How long does it take to buy property in Spain?

Excited about moving to España?

If you’ve made the decision to relocate, no doubt you’re itching to sign on the dotted line and escape to your new life on the sunshine coast. Who wouldn’t be? The sooner you’re sipping sangria poolside at your private beachfront villa, the better. Right?

The question is, exactly how long does it take to buy property in Spain?

Are you talking days, weeks, months? Is it a lengthy legal process? Or will you be booking plane your one-way plane tickets before you can say ‘¡Hola Costa del Sol!’?

Unfortunately, there isn’t a simple answer to this question.

Depending on the complexity of the purchase, buying a property in the Costa del Sol can take anywhere from just 3-4 weeks to 2-3+ months. And even as an accomplished and experienced real estate agents, it’s almost impossible for us to predict a specific timeframe.

To give you a better idea, here we’ve rounded up some general guidance, on the different stages of the buying process and how long they take on average. Our advice? Plan ahead, try to be organised and seek the help of our experts – here at Bromley Estates Marbella.

A general timeline for buying property in Spain

Stage 1: Find a property in the Costa del Sol

Timeframe: Variable

Identifying your dream property in the Costa del Sol can be an overwhelming and time-consuming task – particularly if you currently live in a different country. Yes, you could find the ‘one’ on your very first day of house hunting. But equally, you could also spend many months searching the market, trying to find a home that ticks the right boxes.

Recruiting the assistance of our real estate agents, here at Bromley Estates, will help.

With fantastic insight into the Costa del Sol – and access to an extensive portfolio of the best villas, apartments and townhouses in the area – we can source homes that fit your requirements and budget. Compiling a shortlist of ‘potentials’ and saving you a lot of time, effort and hassle.

We can also advise on locations, pointing you in the right direction for the kind of lifestyle you have in mind. We can arrange viewings on your behalf – either in-person or virtually – and offer tips and guidance on how to narrow down your options and secure the ideal property for your needs.

Some of these tips can be found in our previous blog – ‘How to find your dream home in the sun’. So be sure to take a look.

Stage 2: Get your NIE (Número de identidad de extranjero­)

Timeframe: 2 weeks

The NIE is a unique tax identification number in Spain, for anyone who isn’t a Spanish citizen. To buy a property in the Costa del Sol – and pay the necessary taxes – you’ll need your own NIE. And you can either apply for this directly in Spain or in your home country at a Spanish Consulate.

Either way, it usually takes about 2 weeks for it to be issued.

Stage 3: Make an offer and sign the reservation contract

Timeframe: 2-8 weeks

Again, when it comes to making an offer on a property, it helps to have the assistance of our experienced real estate agents. We can contact the seller on your behalf, negotiate the price and agree a sale – that meets your budget – as quickly as possible.

The next step is to sign the ‘reservation contract’ – a document that reserves the property for a specified period of time, whilst your chosen lawyer conducts due diligence.

During this period, they will:

• ensure the property is as described and structurally sound
• check the land registry
• ensure appropriate planning permission has been obtained
• perform tax checks and ensure no outstanding debts are attached to the property
• conduct community checks

This typically takes around 10-14 days to complete. However, in some cases (e.g. if the required documentation isn’t readily available), it can take longer.

Stage 4: Arrange a mortgage

Timeframe – 4-6 weeks

Whilst your lawyer is conducting due diligence, if you need a mortgage to buy your property in the Costa del Sol, this is the ideal time to start the application.

Not only will your mortgage application need to be approved, the bank will also need to complete an independent valuation of the property – which can take anywhere from 4 to 6 weeks. Therefore, the sooner you apply, the better.

Before deciding on a mortgage lender, it’s also worth asking exactly how long the application is likely to take – ensuring it fits the timeframe specified in your reservation contract.

Stage 5: Sign the private purchase contract and complete

Timeframe: 1-2 months

Having conducted a full and thorough due diligence, your lawyer will inform you of their findings. And if you still wish to buy, you can move forward with the private purchase contract.

This is simply the contract between you and the seller, which sets out the terms and conditions of the sale, as well as an agreed completion date.

Typically, completion is within 1-2 months of signing the private purchase contract – but this can vary depending on several factors. For example, completion documents will need to be signed by a notary with both the buyer and seller – or their respective representatives – present. So you may need to wait for a time and date when everyone is available.

Off-plan developments may also take longer to reach completion.

Stage 6: Apply for a visa

Timeframe: 2-3 months

Visa applications can be long and complicated – so it’s worth doing a little research into whether a visa is required for your relocation and how long it will take to obtain.

As a consequence of Brexit, UK nationals are now only permitted to spend 90 days in Spain – in any 180 day period. Which means, if you wish to relocate permanently, a visa is essential.

Various types are available, including a non-lucrative visa (which allows you to reside in Spain without working), a work visa, a self-employment visa and the new golden visa – ideal if you plan to buy a property in Spain worth €500,000 or more. But in each case, the application can take as long as 2-3 months – so it’s worth beginning the process as early as possible.

Eager to get started?

If you’re interested in buying a property in Spain, be sure to contact our team.

We have a comprehensive portfolio of properties for sale in the Costa del Sol, with something to suit all needs, preferences and budgets. And by applying both our knowledge of the local area and our experience of the buying process, we can pinpoint your dream home – and ensure you get your hands on the keys as quickly and efficiently as possible.

To begin your house hunting journey with us, simply give us a call on +34 952 939 460 (+44 208 068 7606). Or if you have any questions – about the length of time it takes to buy a home or how we can help – feel free to send an email to info@bromleyestatesmarbella.com. Our goal is to make your dream life in the sun a reality – sooner rather than later – and we’d love to hear from you.