The Spanish Property Purchase Process: Every Step Explained

Step 1: Obtain Your NIE (2-6 weeks)

The NIE is required for any financial transaction in Spain. Cost: approximately EUR 12 government fee.

Step 2: Open a Spanish Bank Account (1-2 weeks)

Step 3: Reservation (1 day)

Reservation deposit: EUR 3,000-10,000.

Step 4: Due Diligence (2-4 weeks)

Nota simple verification, developer licences, bank guarantees.

Step 5: Private Purchase Contract

Payment at contract: 30-50% of purchase price.

Step 6: Construction Period (Off-Plan, 12-24 months)

Step 7: Snagging Inspection

Step 8: Notary Signing (Escritura)

Step 9: Post-Completion (4-8 weeks)

Land Registry, utility connections, insurance, tourist licence.

Total Timeline

Key ready: 6-10 weeks. Off-plan: 18-30 months.

This guide covers the standard new build purchase process. Always seek professional legal advice.