The Costa del Sol is one of the most attractive destinations for international buyers. However, acquiring property in Spain involves a series of legal, tax, and administrative procedures that should be carefully reviewed before signing any documents.
As a lawyer specializing in Real Estate Law and fluent in German and English, I guide my international clients through the entire process to ensure a smooth and secure transaction. Below, I explain the most important points to keep in mind.
1. Obtain the NIE (Foreigner Identity Number)
The NIE (Foreigner Identification Number) is mandatory for any transaction with financial implications in Spain, including the purchase and sale of real estate. Without this number, you will not be able to sign documents before a notary or pay the corresponding taxes.
It is advisable to request it in advance to avoid delays in the operation.
2. Prior legal analysis of the property (Due Diligence)
Before signing a reservation or earnest money contract, I conduct a complete legal analysis of the property, which includes:
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Verification of ownership in the Property Registry
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Verification of encumbrances, mortgages or liens
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Urban planning situation and possible infringements
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Match between physical reality, registry and land registry
This step is essential to avoid future legal risks.
3. Reservation contract and earnest money contract
In Spain, it is common practice to sign a contract before the public deed is executed. It is essential to carefully review the terms, deadlines, and penalties.
I am responsible for drafting or reviewing these contracts to protect my clients' interests and ensure that the clauses are clear and balanced.
4. Taxes in the sale
Depending on whether it is a new or second-hand property, the taxes vary:
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Second-hand housing: Property Transfer Tax (ITP)
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New housing: VAT and Documented Legal Acts (AJD)
Furthermore, it is important to analyze the subsequent taxation, especially if the property will be used for rental.
A prior tax study allows for optimizing operations and avoiding unexpected costs.
5. Signing before a notary and subsequent procedures
The sale is formalized through a public deed before a notary. However, the process does not end there.
After signing, I manage:
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Tax settlement
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Registration in the Property Registry
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Changes of ownership in supplies
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Coordination with management companies and banking entities
My goal is to ensure the transaction is completely closed and secure.
Buying a property on the Costa del Sol can be an excellent investment, but it is essential to have specialized legal advice from the start.
If you are thinking of buying a home or making a real estate investment in Spain, I can help you throughout the entire process, in German or English, offering you legal security and close, professional support.