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The steps to acquire a property in Spain are listed below. This is for information purposes and advice should always be taken from a legal professional:


  • Getting a Foreigner Identification Number (N.I.E).

Requests for an N.I.E can be made in person at the Office of Extranjeros in Spain or through a representative with Power of Attorney (such as a Solicitor).


  • Opening a current bank account.  

The buyer must, after obtaining the NIE, open a Bank checking account in Spain. The bank account is required for the accreditation of the means of payment for the buyer purchasing a property, as well as for the payment of successive costs and taxes. For the opening of the current account, the Bank will ask the buyer for the NIE and a valid passport.


  • Signing of the Reserve Contract.

The Reserve Contract is a private contract between the parties whereby, once a buyer has chosen and decided to buy a property, they formalize the agreement on the sale, the sum paid (normally € 3,000) is to remove the house from the market. Then the buyer´s solicitor will check the paperwork for the house (usually between 2-3 weeks) and then the buyer will be asked to pay between 8% and 10% of the total value of the house to formalize a contract of sale.

The Reserve Contract stipulates the deadline for the signing of the deeds at the notary's office, purchase price, distribution of expenses and taxes between buyer and seller. It also explains the consequences of the failure to reach an agreement which is usually the loss of the Reserve amount paid to an account if in the end the buyer fails to commit to the sale and the return of twice the Reserve deposit if the seller fails to commit.


  • Guide to taxes and fees

When you buy a house in Spain the following prices are not included. You should add approximately 10% to the price of the property to cover it. This includes.


a. Solicitor´s fees

They are normally about €1,000 euros, depending on the work required.


b. ITP - Taxes

You have to pay 8% of the value declared in the Deeds (Escritura).


c. Notary charges

Depending on the work involved, between 300 and 600 euros.


d. Land Registry

They can also range between 300 and 600 euros.

Example 1 - property with a selling price of 50,000 euros

  • Solicitor´s Fees 1,000 euros
    • Purchase Tax 8% 4,000 euros
    • Notary fee 300 euros
    • Registration Fee 200 Euros
    • Total cost of ownership, taxes and fees 55,500 euros


Example 2 - property with a selling price of 100,000 euros

  • Solicitor´s Fees 1,000 euros
    • Purchase Tax 8% 8,000 euros
    • Notary fee 400 euros
    • Registration Fee 300 Euros
    • Total cost of ownership, taxes and fees 109,700 euros.


We can help to find the best mortgage for you, with our contacts at local banks or other entities in nearby towns. Just ask for the best mortgage for your property in Almeria, and we are at your disposal.