- Home
- Buying guide
Buying in Spain
Spanish property buying guide
Wherever you decide to buy - on Condado de Alhama Golf Resort or in one of Murcia's other hotspots - you will have questions about the process, taxes and fees, the NIE, the legal steps and what happens after. Here are the answers.
Step by step
The buying process
Find your property
Tell us your budget and wish-list. We show you the right gardens, blocks and orientations, arrange viewings or video tours, and negotiate on your behalf.
Reserve it
A reservation deposit takes the property off the market while your lawyer carries out searches and checks that the property is free of debts.
Appoint a lawyer & get your NIE
Your independent lawyer obtains your NIE tax number (or does it by power of attorney), opens your Spanish bank account and prepares the private purchase contract.
Sign the private contract
Typically 10% of the price is paid on signing the private contract, fixing the completion date and the terms of the sale.
Complete at the notary
The title deed (escritura) is signed at the notary, the balance is paid and you receive the keys. Your lawyer registers the deed at the land registry.
Move in - we take it from here
We transfer the utilities, set up your community fee payments and hand you a year of free key holding. Welcome home.
Purchase costs
Budget around 13% on top of the price
This covers the purchase tax, the notary and land registry, and your legal representation. Your lawyer will give you an exact breakdown before you commit.
Figures are a guide only and change with legislation - always confirm with your lawyer.
Running costs
What it costs to own on the resort
Community fees cover the gardens, pools, security and lighting of your garden. Utilities and taxes are paid by direct debit from your Spanish account - your lawyer sets them all up.
Your lawyer also carries out the necessary searches, represents you at the notary, arranges utility connections, registers you with the community, checks the property is debt free and keeps your tax records up to date.
Questions
Frequently asked
How much are the purchase costs in Spain?
Budget around 13% on top of the price: purchase tax of 8% for resales (ITP) or 10% VAT plus stamp duty for new builds, notary and land registry fees, and your lawyer and power of attorney costs.
What is an NIE and do I need one?
The NIE (Número de Identidad de Extranjero) is the tax identification number every foreigner needs to buy property in Spain. It is normally obtained in person at the police station in Murcia or Cartagena, but your lawyer can obtain it for you under power of attorney.
Do I need a Spanish bank account?
Yes - a Spanish bank account is needed for the purchase and for the direct debits that follow (community fees, utilities, IBI). Your lawyer can open one for you.
Can non-residents get a mortgage?
Yes. Non-residents can typically borrow up to 70% of the purchase price (not including fees and taxes). We work with banks that lend to overseas buyers and can introduce you.
How long does it take?
From reservation to completion normally takes 4 to 8 weeks, depending on the NIE, financing and the seller.
What are the running costs?
Community fees on the resort are around 80 – 120€ a month, utility standing charges around 40€ a month, IBI (council tax) 150 – 350€ a year, home insurance around 120€ a year and a non-resident tax return around 120€ a year.
What happens when I sell?
Non-resident sellers have 3% of the price retained on account of tax; your lawyer reclaims any overpayment in the following tax year.
Still have questions?
Every purchase is different. Talk to us - no pressure, straight answers, in your language.