Buying property in Spain

5 steps to becoming landowner in Spain

Having you been thinking about investing into real estate for a long time now? Do you want to have a vacation home in Spain?

We will help all your dreams and ideas come true!

Follow us, and we’ll lead you to the doorstep of your Mediterranean dream, there are only few steps left…

Step 1 - Preparing an offer to match the client’s criteria

You contact your nearest LifeSpain office, either in Spain or in Russia, where one of our specialists will be glad to answer all your questions and advise you on the key moments of the purchasing process and your visit to Spain:

  • You inform us about your wishes regarding the type of property you’d like to buy, location, layout and price range.
  • We analyse this information and prepare several offers that match your criteria. This usually takes one or two days.

The most important thing at this stage for us is to fully understand your specific needs.

If you like our suggested options and you are ready to work with us, it’s time to move on to step 2 — organizing your trip to Spain so that you could actually see the properties.

Step 2 - Organising and preparing your introductory visit

  • As soon as we are sure about the dates, we start preparing your introductory visit to Spain.
  • If you need a visa to Spain, our company can issue a visa invitation in your name or even help you throughout the whole visa application process.
  • Our person will pick you up upon arrival to the airport or railway station and take you to your accommodation.
  • During the next few days, LifeSpain manager will accompany you to the chosen properties as specified in the contract.

In case you like one of the properties you’ve seen, we can turn to step 3 — preparing the declaration of title deal.

Step 3 – Preparing the deal

  • Once you have made your choice, you sign a private buy-sell contract with the proprietor in order to make sure that the property is reserved for you only. Such contract specifies all the parameters of the deal, i.e. price, payment terms, etc., and the buyer makes a deposit of up to 10% of the price. The deposit is non-refundable in case the buyer initiates contract discontinuation.
  • We help you open a Spanish bank account that will be used for all purchase-related payments as well as all further payments (i.e. utility bills). Here is the list of required documents:

    - Your original travel passport;
    - A certificate issued at your workplace that specifies your position, length of employment and monthly salary;
    - Your internal Russian ID (internal passport) specifying your legal residence address;
    - Preliminary buy-sell contract;
    - Standard minimum deposit for opening the account (circa €100);

    This can take up to an hour.

    The next step is applying for your NIE — tax identification number for aliens, which takes up to 7 days. Here are the documents you have to submit:

    - Application form;
    - Valid travel passport with valid visa;
    - One photo 3x4;
    - Return ticket;
    - Bank statement saying you have at least about one third of the final sum on your account;
    - The rest of the documents for your NIE application are prepared by our company;

    The documents should be submitted in the name of the persons who will be later on signing the contract;

  • LifeSpain’s legal department will check the property for debts or encumbrances, all of which have to be liquidated before signing the public title deed;
  • Also, before the title deed is signed, we help you prepare all the documents including those required for mortgage application, if necessary;
  • When all of the above is done, we finally come to the most exciting stage of the process — registering the deal with a notary.

Step 4 – Signing the title deed

  • When all is ready, both parties sign the title deed in the presence of a notary and finalize their financial transaction; you receive the keys — and this marks the moment when you officially become landowner. From now one, you have a right to apply for 1-year landowner visa with the Spanish embassy and start issuing visa invitations for your family and friends.
  • LifeSpain’s legal department forwards the original title deed to the Registro de la Propiedad for registration. You (or the bank, in case of mortgage) receive the registered document (personally or by post) only 2-3 months later.

Step 5 – Manage your property!

If you work with LifeSpain, we don’t abandon you as soon as the deal is finalized and you have received the keys because new landowners usually face certain organizational difficulties.

  • Once you become owner, you can sign a post-sale services contract with us, so that we manage and administer your new property according to your wishes:
    • We can draw, prolong or change contracts with electricity, water, gas, telecommunications and security providers.
    • Registering with the tax authorities.
    • Receiving your official residence registration.
    • Buying insurance.
    • Renting cars, buying railway and air tickets.
    • We can help you buy cars, yachts, etc.
    • Drawing a will or other documents in accordance with the legislation of the Kingdom of Spain.
    • Booking hotel accommodation.
    • Interior design, landscape design.
    • Buying furniture.
    • Making renovations, reconstructions and decorations of any kind.
    • Obtaining record extracts from the Registro de la Propiedad or any other documents and sending them to you by fax or email.
    • Making full or partial mortgage prepayment on behalf of the client.
    • Transfer.
    • Translation/interpretation.
    • Enrolling children in local schools.

This is how the process of buying real estate typically goes. However, if necessary, we can draft an individual plan, taking into account all the specific wishes or requirements you might have concerning any type of property in any part of the country.

High quality service, full information, thorough research when looks for the best options — here is the recipe for success if you choose to work with LifeSpain!