Purchasing process

Purchasing process information

We know the process of buying your dream home, either if it’s to live there or just an investment is a hard procedure. Especially if you are acquiring a property in another country. What you need to know is the following: buying a property in Spain is not hard if you are working alongside a good lawyer and a good real estate agent.

First step: Nota Simple

After you’ve found the right property for you, the next step is always contacting a lawyer. In Marbella, as well as in Costa del Sol, there are many lawyers exclusively working in real estate matters, so it’s not hard to find one who speaks your language.

The first important document in this process is what we call ‘Nota Simple’ (Simple Note), which is under the registration of ‘Registro de la Propiedad’ (Property Registry). What this note does, is stating if there are debts associated with this particular property. It’s important that your lawyer takes the time to read this document since its information must be equal to the characteristics of the property in order to be valid.

Second step: Pre-Purchase Agreement

If everything with Nota Simple is in perfect condition, the sale can go to the next step which consists of the signing of a pre-purchasing agreement that gives you ‘the right of the reservation of the property’. From this moment, the property is automatically off-market and can’t accept any more offers.

For the signing of this agreement, the buyer usually pays 10% of the total amount. There are special circumstances that can modify the percentage)

It’s important to note that if the buyer cancels the process of buying the property, she or he loses the deposit on its total amount. In the event of the owner/seller of the property decides not to go through with the process, she or he has to return the deposit on its double amount.

If both parties agree, there can be other agreements.

Third step: financing:

Financing is the following step, but it’s a process that takes place simultaneously with the signing of the Pre-Purchase Agreement. Once the selected bank entity sees the Agreement, it proceeds to make an individual valuation of the property. Please note that the acquired loan will be based on that amount, not the original selling price.

The fee for this process is from 300 € to 500 € depending on the banks and external factors.

Fourth step:

To be the new owner of the property, you will need to find a notary, who will now certify the property transfer from the seller to the buyer.

The notary always checks the

Both parties sign the agreement by the notary and the process can be concluded.

Extra information: TAXES

Buying existing properties: the tax increases depending on the value of the property.

Buying off-plan or new developments: IVA (VAT) of 10 % and Stamp Duty 1,5 %

Extra information: NIE

Maybe this is one of the most important factors when buying a home. NIE is a unique identification card for anyone who wasn’t born in Spain. You will need one in order to buy a property in Spain and pay taxes. The procedure is simple, you can apply for it on the Spanish Consulate of your country or in Spain if you are spending time here.

Extra information: Registering your new property

As the new owner, you need a document that reflects the true owner of the property. To do this, you will have to do it at ‘Registro de la Propiedad’.

The fee is based on the amount of the property:


THE MINISTERY OF PUBLIC WORKS TRANSPORT AND HOUSINGA has a great outline on their website to: Safely Purchasing a House in Spain. For more detailed information visit their page.

Within the Spanish legal system there are a series of documents that certify that a house is completely legal. Make sure that you have all of them before purchasing a property. These are:

We also recommend:

Golden Visa

In 2013 Spanish market changed forever when Golden Visa was introduced. This new market strategy states that with an investment of at least 500.000 € in real estate, you, and your family can get the Spanish residency.

After five years of living in Spain with your NIE (Número de Identificación de Extranjeros) you are able to apply for the permanent residency. After 10 years of living in Spain, you are able to apply for the official Spanish citizenship.

For this process it is important to have full legal advice. At Key Real Estate we can help you find the perfect professional for your Golden Visa.