Buying Process

So you’ve found your Costa Casa…..Congratulations! What next?

The Buying Process

  • Place a reservation deposit to take your prospective property off the market. It is recommended that you place this with a reputable law firm.  Once the sellers lawyer has been notified, this will take the property off the market.
  • Your lawyer will then conduct their due diligence on the property to make sure everything is in order i.e  that there are no charges against the property or land and the details within the deeds are correct.
  • You will need to acquire a N.I.E number (Número de Identificación de Extranjero). To obtain this you will need to go to a local police station with an official form and photocopies of your passport. This can be done in person or on your behalf by your lawyer if there is a power of attorney in place.
  • Once you have your N.I.E number then you will be able to open a bank account, this is needed for setting up direct debits for utility bills and community fees.
  • A reservation contract will be drawn up between the two law firms and an agreed date will be set for completion.
  • Funds will need to be transferred into the lawyers client account before this date. If you are transferring from outside of Spain this can be done by an FX firm which will be cheaper than transferring from the bank. There are many companies of this kind (our recommendation is “Smart Currency).
  • The completion will take place in front of a notary public and keys will be passed to yourself or your lawyer. We will be there to hold your hand every step of the way if required.

Congratulations again you are now a proud owner of a “Costa Casa”…property in Spain.

Additional costs.

Purchase Tax 8% for resales or 10% for new build properties.
Stamp duty 1%.
Lawyers and Notary fees which vary from property to property.
A general rule of thumb is to take into consideration an extra 10%-13% of the purchase price.


For a resident the bank will loan up to 80% and for non-resident up to 70% of the purchase price.
Estimated costs with getting a mortgage is Spain vary between 3.5% and 4%. This is for bank opening fees, stamp duty, notary, land registry and bank administrator.
Again My Costa Casa will be there to hold your hand through this process if required.