Buying a property in Spain

Buying a property in Spain

alquilamos propiedades costa del solDeciding to buy a property in Spain is an exciting decision that requires time and advice.

There may be some differences in the procedure in Spain from the process in your own country, but it is not complicated. At Wendel Estate we want to ensure you that thanks to our team of professionals you can rest assured that there will be no irregularities in this process.

We have put together a check list that might be helpful to you as a first time buyer, together with information of how we may be of service to you in this process.


Steps to buy your property in Spain



Naturally the first thing is to decide how much money you want to invest in this purchase. As a foreigner buying property in Spain you currently have the possibility of borrowing a maximum of 70% of the purchase price, for Spanish citizens 80%.

If you wish to discuss the possibilities of a mortgage we can put you in touch with our contacts in the most reliable Spanish banks. Being as a large percentage of our clients are Scandinavian, we have made sure we only collaborate with bank contacts who speak both English and Scandinavian languages.



Once you have set your budget, we can start searching for the right property for you. Together we discuss the criteria and wish list you have, such as location, size, condition, setting and purpose of your purchase and we can offer our advise regarding any questions you may have. It is important that your search criteria match the budget you have set in order to be able to find the right property.

Through our networks, we have access to the whole market and that is a large advantage for you as a buyer as you do not need to contact many different real estate agents to maximize the properties available to choose from that suit your needs. We will do a thorough and meticulous scan of the market and put together a selection of properties that is tailor made for you so when you are ready to view, we do not waste your time and show properties not fitting your needs and wishes.

In regards to viewing properties, we understand that our clients who do not live in Spain cannot come here every other week to view houses, so we are happy to do virtual viewings if a property of interest comes on the market at a time you are not here in Spain.

Naturally to most, it is important to view prospective properties in person also, after all it is not only the property that needs to be seen, the surroundings are often equally as important when deciding whether its a fit or not.



When the right property comes along and you wish to buy it, we will go through the whole negotiation process with you until a price is agreed upon and both you and the seller are happy with.

When an offer has been accepted and both parties are ready to proceed, a reservation contract needs to be drawn up and a deposit be placed.



It should always be your lawyer that writes the reservation contract and holds the deposit. We strongly recommend that you have a lawyer who specializes in the property sector, has vast experience and recommendations and can also communicate in different languages. If you do not already have a lawyer, we will be happy to introduce you to our trusted law firm with whom we have a long running collaboration.


Reservation contract

The reservation contract is a signed agreement between the parties in order to reserve the property for a specific period of time during which the attorney conducts Due diligence (see below).

It establishes the basic terms and conditions of the purchase and must be approved and signed by both the buyer and the seller.

This contract should always include:

  • The complete name of the buyer and seller
  • Price of the property
  • Address of the property
  • Date to sign the Private Purchase Agreement (see below)
  • Other conditions related to the specific purchase
  • The deposit amount to reserve the property.



The amount of the deposit varies between 6000 – 10 000 euros, depending on the price of the property. This transfer should always be made to the account of your lawyer and not in anyone elses account.

The reservation deposit is fully refundable in case any legal impediment attached to said property is found.
If you continue with your purchase after Due diligence is done, the deposit will be used towards the purchase price.


Due Diligence

Due Diligence: Your lawyer will make sure that the property is legal to sell, that the seller is the legal owner of the property and that there are no attachments, debts or other legal impediments linked to the property.



To buy a property in Spain you must have a tax ID (NIE, Foreigner Identity Number) in order to open a bank account and pay taxes, legal fees and other utility expenses such as water and electricity. If you do not have a NIE number, your lawyer will help you obtain it.


Private Purchase Contract

This is a contract between the buyer and the seller that will be prepared by your attorney, establishing the terms and conditions of the purchase and will contain:

  • The full names and the identity numbers of the seller and the buyer.
  • Nota Simple of the property in which the seller is recognized as the owner of the property and so has the legal right to sell it.
  • The exact address and dimensions of the property and its characteristics
  • The date of completion and delivery of the keys etc.

The terms and conditions agreed between buyer and seller Upon signing this contract, the buyer pays 10% of the purchase price, minus the deposit already paid. If the buyer withdraws from the purchase during this phase, he will lose the deposit which will go to the seller. If the seller decides to withdraw, he will
be obliged to pay twice the amount of the deposit to the buyer, unless otherwise agreed.


Title deed

The final step in the purchase procedure is completion of the purchase by signing the title deeds and handing over the keys. The date for completion has already been agreed upon between the parties in the Private purchase contract.

The title deed documents are signed in front of a notary public and when this is done, your attorney will register the property in your name. If you are not in Spain for this procedure, we can be present on your behalf.