How to buy a home in Andalucia

Once you have found the desired property the next step would be to make a “Reserva” (deposit) in order to remove it from the market. Under the “Reserva” contract an amount agreed by both parties is signed followed by the corresponding deposit.

The next step involves a more detailed valuation of the house is carried out by qualified personnel to verify its legal status for the process to go ahead.

Second-hand properties

It typically takes an average of 3 weeks if no mortgage is required for financing.

If a mortgage is required, the purchase process will be marked by the times of the chosen bank.

The documentation needed to apply for a mortgage in Spain

Employment contract or Employer’s reference.

DNI/NIE number (You need to apply for a NIE number before buying a Spanish property).

Last 6 months personal bank statements showing pay received and day to day activity.

Copy of a personal credit file and/or annual tax returns.

Copy of passport.

Bank reference.

Purchasing costs in Andalucía

Purchasing costs in Andalucía can be between 10% and 12% depending on the purchase price and the mortgage set up fees.

  • 7% ITP / Transfer tax (second hand)
  • 10% VAT / Transfer tax (new properties and developments)
  • 2% Notary fees & stamps
  • 1% Lawyers
  • 1-3% Mortgage costs