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When buying a property in Spain, there are generally two main scenarios:
Although the process differs slightly in each case — mainly regarding legal checks and documents — the overall structure remains similar.
The first step when purchasing a property in Spain is to secure your chosen home with a reservation deposit. This ensures the property is taken off the market and the agreed price is fixed for a set period, typically up to 30 days.
It’s important to have funds readily available during your visit to Spain, as most sellers will not remove the property from the market without a reservation payment. Failing to do so may result in losing your chosen property.
Reservation deposits usually range between €3,000 and €12,000.
When paying the reservation deposit, a reservation contract should be signed by both you (or your representative) and the seller. This document outlines the main terms of the agreement, including:
Please note that the reservation deposit is typically non-refundable, unless specific conditions are agreed upon (e.g. subject to financing approval or property inspection).
Once the reservation contract is signed, your Spanish lawyer will begin all necessary legal checks to confirm that:
Spain operates a Land Registry system, which allows your lawyer to perform detailed searches for your peace of mind.
After these checks, your lawyer will negotiate and prepare the Private Purchase Contract, which formalizes all terms.
At this stage, you will typically pay:
If purchasing off-plan, your lawyer will ensure the developer provides both:
This bank guarantee ensures your money is refunded if the developer fails to complete, goes into liquidation, or significantly delays construction.
After the exchange of contracts, both buyer and seller are legally committed to the purchase at the agreed price. Neither party can withdraw without incurring penalties.
Completion takes place when the Title Deeds (Escritura Pública) are signed before a Spanish Notary Public, and the remaining balance of the purchase price is paid.
The Notary’s role is to verify that all legal requirements have been met, including the payment of taxes.
You do not need to be physically present in Spain to complete the purchase — you can grant Power of Attorney or a verbal mandate to your representative.
If you grant a verbal mandate, you will later need to ratify the purchase before a Notary in Spain or your home country. This step allows your signature to be officially registered at the Land Registry.
Registration of the title deeds typically takes around three months once all documents have been submitted.
After completion, your lawyer will:
Local taxes can be paid conveniently by direct debit from your Spanish bank account.
Для off-plan properties, please note that utilities (electricity, water, etc.) may not be connected immediately. It can take up to four weeks after completion for all services to be activated. Your lawyer can arrange for all utilities to be transferred into your name.
Сайт Transfer Tax (Impuesto sobre Transmisiones Patrimoniales, or ITP) is managed by the Junta de Andalucía and is generally calculated based on the purchase price declared in the Title Deeds.
However, under Article 57.1 of Law 58/2003, the Junta has the authority to reassess the property’s declared value to adjust the tax payable.
They may determine the property’s value using several methods, including:
According to Article 34.1(k) of the same law, taxpayers are entitled to expect that the lowest of these valuations be applied.
However, in practice, the Junta often uses the Cadastral Value coefficient, which usually results in a higher tax amount. Purchasers who receive a complementary tax bill have the right to appeal and request a formal independent valuation of their property — though the cost of this valuation must be borne by the buyer.
If you are planning to purchase a property in Spain, our experienced team at Новый дом Калахонда is here to guide you through every step — from reservation to completion and beyond. Contact us today for professional advice and peace of mind.
