"Unlocking Our Dream: How We Bought Our Beautiful Apartment in Spain! 🇪🇸✨"

Buying a house in Spain involves obtaining a Spanish tax identification number (NIE), opening a bank account, signing a preliminary contract (contrato de arras), and closing with a notary. Foreigners have the same property rights as residents, but must pay 10-13% in additional taxes and fees, and the process usually takes 6-12 weeks. Key Steps to Buy a Property in Spain Get a NIE Number (Número de Identificación de Extranjero): This is mandatory for any legal transaction in Spain, including buying property, opening a bank account, or signing contracts. Hire an Independent Lawyer: A qualified Spanish property lawyer will conduct due diligence to ensure the property is free of debt, liens, and legal issues. Open a Spanish Bank Account: Necessary for transferring funds, paying fees, and managing mortgage payments. Property Search & Offer: Search for properties, check land registry records (Nota Simple), and make an offer. Sign the Contrato de Arras (Deposit Contract): This legally binds you and the seller. A reservation fee (usually 10% of the price) is paid at this stage. Secure Financing: If required, apply for a mortgage. Non-residents can typically borrow up to 60-70% of the property value, while residents may get up to 80%. Sign the Escritura (Public Deed): Sign the final deed at the notary's office to officially transfer ownership. Pay Taxes and Register: Pay property transfer taxes (or VAT for new builds) and register the property in the new owner's name at the Land Registry. Important Considerations Costs: Budget an extra 10-13% of the purchase price for taxes, notary fees, legal fees, and land registry fees. Taxes: Property transfer tax (ITP) varies by region, which is usually between 6-10%. For new builds, IVA (VAT) is typically 10%, plus stamp duty (AJD). Foreigners Buying: Non-EU citizens have no restrictions on purchasing, but they may need to apply for a visa for long-term stays. The idea for this video came from @sa-ma_7795 We bought our apartment from Solvia, whose website is https://www.solvia.es/