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Steps to buy property in Spain

Posted by admin on 28.05.2014
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We must consider that despite all the bad press real estate has been receiving from the media (both Spanish and foreign), the truth is that the Spanish system is very safe and there should not be any problems with the purchase of your property as long as you obtain the appropriate legal advice.

Please find below a short summary of the steps to be followed:

1.-) Once you have found the property you would like to buy you must take into account the following:
1. A) YOU NEED AN NIE: If you are not Spanish and do not have a National Identity Document (DNI) (Documento Nacional de Identidad) you must obtain an NIE Number, (Foreigners Identification Number) required for the payment of taxes in Spain. The Deed (Escritura) of your house will not be granted at the end of the conveyance process without an NIE number. You can apply for your NIE in person at the competent National Police Station.
1.B) YOU WILL NEED A BANK ACCOUNT IN SPAIN: it is important to consider that you may have to pay commissions if you have to send money from your country to Spain, please check all the conditions of the account. This account is needed for household bills, paying taxes, etc.

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