Understanding the Legal Aspects of Buying Property in Spain

  The process may seem daunting, but with the right team and guidance, it can be smooth and rewarding. Read our full guide on buying property in Spain for further insights and reach out to us today to start your journey!

Purchasing property in Spain is a dream for many, but navigating the legal aspects can be a bit challenging, especially for international buyers. At Marena Murray Property, we specialize in making this process as seamless as possible, guiding you through each legal requirement to make your buying journey smooth, secure, and enjoyable.

Step 1: Obtain an NIE Number

The Número de Identidad de Extranjero (NIE) is a unique identification number assigned to foreign nationals in Spain. You’ll need it to open a bank account, pay taxes, and sign property contracts. Obtaining an NIE is one of the first steps you’ll take when buying property, and it can be done at a Spanish consulate in your home country or locally at a national police station. Marena Murray Property can help guide you through this process, ensuring your documentation is completed correctly.

Step 2: Understand the Property Purchase Costs

Buying property in Spain involves a variety of costs beyond the listed price. Some of these include:

• Property Transfer Tax (Impuesto de Transmisiones Patrimoniales, ITP): Typically ranges from 6-10% of the property price, depending on the region.
• Legal Fees: Hiring a reputable lawyer is essential. Legal fees usually range from 1-2% of the property price.
• Notary and Land Registry Fees: These are mandatory fees paid upon signing the deed, often costing between 1,000-3,000 euros.
• VAT and AJD (for New Builds): If you’re purchasing a new build, a 10% VAT (IVA) and a 1.5% stamp duty (AJD) apply.

Understanding these expenses can prevent surprises, allowing you to budget accordingly.

Step 3: Engage a Spanish Lawyer

We recommend hiring an experienced Spanish lawyer who will ensure your purchase is conducted legally and without issues. Your lawyer will handle essential checks such as confirming that the property has a clear title, that there are no outstanding debts, and that it complies with Spanish building regulations. At Marena Murray Property, we can recommend reliable legal experts to make this part of the journey straightforward.

Step 4: Conduct Property Due Diligence

Once your lawyer has checked the property title, it’s important to conduct a property inspection, especially if it’s an older building. Our team at Marena Murray Property can connect you with qualified inspectors to assess the condition of the home, ensuring there are no hidden issues.

Step 5: Sign the Private Contract

Once all due diligence is complete and financing is arranged, both parties will sign a private contract. This agreement details the terms of the sale, the payment structure, and the timeline for completion. At this stage, you will pay a deposit—typically 10% of the purchase price—to secure the property.

Step 6: Finalize the Purchase at the Notary

The final step is signing the public deed at a notary’s office, where the remainder of the payment is completed, and the ownership is transferred to you. Afterward, your lawyer will register the property in your name at the Land Registry, making you the official owner.

Step 7: Settle Local Taxes and Fees

After the purchase, you’ll be required to pay certain taxes, including IBI (Impuesto sobre Bienes Inmuebles), an annual property tax, and community fees if applicable. Marena Murray Property can assist you in understanding your tax obligations, ensuring you meet all legal requirements post-purchase.

Why Choose Marena Murray Property?

With over 30 years of expertise in La Manga Club and the Murcia region, our team has the local knowledge and experience to guide you through the entire property-buying process. From introducing you to the right legal experts to helping you understand each requirement, we are here to make your dream of owning property in Spain a reality.

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