Purchasing Your First Home in Spain

Moving to Spain is like opening a treasure trove of experiences, full of wonder and excitement. It's a place where you can relax and enjoy the moment, savoring the tastes and smells of the Mediterranean, or let your hair down and join the party. The vibrant, colorful, and enchanting Spain is a country that will capture your heart and soul, making it a perfect place to start your new life.

If you're interested in purchasing a property in Spain, we have the process broken down in to 9 easy to follow steps. It is a quick, condensed version but you will still be pleasantly surprised how manageable the process is.

1. Research the Spanish Housing Market

Look into the areas where you'd like to live in Spain, familiarize yourself with the local real estate market and get an idea of the type of property you are interested in. This may seem like a given, but we highly recommend as many exploration trips as possible in the region you decide to call home.

2. Hire a local agent or lawyer

Consider hiring a local real estate sales professional or lawyer (abogado) to assist with the buying process, especially if you do not speak Spanish. They will have in-depth knowledge of the local market and can guide you through the process. Agency representation in Spain differs from that of the U.S. as buyers agents are not as typical- many agents represent the seller.

We have a large referral pool to assist you in the various areas of the country!

3. Obtain a NIE (Foreigner Identification Number)

This is a requirement for all non-Spanish residents looking to buy property in Spain. You can obtain this from the Spanish police station or a local Spanish consulate.

4. Open a Spanish bank account

You will need a Spanish bank account to make payments for the property, including a deposit and the final purchase price.

5. Make an offer

Once you've found the right property, make an offer through your chosen real estate brokerage or lawyer. In Spain, it is typical to negotiate on price with sellers- expect a reduction of 5-10%!

Helpful Tips* Before making an offer, there are two key items to review: the nota simple and the ITE. The nota simple — a Spanish Property Registry document that includes a detailed property description, owner’s info, if there are any debts, property boundaries, and how the land is classified. ITE (Inspección Técnica de Edificios) — a document that shows if the building is in a good state, and gives you information on its energy efficiency.

6. Sign a contract

Once your offer has been accepted, you will need to sign a private purchase contract with the seller. This contract will outline the terms of the sale and will be binding once signed by both parties.

7. Pay a deposit

A deposit of 10-30% of the purchase price is typically required at this stage, and will be held in a trust account until the completion of the sale. If you're moving from the U.S., consider this as your "earnest money".

8. Complete the transaction

Once all the necessary paperwork is in place, the sale can be completed. You will need to pay the remaining balance of the purchase price and transfer ownership of the property to your name.

9. Register the property

The final step is to register the property in your name with the Spanish Land Registry. Your real estate agent or lawyer can assist with this process.

If you're considering moving to Spain, we hope this blog post has demystified the process and given you the confidence to move forward with your relocation plans. There is so much more to discover and experience, and we would be thrilled to help you on your journey. Whether you have questions about visas, housing, or just want to know more about the Spanish lifestyle, EZ Relocation is here to help. We look forward to hearing from you and helping you make your dream of living in Spain a reality!