Buying property in Spain is a straightforward process when you have the right guidance.

Below is a simple overview of the steps involved when purchasing property on the Costa Cálida or Costa Blanca.

1. Financing Your Purchase

Before starting your property search, it is important to review how you plan to finance the purchase.

Foreign buyers can often obtain a Spanish mortgage of 60–70% of the property value.

Another option is to use equity from a property in your home country.

2. Appoint an Independent Solicitor

In Spain it is highly recommended to appoint an independent solicitor who represents the buyer.

Your lawyer will:

- check the legal status of the property

- verify ownership

- confirm that there are no debts or charges

- ensure all documentation is correct

3. Obtain an NIE Number

To buy property in Spain you need a NIE number (Número de Identificación de Extranjero).

This is a tax identification number required for property ownership and financial transactions in Spain.

Your solicitor normally handles the application.

4. Reservation of a property

Once you have chosen a property and the negotiation is done, a reservation agreement is usually signed, and a small reservation fee is paid.

Reservation fee is usually between 3.000-10.000 euro depending on if it’s a re-sale or new development you are buying.

This removes the property from the market while legal checks are completed.

5. Private Purchase Contract (Arras)

At the same time, a private purchasecontract (Contrato de Arras) is signed.

Normally, the buyers pay around 10% of the purchase price (minus the already paid reservation fee), as a deposit, two weeks after the reservation fee is paid and the Private Purchase Contract is signed.

6. Completion at the Notary

The final stage takes place at the Notary office, where the official purchase deed is signed.

The buyer pays the remaining amount (90%) and becomes the legal owner of the property.

If you have any questions, Spaindinavia is happy to guide you and help you through the purchase process.