Purchasing process of a real estate in Spain
1. Signature of the purchasing contract between both participating parties
The signature will depend on the type of the property.
- New construction: the signatory will be the constructor;
- Resale: the signatory will be the former homeowner.
2. Procurement of a NIE Number
The NIE Number (Número de Identificación de Extranjero) is a tax identification number required for the purchase of a real estate in Spain.
It is very easy to obtain. You may acquire it by going to the nearest police station with all your identification documents. You will usually receive your NIE Number directly.
3. Opening a bank account in Spain
Before the signature of the property owner's deed, you must have opened a bank account in Spain. It will be useful and necessary for all transactions and payments during and after the acquisition of the property.
4. Signature of the authentic deed before the notary
If you cannot personally be present, you can give legal authority to your lawyer or legal representative through an acknowledged notarial act. He will therefore be able to verify all transactions and follow all the steps towards the purchasing completion of the property under your name.
5. Property Registration
After the signature, the lawyer will update the property in the cadastre and register the authentic deed (escritura). It represents the most important step of the process.
Remark: We strongly advise you to benefit from a lawyer complete support when choosing to undergo the purchasing process of a real estate in Spain