First of all we highly recommend to do a proper research and preparation as it is usually done before making a big commitment. We advise that you do a good search about the area that you are planning to purchase your property as well as choose the agency you are going to work with, the one you feel most comfortable with . Thats to our technology it is easy to do all of the above from your country before even coming to Spain you can browse the properties you like and arrange visits for your time in Spain. We do not recommend that you view more than 5⁄6 properties a day as it might make you confused and cloud your judgement.
2. Get your NIE
Obtaining the NIE number is the first step, and in fact one of the most important ones in the first steps of the paper work you will need. The NIE is the ID number you are granted as a foreigner, and it is essential for any kind of economic activity or financial transaction (like buying the property), as well as for registering as the owner of the house. Applying for this number is quite straightforward, and you can do it from abroad (at the Spanish embassy while still in your country of origin) or directly in Spain. There are different types of NIEs, and depending on your plans you will go after one of the following options:
● You must obtain a non-resident NIE if you will purchase the property but won't live in Spain (that is, just visiting the country for that reason) and you are a non-EU citizen.
● A resident NIE if you are going to be in the country for over 183 days per year (and purchase the property during that time), no matter if you are EU or non-EU.
● And, if you are from the EU but will just be in the country for the duration of the purchase, you can get a temporary NIE.
3. Open bank account
Having a Spanish bank account is one of the legal requirements when purchasing a property in Spain. This process requires you fisical presence in order for this to be possible. Once you have your NIE you can directly open an account at your preferred institution, however we suggest doing so in the international banks such as Santanter, BBVA ING and so on . The documents required when opening a bank account:
● Proof of identity (e.g. passport or ID card) is usually asked to be presented in person.
● Number N.I.E
● Proof of Funds / Tax Declarations
In most cases the documents needed for the translation will have to be translated from your language into Spanish by an official legal translator.
4. Negotiation time
Now that you already found your dream house, it is time to agree on a price with the seller. In this process it is very important to You may find this part of the process especially tedious, as Spanish sellers really like to negotiate and push prices up (against your buyer interest). That is when relying on a real estate agent is more beneficial, as she will make the process faster and even negotiate on your behalf.