Many German citizens fulfill their dream of owning their own property in Spain. To ensure that this does not turn into a nightmare, the interested buyer should consider a few special features.

In contrast to German law, the conclusion of a private purchase contract (contrato privado) and the transfer of the property are sufficient for the acquisition of ownership of a property in Spain.

However, a notarized purchase contract (escritura pública de compraventa) should always be concluded so that you can be entered as the owner in the Spanish property register (registro de la propiedad), similar to the German land registry.

Before the notarized purchase contract can be concluded, you should thoroughly check all documents relating to the property. It makes a difference whether it is a second-hand house, a second-hand apartment or a new build.

Before signing the purchase contract, the interested party should obtain a Spanish land register extract (nota simple informativa). This can be used to check who is registered as the owner of the property in the land register and whether the property details (m2, number of rooms, location, size of the pool, size of the terraces) are correct and whether there are any encumbrances in rem (mortgages, rights of way, residential rights, etc.).

In many cases, the interested buyer is offered the conclusion of a so-called purchase option contract. This gives the buyer the opportunity to "reserve" the property in return for payment of an option premium (in practice up to 10% of the purchase price). If the option buyer decides in favor of the property and purchases the property within a period agreed by the parties, the option premium is usually offset against the purchase price. However, if this period expires for reasons for which the buyer is responsible, the buyer loses the down payment to the seller. If, on the other hand, the seller allows this period to elapse or sells the property to a third party, it is usually stipulated that the seller must repay the down payment to the buyer together with a compensation amount equal to the down payment (i.e. double the down payment amount).

Before signing such a purchase option contract, the buyer should examine it in detail, as in most cases he is making an unsecured advance payment with the payment of the reservation contract. 

After signing the notarized purchase contract before a Spanish notary, the buyer must pay the corresponding property transfer tax and re-register the utilities. In order to pay the tax, the purchaser will always need the foreigner identification number (NIE number). A purchaser resident in Germany can apply for this at the relevant Spanish Consulate General. 

If you are interested in purchasing a property in Spain, we will be happy to assist you right from the start so that the details of the property can be checked and the notarized purchase contract can be prepared so that you are ultimately the owner of the property in the Spanish land register. We will explain the process to you and prepare the purchase of the property for you.

We can also advise and represent you in the sale of your property in Spain. We support you as an individual, but also as a co-owner, as a community of heirs or entrepreneur in the sale of your property in Spain. If the documents required for the sale are missing, we will obtain them for you so that the notarized purchase contract in Spain can be prepared.