Steps to buy a house in Spain as a foreigner

Introduction

Spain attracts thousands of international buyers looking for a vacation home or as a retirement destination. But can you buy a property in Spain as a non-resident? Absolutely.

While there are no restrictions on foreigners acquiring property, the administrative workflow differs from other countries. Understanding the procedure beforehand is crucial to avoiding delays and administrative roadblocks. Below, you’ll find a complete guide to help you maneuver the process with confidence and security.

How to buy property in Spain: Preliminary steps

Before viewing villas or apartments, getting the basics in order is essential. The process for international buyers requires specific documentation that you should prepare in advance to streamline the purchase.

1. Get professional advice 

While not mandatory, hiring a specialist is highly recommended. A lawyer or a qualified mortgage broker acts as your representative, guiding you through local laws, taxes, and due diligence. They ensure that buying a house in Spain doesn't become a legal headache, saving you unnecessary travel and administrative stress.

2. Financial viability check

Before you start your search, you need to know your numbers. We recommend starting with our mortgage calculator to estimate your monthly payments. Once you have an estimate, specialized solutions like the HolaBank Mortgage allow you to request a financial viability study remotely. You can upload financial documents in your own language and receive a feasibility response within 72 hours, giving you a clear budget before you negotiate.

3. Obtain the NIE (Foreigner Identity Number)

This is the most critical document. The NIE (Número de Identidad de Extranjero) is a unique personal number required for any significant economic transaction in Spain. You cannot sign the deeds without it. Your lawyer or advisor can manage this for you. 

4. Open a bank account in Spain

To finalize the purchase, pay property taxes, and set up utility bills, you will need a Spanish bank account.

• Online opening: If you reside in one of the 15 eligible Western European countries (such as the UK, Germany, France, etc.), HolaBank allows you to open your account online from your home country .
• In-person: You can also open an account at a branch or via power of attorney. You will need your passport, Tax Identification Number (TIN), and proof of income.

Securing the property and the financing

Once the paperwork is ready, the active phase begins. This is where due diligence becomes vital.

5. Check the property status (Land Registry)

Before signing any agreement, request the Nota Simple from the Land Registry (Registro de la Propiedad). This document confirms who is the real owner and reveals if the property has any outstanding debts or charges. This is a vital step to prevent inheriting someone else’s financial liabilities.

6. Reservation and "Arras" contract

To secure the property, you will typically sign a deposit contract (known as Contrato de Arras) and pay a percentage of the price (usually 10%). Important: This is a binding agreement. If you withdraw from the deal without a valid legal reason, you lose this deposit. If the seller withdraws, they are usually legally required to pay you back double the amount.

7. Mortgage valuation and approval

If you require financing, you must submit the necessary documents to the bank. With HolaBank, you can often provide these in your native language. Simultaneously, the bank will request an official appraisal (tasación) of the property. This independent valuation is required by Spanish legislation, in order to determine the real asset value for mortgage purposes.

The final signature

You are almost there. The final steps involve formalizing the agreement and transferring ownership.

8. Pre-contractual information (FEIN)

The bank will provide you with the European Standardised Information Sheet (FEIN), detailing the binding offer and mortgage conditions. By law, there is a mandatory cooling-off period (generally 10 days; 14 in Catalonia) before you can sign. During this time, you can consult with your notary for free to ensure you fully understand the terms.

9. Signing at the notary

The final step is signing the Public Deed of Sale (Escritura) and the mortgage deed before a Public Notary. This is the moment when the remaining balance is paid, keys are handed over, and you officially become the owner.

Your partner in Spain

Buying a home abroad is a major milestone. To make the transition smoother, HolaBank by CaixaBank offers a specifically designed service for international buyers. It combines digital agility with the personalized support of managers who speak your language. At CaixaBank, we help you turn the dream of living in Spain into a reality.