The Step-by-Step Guide to Buying Property in Spain as a Foreigner

Buying property in Spain as a foreign national is a well-trodden path, and the process is more straightforward than many people expect. Here's a step-by-step overview of what to expect from your first viewing to collecting the keys.

Step 1 — Get your NIE number. The Número de Identificación de Extranjero (NIE) is a tax identification number required for all property transactions in Spain. You can apply at a Spanish consulate in your home country or at a police station in Spain. Allow several weeks for processing.

Step 2 — Open a Spanish bank account. While not strictly mandatory, a Spanish bank account makes it much easier to manage payments, utility bills, and mortgage repayments. Most major Spanish banks offer accounts for non-residents.

Step 3 — Appoint a lawyer. We strongly recommend appointing an independent Spanish lawyer (abogado) to carry out due diligence on the property, check for debts or encumbrances, and guide you through the legal process. Your lawyer will also review the purchase contract.

Step 4 — Sign the reservation contract and pay the deposit. Once you've agreed on a price, you'll sign a reservation contract (contrato de arras) and pay a deposit — typically 10% of the purchase price. This takes the property off the market.

Step 5 — Complete at the notary. The final step is signing the escritura (title deed) at a notary's office. At this point, you pay the balance of the purchase price and the property is legally transferred to you.

Step 6 — Pay taxes and register the property. After completion, you'll need to pay purchase taxes (ITP for resale properties, or VAT + stamp duty for new builds) and register the property in your name at the Land Registry. Your lawyer will handle this on your behalf.

Our team at Pardalis Estates works with trusted local lawyers and can recommend professionals to support you through every stage of the buying process. Get in touch to find out more.