The process of purchasing property in Spain in a nutshell!

Buying property in Spain works differently than in the Netherlands. To give you a clear picture of how the process works, we have briefly explained below what steps you can expect when buying Spanish property. If you want more information, download our 6 step plan for buying in Spain or plan a consultation in!

1. Reserving the Property

In Spain, estate agents do not work exclusively, which means that the same property is offered by several agents. To avoid your real estate gem being bought by someone else, it is smart to reserve the property of your choice as soon as possible. Reservation fees vary by region: on the mainland you often pay a few thousand euros, while in Ibiza it can go up to tens of thousands of euros.

2. Checking the Nota Simple

A ‘nota simple’ is an extract of the title deed from the Spanish Property Registry (Registro de la Propiedad). This document confirms that the seller is the rightful owner and provides information about the size of the property and any debts or mortgages. Your lawyer or gestor (business representative) will request this document to make sure everything is in order.

3. Preliminary Purchase Contract

After the reservation, a preliminary contract of sale is drawn up. With new construction, the selling party does this, and with existing construction, the buying party. This contract contains all the details about the type of property, specifications and floor plans, the agreed price and dates for down payments and remaining payments.

4. Down payment and remaining payments

Within a month of booking, the first installment payment usually takes place. How the rest of the payments are made depends on your situation (equity or mortgage), the type of property (existing or new construction) and the seller’s requirements. For example, when financing with a mortgage, you often pay 30% as a down payment and the remaining 70% at transfer. If you finance it from your own funds, you may pay two down payments of 25% and the remaining 50% at transfer.

We’re here to help!
This is a simplified view of the purchase process. At Your Destinations, we are here to guide you every step of the way so you can buy your dream home in Spain with confidence.