property, having a lawyer in place ensures that you are prepared to act quickly.
Once you’ve selected the region, look for a recommended lawyer who can represent your interests – even before you make an offer.
A lawyer will:
1. Verify that the property and land is legal and free from debts or liabilities.
2. Ensure contracts are accurate and in your favour.
3. Guide you through the entire buying process with local knowledge and legal expertise.
Having legal representation also signals to estate agents that you’re a serious buyer, especially if you already have funds available or a mortgage agreement in principle. This can strengthen your position during negotiations.
Important: Never sign any documents related to your property purchase without seeking the advice and approval of your lawyer.
Obtaining your NIE and Power of Attorney
Before you purchase a property in Spain, you will need to obtain a NIE (Número de Identificación de Extranjero) – a mandatory tax identification number for foreigners.
There are two ways to obtain your NIE:
In Person
Apply directly at a local Spanish police station (prior appointments required).
Via Power of Attorney
Granting your lawyer a power of attorney (poder) allows them to:
Apply for your NIE on your behalf
Handle the legal aspects of your property purchase
Complete the registration of your new home after the sale.
You don’t need to be in Spain to set this up. You can sign the Power of Attorney at a notary in your home country, which is then legalised (apostilled) and legally translated for use in Spain.
This is a popular option for international buyers because:
1. Saves money on flights and accommodation
2. Allows your lawyer to act efficiently on your behalf
3. Offers complete peace of mind from start to finish
Your lawyer will arrange a completion date where all parties involved must be present at the notary´s office (unless using a Power of Attorney)
Following completion, you will need to change the utilities and take out adequate insurance cover. Ask your agent for recommendations as many will organize this.
Realister has an insurance brokerage which means that our agents are able to offer excellent/ competitive rates for all our clients’ needs including a selection of private medical plans.
Following the completion of your new home, Realister also offers to change your utility contracts and
set up direct debit payments.
set up direct debit payments.
Estimate approx. 10% of your purchase price.
This amount will cover your 7% tax, registry fees, notary fees, and your lawyer.
If you are purchasing under 100,000 euros, your buying costs may increase to approx.
13%. This is due to the fact that there are fixed minimum fees applicable in the lower price range.
13%. This is due to the fact that there are fixed minimum fees applicable in the lower price range.
Should you require a mortgage, there will be additional costs. Estimate approx. 3% of the mortgage.
Note: The mortgage costs must be paid upfront and cannot be included within the mortgage.
Realister are paid by the owners ….not the buyers. Ensure you check this point when choosing your agent as some agents and property finders will charge the buyer.
Realister agents cover the majority of Spain and are able to guide you throughout the entire purchase procedure to completion.
Realister agents offer a complete and professional service.
Our service includes assistance to every client hoping to purchase e.g a permanent relocation, a holiday home, a first time or experienced investor plus developers looking to increase their portfolios .