Buying Process in Spain (Step-by-Step)

Step 1: Reservation (Arras) & Offer Acceptance

Once price and key terms are agreed, the first formal step is a reservation. A small deposit — typically €6,000–€10,000 — is paid to remove the property from the market while legal checks begin. Your lawyer reviews the reservation document to ensure it protects your position and remains refundable if problems are uncovered.

• Confirms the seller’s intention to proceed
• Secures the property during legal review
• Deposit held by the agent or your lawyer

Step 2: Due Diligence & Legal Checks

Your lawyer now carries out full due diligence using official records, including the nota simple from the Land Registry. This stage verifies that the property is legally sound, accurately described, and free from hidden debts or planning issues.

• Confirms ownership, boundaries and charges
• Verifies licences, planning compliance and community status
• Checks utilities, taxes and outstanding obligations

If any issues arise, your lawyer can renegotiate terms or advise withdrawing before you are contractually committed.

Step 3: Private Purchase Contract (PPC)

The Private Purchase Contract formalises the sale and sets out all agreed terms, including price, timelines and conditions. It is usually signed two to three weeks after reservation and is accompanied by a 10% deposit (less any amount already paid).

• Locks in the price and completion date
• Defines penalties if either party withdraws
• Can be signed remotely under Power of Attorney

Step 4: Financing & Bank Preparation

If you are using a mortgage, this stage runs in parallel with the legal process. The bank orders an independent valuation (tasación) and finalises its offer, while funds are prepared for completion.

Non-resident buyers typically borrow up to 60–70% loan-to-value, with funds ready two to four weeks before signing.

• Open a Spanish bank account for payments and utilities
• Finalise mortgage offer and valuation
• Arrange currency exchange efficiently for large transfers

Step 5: Completion (Escritura)

Completion takes place before a Notary Public. The final balance is paid, keys are released and the title deed (Escritura de Compraventa) is signed. Ownership legally transfers at this point.

If you’re not in Spain, your lawyer can attend and sign on your behalf under Power of Attorney.

• Funds and/or mortgage are confirmed in advance
• Notary verifies identities and documentation
• Deed submitted for Land Registry registration

Step 6: Post-Completion & Utilities

After completion, your lawyer handles all formalities to ensure ownership is fully registered and services are correctly transferred into your name.

• Registration at the Land Registry
• Payment of ITP / IVA / AJD taxes
• Utility contracts, IBI, basura and community fees updated

Quick Tips for a Smooth Purchase

• Always appoint an independent lawyer acting solely for you
• Never transfer funds directly to a private seller
• Budget realistically: ~10% for resales, ~12–13% for new builds
• Arrange Power of Attorney early if buying from abroad