How to buy Property in Spain

All property in Spain should be registered in the Registro de la Propiedad (the land registry), where you can obtain the full details of the owner, the exact size of the property and full details of any mortgages, debts or judgments against the property will normally be registered. Only the persons or company named on the Escritura Publica, the title deed, have the right to sell the property, unless a notarised power of attorney has been given to a third party.When the title deed is signed, you will automatically become the new owner. The final step is to have the ‘Escritura Pública’ registered in the Property Registry Office as soon as possible to prevent a mortgage or other charge being registered against the property, while it is still listed in the name of the seller.

Taxes and Fees

The following are the costs you should include on top of the purchase price when buying property in Spain.

Lawyers/Solicitor’s Fee:
Although it is not compulsory to engage a solicitor, if you are not familiar with the procedure you can appoint your own solicitor. It is important to seek professional advice from a local solicitor (Abogado). Their standard fee for the purchase of a property is 1% of the purchase price plus VAT. Using a non-local solicitor will be more expensive. The Spanish legal system is very different from other European countries and, to avoid misunderstandings, disappointments and possible fraud, it is essential to seek expert professional advice from the beginning.