Frequently asked questions about property investment in Spain
Is a foreigner identification number (NIE) required to purchase property in Spain?
Yes. The foreigner identification number (NIE) is essential for completing the procedures related to the acquisition of real estate in Spain. It is required to sign before a notary, pay the taxes and register the transaction. It must therefore be anticipated in the purchase timeline.
What does the Spanish Land Registry allow you to verify?
The Land Registry makes it possible to confirm ownership of the property, the identity of the owner, and the potential existence of charges, mortgages or seizures that may affect it.
What is the statutory 3% withholding on the purchase price?
Where the seller is regarded as non-resident under Spanish tax regulations, the buyer must withhold 3% of the purchase price and pay this amount to the Spanish Tax Administration. This sum operates as an advance payment and may be refunded to the seller once their tax position has been regularised.
Does the Spanish preliminary sale agreement protect the buyer in the event of a mortgage refusal?
No. A preliminary sale agreement in Spain does not usually make the completion of the sale conditional upon obtaining bank financing. It commonly includes a penalty clause that may lead to the loss of the amounts paid if the buyer withdraws.
Is it possible to purchase property in Spain without travelling?
Yes. A power of attorney may be granted to a trusted person to sign the deeds in Spain. The power of attorney must be notarised and a tax representative must be appointed. However, a prior visit to the property remains advisable.
What are the main taxes linked to a property purchase in Spain?
The acquisition typically involves the payment of transfer tax or VAT depending on the nature of the property. Rates vary according to the Autonomous Community. Municipal taxes and additional reporting obligations may also apply depending on the circumstances of the seller and the buyer.
How long does it take to purchase property in Spain?
From the signing of the preliminary sale agreement to final registration with the Land Registry, allow 2 to 4 months on average. The NIE must be anticipated if not already held (1 to 3 weeks depending on consulate). Legal checks with the Land Registry take 24 to 48 hours. The period between preliminary agreement and final deed varies from 30 to 90 days depending on negotiation.
What additional costs should be anticipated beyond the purchase price?
Allow for 10 to 15% of the purchase price in additional costs: transfer tax (6 to 10% depending on Autonomous Community), notary fees (0.5 to 1%), legal fees, Land Registry registration fees, 3% withholding if the seller is non-resident, compulsory home insurance. A precise estimate is prepared before any payment.
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### POINT 3 : Section accompagnement personnalisée (EN)
**Champ H2 :**
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Legal assistance for property acquisition in Spain
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**Champ P (paragraphe) :**
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The firm assists French-speaking buyers at every stage of their property investment in Spain. This assistance secures the transaction, anticipates legal risks and ensures control over the total cost of the operation. The assistance includes verification of ownership and the legal status of the property, calculation of the comprehensive final cost (price, taxes, fees, 3% withholding), preparation and follow-up of the preliminary sale agreement, assistance at the notarial signing with translation where necessary, NIE and tax procedures, and effective registration with the Land Registry. For any property acquisition in Spain, you may contact the firm to describe your project: location, type of property, timeline. An initial analysis identifies the steps to be taken and the legal and tax issues to be aware of.
