✓Quick Answer
The Spanish property buying process takes 6-12 weeks for resales, 12-24 months for new builds. Key steps: reservation deposit (€3-6k), private purchase contract (10% deposit), completion at notary (full payment). Always use an independent lawyer and get NIE number early.
Buying property in Spain follows a structured process that, once understood, is straightforward and secure. This guide walks you through every step, from initial search to receiving your keys, with practical advice based on thousands of successful purchases.
Step 1: Define Your Requirements
Before viewing properties, clarify your priorities:
Location questions:
Beach proximity or peaceful inland?
North Costa Blanca (dramatic, upmarket) or South (sunny, social)?
Near airport? Alicante serves both regions
Golf course access important?
Property questions:
Villa, townhouse, or apartment?
New build or resale?
Number of bedrooms/bathrooms?
Pool essential or nice-to-have?
Budget including 13% buying costs?
Practical questions:
Will you rent it out?
How often will you visit?
Need lock-up-and-leave security?
Future resale potential important?
Write these down. They help agents find suitable properties and prevent time-wasting viewings.
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Step 2: Get Your Finances Ready
If paying cash:
Ensure funds are accessible
Plan for international transfers (use specialist like CurrencyFair or Wise)
Open Spanish bank account (can do in person or remotely)
If needing mortgage:
Get agreement in principle BEFORE making offers
Spanish banks lend 60-70% to non-residents
Process takes 4-6 weeks for approval
Compare rates through mortgage broker
Currency considerations:
Fix exchange rate to protect budget
Forward contracts lock in rate for future payment
Currency fluctuations can add/cost thousands
Proof of funds:
Sellers may request bank statements
Mortgage agreement in principle
Shows you're a serious buyer
Proof of funds:
Sellers may request bank statements
Mortgage agreement in principle
Shows you're a serious buyer
Step 3: Property Viewing Trip
Organize efficiently:
Book 3-4 days minimum
View 8-12 properties maximum per day
Mix of areas to compare
Second viewing of favorites before leaving
What to look for:
Orientation (south-facing best for winter sun)
Storage and parking
Community facilities condition
Noise levels at different times
Mobile phone signal
Walk the neighborhood
Questions to ask:
Community fees amount and what's included
Any special assessments planned?
How old is the roof/AC/pool equipment?
Why is owner selling?
How long on market?
New builds specifically:
Visit completed phases if available
Check developer track record
Understand specification included vs upgrades
Timeline and payment schedule
New builds specifically:
Visit completed phases if available
Check developer track record
Understand specification included vs upgrades
Timeline and payment schedule
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Step 4: Make an Offer
Offer process:
Submit in writing through agent
Include: price, conditions, timeline
Typically 5-10% below asking is acceptable
New builds usually fixed price
Negotiation points:
Price (primary)
Furniture/contents included
Completion date flexibility
Repairs or improvements
Fixtures and fittings
Once offer accepted:
Verbal agreement only - not binding
Move quickly to reservation
Appoint lawyer immediately if not already done
Once offer accepted:
Verbal agreement only - not binding
Move quickly to reservation
Appoint lawyer immediately if not already done
Step 5: Reservation & Due Diligence
Reservation deposit:
€3,000-10,000 typical
Removes property from market
Usually non-refundable
Applied to purchase price
Your lawyer should check:
Property registered correctly
Seller is legal owner
No debts attached (mortgages, embargos)
No illegal construction
Community fees paid up to date
Urban planning status (no planned roads through garden!)
Energy certificate valid
Get your NIE:
Start process immediately
Required for contracts and completion
Lawyer can handle this
For new builds:
Check building license valid
Developer has bank guarantee
Specifications detailed in contract
Payment schedule and penalties
For new builds:
Check building license valid
Developer has bank guarantee
Specifications detailed in contract
Payment schedule and penalties
Step 6: Private Purchase Contract
The key document:
Legally binding on both parties
Typically 10% deposit paid (less reservation)
Sets completion date
Details all terms and conditions
Contract should include:
Full property description
Exact price and payment terms
Completion date
What's included (furniture, etc.)
Penalty clauses for non-completion
Conditions (subject to mortgage, surveys, etc.)
If you withdraw:
Lose your 10% deposit
Seller keeps it as compensation
If seller withdraws:
They pay you double your deposit (20%)
Strong protection for buyers
If seller withdraws:
They pay you double your deposit (20%)
Strong protection for buyers
Step 7: Arrange Completion
Before completion:
Final funds transferred to Spanish account
Lawyer prepares deed (escritura)
Notary appointment booked
Final property inspection
Meter readings taken
At the notary:
Seller, buyer (or representatives) attend
Deed read aloud in Spanish
Translator provided if needed
Sign multiple copies
Pay remaining balance
Receive keys
Immediately after:
Lawyer registers deed at Land Registry
Pays taxes on your behalf
Transfers utilities to your name
You're officially the owner!
Immediately after:
Lawyer registers deed at Land Registry
Pays taxes on your behalf
Transfers utilities to your name
You're officially the owner!
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New Build Timeline
Off-plan purchase typical timeline:
Month 1:
Reservation deposit (€3-10k)
Private contract (20-30% of price)
Construction period (12-24 months):
Stage payments as building progresses
Typically 3-4 additional payments
Each tied to construction milestones
Pre-completion:
Snagging list inspection
Final customization choices
Arrange mortgage drawdown if applicable
Completion:
Final payment (usually 30-40%)
First Occupation License issued
Sign at notary, receive keys
Bank guarantees:
All deposits held in protected account
If developer fails, money returned
Required by Spanish law for off-plan
Bank guarantees:
All deposits held in protected account
If developer fails, money returned
Required by Spanish law for off-plan
The Bottom Line
The Spanish buying process is well-regulated and protects both parties. Success comes from preparation: get finances ready, appoint a good lawyer early, and don't rush major decisions. Most international buyers complete without issues and wonder why they waited so long to buy their Spanish dream home.
Interested in properties in this area? Book a free 30-minute consultation with our team — with over 12 years of experience, we'll help you find exactly what you're looking for.