Investing in Real Estate in Spain | Buying Process | Diana Zuuring Lawyers
An established Real Estate Agent should be appointed to act for you. He will assist you in getting acquainted with the area and of comparable values of properties with similar characteristics in different locations.
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The Buying process
when investing in Real Estate in Spain

Choosing your Real Estate Agent In Spain

When buying real estate in Spain, it’s imperative that a Real Estate Agent is acting on your behalf. Subsequently, you will have someone by your side who can assist you in getting acquainted with the area. That way, you will have an idea of the value of properties with similar characteristics in different locations. Now with this information at hand, you can compare and locate the right property at the right price. That just leaves your real estate agent to guide you through the preliminary negotiations with the prospective seller.

Choosing your Real Estate Lawyer In Spain

When buying real estate in Spain, it’s imperative that a Real Estate Agent is Consequently, it is advisable to engage the services of a registered and established Lawyer of a Spanish BAR association. As registered Lawyers ourselves, with no affiliation to any real estate agency, our aim is simple – to protect your rights when buying real estate in Spain. As a result, we provide all the legal guarantees when purchasing real estate in Spain, thus ensuring that your property is free from encumbrances, charges, liens or any other type of outstanding debt. Moreover, we ensure that local taxes, payment of any contributions and community charges are met and up-to-date. That’s why we always recommend using a local lawyer rather than one from your home country. Needless to say, your legal fees will also be substantially and the buying process much quicker.

Reservation Deposit / Due Diligence Process for Real Estate in Spain

Once you have found the the right property, the purchase process begins with a reservation agreement.  Your property will subsequently be taken off the market and also the purchase price will be sealed.

A deposit will be required at this stage and you will be expected to paid anything between 3,000 and 12,000 Euros. So, before arriving to buy your real estate in Spain, make sure that you have sufficient funds available.

The best way to pay your reservation fee is usually by credit card. We advise you not to pay by cheque, especially if drawn on a foreign bank account, as it can take approximately fourteen days to be cleared at a Spanish bank. Such a delay could cost you the loss of your property! Whilst the property is reserved we will carry out all the necessary searches to give you peace of mind.

Private Sale and Purchase Agreement – your Lawyer in Marbella

Within approximately 14 days of you signing the reservation agreement, a private sale and purchase agreement needs to be signed between you and the seller (or their authorised representative). During this time, we would have completed the investigation and relevant searches into your new property purchase. Also, we would have arranged a cancellation procedure of outstanding debts with the seller. It is a customary practice at this stage to pay approximately 10% of the purchase price minus the reservation amount. Your funds can be held in your own Spanish bank account or we can arrange for it to be held in an escrow account. As local lawyers in Marbella we have negotiated very competitive rates for our clients with a number of Spanish local banks. Please feel free to enquire by call us on (34) 952 906 185. We are Marbella’s leading Real Estate Lawyers.

Notary – Your Title Deed / Registration for Real Estate in Spain

Your property sale is formally completed in Spain when you sign title deed (“Escritura de Compraventa”) before a Public Notary. Next, you will be required to make the the final payment. Congratulations, you are now the new owner of the property and the keys are handed over to you. However, if you cannot be present at the completion, you can grant a Power of Attorney to us.  As your lawyers in Marbella, Spain we can complete and fulfil all the necessary procedures on your behalf.

So now you can have the both the convenience as well as the security of an independent lawyer in Spain.

Once you sign the title deed, the notary will fax a copy of it to the Property Registry. As your lawyer in Spain, will pay all the relevant transfer taxes and deal with the formalities of registration of your title deed on your behalf. It is important to note that the final registration of the title deed may take several months, so you may need to be a little patient.

As your dedicated lawyer, we will also arrange for the transfer of the utility service accounts, such as water, electricity and any other bill that needs to be charged by direct debit to your Spanish bank account. Once again, connection to utility services may take some time, so you’ll need to factor this in when buying real estate in Spain. Please

Purchasing your Property in a New Development

When you purchase a property in a new development, it can take up to 18 months before “completion”. As a result, payments will differ and are usually made in stages of two to four months, using bankers draft cheques from a Spanish bank account or by bank transfer. As your lawyer in Spain, we make sure the developer provides bank guarantees against each payment made.

Bank Guarantee and your lawyer in Spain

Many developers will offer you these bank guarantees free of charge whilst others will charge you a percentage. A bank guarantee protects your payments. In the unlikely event that the developer fails to complete the property, goes into liquidation or fails to complete on time and you do not wish to wait, all the sums paid by you will be returned in full.  That’s why it’s so important that you have a lawyer in Spain when buying real estate. And remember, new properties are handed over to you without water and electricity connection. However, we can arrange to have this done on your behalf. Under Spanish Law, the developer must provide you with a liability construction guarantee. Always remember that buying real estate in Spain can be hassle free when you choose a good lawyer or solicitor.

Purchasing Costs

Keep in mind that all the costs & taxes involved in when buying real estate in Spain are approximately 10-14% of the purchase price. If you place a mortgage on the property there is an additional cost of approximately 3-4% of the mortgage amount. So please bear this in mind when buying real estate in Spain.

Your Fees:

Legal fees: Your legal fee depends on the service you require, plus VAT (IVA) currently charged at 21%. We have a transparent fee structure with clear advice of any charges and fees. Consequently, we can give you a detailed estimate on the likely overall cost once we receive the information of your purchase.

Notary fees: Your Notary fees are charged according to a fixed scale, depending upon the registered value of the property. Therefore charges may range from 600 to 2.000 Euros.

Property Registry fees: Generally 60-80% of the notary fee.


To be paid by you after completion



0 – 400.000€: 8%

10% VAT To be paid by you with each instalment to the developer

400.000 – 700.000 €: 9%

700.000€: 10%

Example: If you purchase a property worth 450.000 Euros; you must pay 8% of 400.000 Euros and 9% of 50.000 Euros


1,5% Stamp duty AJD*

To be paid by you at completion

*AJD: Is the tax conveyance of assets and documented legal procedures.

Other Costs to Bear in Mind:

Water and electricity connection charges / Change of utility contracts and organizing their payment by direct debit / Wills / NIE number / Power of Attorney / Open Spanish Bank Account.