With this wonderful weather all year round, owning a home is certainly an attractive proposition, but where do you start? There is a lot of information on the Internet these days about buying property in Spain. Unfortunately, this can lead to confusion and can be a bit overwhelming. This article aims to help clear up some of the confusion and provide six clear steps on how to buy a home in Spain.

1. Independent lawyer

At Abaco Advisers, we encourage potential property buyers to contact us as soon as they decide to purchase a property in Spain. We have years of experience to answer any questions or clarify any doubts that arise. It prepares the potential buyer well when they actually come to Spain and start looking at properties. We are ready to offer our services as soon as they find their property.

2. Legal control of real estate and contract

The legal inspection of the property is carried out by our legal team. It is supervised by one of the eight lawyers employed at Abaco Advisers. This is an extensive inspection that we conduct before the property changes hands. It gives the buyer peace of mind before making a deposit or signing any binding contract. This check is very important because it establishes who the real owners of the property are and whether they are legally authorized to sell the property. It checks if there are any outstanding debts or fees that should be forgiven before the property changes hands. The legal inspection we perform also takes into account planning issues. This is to ensure that structures such as a swimming pool, a building economic or glazed balcony have legal permission to build.

3. NIE and bank account

We have completed our inspections and the property has received the green light from our legal team. We are on track to purchase the house in Spain. Now we can prepare the contract that will determine when the property can be sold. This will set the all-important date for the signing of the contract at the notary, which will signal that things are on track. At this time we also confirm the sale price and any other conditions we need to include. Once these have been established, we can obtain an NIE number. The NIE number is a tax number that the government must issue to all foreign purchases. Usually, property buyers obtain this number through a power of attorney. This is a legal document that gives us permission to act on behalf of the client for the rest of the sale. This is one of the things we can help our clients with, both here in Spain and in their home country. Using the power of attorney, we can perform tasks for the client, such as obtaining an NIE number and opening a bank account.

4. Media and foreign exchange

After checking the legal status of the property and setting up the NIE number and bank account, we proceed to check the utilities. This is to make sure that everything is properly connected to the property and that there are no outstanding bills. If there are, the seller must pay them before completing the sale. At this stage, we prepare the final balance and advise our clients on how to send the funds to Spain. Clients often ask us the best way to send money so that we can then refer them to our currency exchange partners for advice.

5. Signing the purchase agreement

This is the big day, the big event. Once the purchase contract is signed, the property becomes your property. This will take place at the notary's office. The notary presides over the transaction, ensuring that the proceedings are legally correct. We will be by your side every step of the way, guiding you through the process and making sure everything goes as expected. This is also the moment when the funds are transferred in exchange for the keys to the property. You can be there in person, or if you have entrusted us with a power of attorney, we will do it on your behalf.

6 Taxes and Spanish Wills

The property is now yours and we are sure that you are enjoying every minute of it. However, our services do not end there. We will help you pay the mandatory annual taxes. They are not particularly expensive, but it is important that you stay on track and make each payment. In addition, we can help you with the process of signing a Spanish will. If you have these two things in mind, you will have absolute peace of mind and the freedom to enjoy your property in the Spanish sun.

The safest way to buy Spanish real estate.

Abaco Advisers is with you every step of the way. We want you to know how to buy a house in Spain. That's why we hope this article showing the step-by-step process we follow has been helpful. If you have additional questions about the process of buying a house in Spain, Spanish taxes or the inheritance process, don't hesitate to contact us and we will offer you a free consultation with no obligation.