BUYING A HOME IN SPAIN - A SHORT GUIDE IN 8
You have decided (or are
thinking about) buying a property in Spain.
Firstly don't panic, it doesn't have to be a
Don't listen to hear-say
or vague facts from friends, or things you
may have read in the press. Here is a
helpful check list of the buying process,
from start to finish...... relax!
DECIDE ON LOCATION
NEGOTIATE THE PRICE (OBVIOUSLY WITH EXPERT
CHOOSE YOUR LAWYER / SOLICITOR / GESTOR
FOR YOUR INDIVIDUAL N.I.E. NUMBER
A SPANISH BANK ACCOUNT
PRIVATE CONTRACT (SIMILAR TO EXCHANGE OF
COMPLETION (SIGNING THE TITLE DEEDS, IN
PERSON OR BY POWER OF ATTORNEY)
That is the entire
process and it can take as little as a few
weeks from beginning to end, IF (AND MOST
IMPORTANTLY) YOU HAVE THE FINANCES IN PLACE
TO START WITH.
ALL THE ABOVE CAN BE
DONE WITH OUR EXPERT HELP, EVERY STEP OF THE
WAY AND FOR NO FEE. AT SF PROPERTIES, IT IS
OUR JOB TO HELP YOU BUY YOUR FIRST PROPERTY
Now in more detail, these
8 steps are explained.
on location -
If you are reading our
web site you probably have narrowed down
your search for a property in the Axarquia
region of Malaga province.
Perhaps you are
concentrating on an area only 1 hour drive
from Malaga Airport. Cómpeta is a very good
place to start.
the property -
Decide on the type of
property you want. Give yourself a budget,
number of bedrooms, etc. Do you want to be
in a village, in the country or near the
This is where our team of experts at SF can
help. We can advise which best suits your
For instance village
properties are mostly cheaper to buy, less
expensive to run and most importantly, easy
to maintain. We can also help with finding
good quality accommodation, whilst house
hunting. You are not tied into any deal with
us, you are free to choose where you want to
go and who with - but if you do buy with us
the accommodation is free.
Negotiating the price -
Now you have found your
ideal property, we will negotiate the best
price with the Vendor (owner). That agreed,
a three thousand euro deposit is paid, as a
holding deposit so that the property is
taken off the market.
The agreed price will not
The deposit can
occasionally be higher for a particularly
expensive property but normally a three
thousand non-refundable deposit is
The money is held with
your solicitor, or with us until you have
organized one. A document is then signed by
the vendor, stating the price and any other
conditions, regarding deadlines and the date
Choosing your Lawyer / Solicitor / “Gestor”
We at SF Properties are
completely impartial. We have a list of
accredited professionals with whom we have
had first-hand experience. The choice is
always down to you the client.
It is very important
there are no language barriers and all
documents are clear and written in both
Spanish and English.
The Solicitor carries out
all the necessary legal investigations
regarding the property, making sure the
title deeds are properly registered. In
Spain there is also the “Catastral
Registry”. Please see the foot note for more
Applying for your N.I.E. Identification
This is a particularly
important step to buying anything in Spain.
All non- Spanish or foreigners, has to have
an exclusive identification number (N.I.E.).
It is VERY EASY to obtain.
Most Police Station's in
Spain have a specific department where the
N.I.E. can be obtained.
We can send a member of
staff with you, to help make the process
All that is needed, is
for you to present your Passport, along with
a photo copy. Plus three copies of a form
which we fill in for you, here in the
office. Once applied for, we can collect
your N.I.E. documents for you when they are
ready. The time scale varies but it is
usually very quick.
Opening a Spanish Bank Account -
Again this is entirely
your choice. You may prefer to organize this
before arriving in Spain but if not you can
open a Bank Account with a variety of local
Spanish Banks when you arrive.
All speak English and can
organize sending statements to your home
address, or you can check your account on
We can accompany you to
the bank of your choice to open an account.
For this you will need your N.I.E. number.
Private Contract -
Your solicitor having
made all the appropriate checks and made
sure the property complies with the law,
will draft a private contract that both
parties will sign.
This contract has all the
details of the agreements, the payment form
and the date of completion.
At this stage 10% of the
sale price of the property has to be paid.
Minus the three thousand euro deposit.
Signing the Title Deeds -
This document finalizes
the exchange of property from the vendor to
the buyer. It includes all the important and
relevant information about the property and
plot. The buyer and vendor both sign the
title deeds of the property.
This procedure takes
place at the Notary Office. Where the state
official who is assigned, will certify the
contract is legal. Also that it has been
correctly signed and both parties advised on
the payment of taxes.
This person assures you
that all legalities have been for filled.
A members of our staff
accompany you, during this final stage of
the buying process.