Property in Spain

Guide and procedure

Currently, due to the financial situation in Spain, the real estate market offers many opportunities, at very attractive prices. But what points are to be checked.

Before making a purchase in Spain, it is compulsory for anyone who is not resident in Spain, to apply for an NIE number ( Identification Number for Foreigners ) at the police station, the consulate or Spanish embassy in your country. This tax number will be the key number in all relations with the Spanish authorities in relation to an acquisition and the Spanish administrative institutions.

The opening of a bank account before an acquisition will allow you to reserve a property using a registered check and the domiciliation for invoices (water, gas, electricity) as a future owner.


To reserve the discovery of the tailor-made "favorite" and to secure your acquisition without any inconveniences, "Um Charly Immobilière" works in collaboration with a friendly and qualified family real estate company, established for 30 years in the region of Costa Blanca. Always at your disposal, they can guide you in opening a bank account essential for an acquisition in Spain.

The acquisition procedure will be supported by a renowned tax law firm, specialized in tax and legal advice for foreign residents and companies. They can assist you in opening a bank account ,inform you about acquisition taxes, annual fees and/or the steps to be taken for a possible mortgage of the property. Their service includes the necessary control and verification of data relating to the land, of the building, of the identity of the owner but also of any charges or easements attached to the property , foreclosures and unpaid invoices from the seller.

Hier Text eingeben ...

 Procedure for an acquisition of

      "the favorite".

An acquisition in Spain is normally spread over 2 or 3 installments of the agreed price of a sale of the property.

1) Give yourself time to find your favorite before investing in a property in Spain.

2) Reservation of a property (Private contract between the buyer and the seller)
The usual practice in Spain, which is completely optional, is to reserve the property with a deposit so that the seller "reserves" the property for you. The price agreed between the parties can no longer change and the good will be removed from the market.

The reservation amount will depend on its duration and the selling price of the property. It usuallyvaries between 5 and 10% of the sales agreement. This private contract must mention: the agreed price, the amount of the deposit, the amount still to be paid, the deadline for signing the Escritura (official registration), a description of the property, the contact details of both parties and any additional clauses related to the purchase. This type of contract is not regulated by Spanish law and must protect your interests, in order to avoid losing the deposit.

3) Verification of the town planning (urbanistic )and legal aspects of the property and of the actual owner (s)
This control and verification will be carried out by a professional law firm. They will verify all data relating to the land, the building and the identity of the owner of the property. Secondly, they control the possibility of charges, easements, seizures or unpaid invoices attached to the property and  the seller.
4) Sales agreement
The reservation is accompanied by the second payment which is set at 10% of the selling price of the property. It will be paid when the sale agreement is signed. It mentions the name, the supporting documents for the identity of the property, the price granted between the parties and the final date of transfer of the property before the public Notary.
(A period of 30 to 45 days is to be considered from the date of the reservation signature till the signature before the notary and the new registration.)
5) The notarial deed of sale
The third payment will be made on the day of signing the deed of sale, before the notary who will also register the property into the Registro de la Propriedad . Once the act signed, keys will be delivered and the remaining balance must be paid.

Expenses of an acquisition in Spain.

Acquisition fees vary depending on the requested services and the ownership status. They generally vary between 11% to 15% of the purchase price, in addition to the agreed selling price of the property. These costs include the Patrimonial Transmissions tax (I.T.P.), tax costs, the notary, local fees and charges as well as general costs of the law firm.

* A purchase directly from a real estate developer (new property). - The VAT  will correspond to 10% of the value of the property. There will be added the tax on documented legal acts (IAJD).

* For an existing construction of an owner (resale) .- The Patrimonial Transmissions tax (I.T.P.) to be paid currently represents 10% of the value of the property, in the Generalitat Valenciana. We add the notary fees and registration in the Property Register.

Variable costs

- Legal fees specialized in real estate
- Fees of the Notary and Registrar
- Bank charges (mortgage charges)

Annual taxes payable

The property tax ,Impuesto sobre Bienes Inmuebles- IBI, will be paid to the municipality where the property is situated.(Ayuntamiento). It is due to all legal and natural persons, named owners of a property. The IBI tax is based on the cadastral value of the property.
Municipal taxes,Tasas Depending on the municipality, consist of household garbage, wastewater, sanitation, etc.
Tax for non-residents ,IRNR, is subject to tax on income and capital gains from the property of non-residents for tax purposes in Spain.

Maintenance costs: garden, swimming pool, ..


For more information, please contact us at: + 352 621 475 003