1. Get your NIE
The NIE is the tax identification number for foreigners in Spain. You need it to sign, pay taxes and open a bank account. Apply early: appointments can take weeks.
2. Check the paperwork
- Nota simple from the Land Registry: owner and charges such as mortgages or liens.
- Community certificate showing no unpaid fees, and the latest meeting minutes for planned works.
- Energy performance certificate and the last property tax (IBI) receipt.
- The building’s ITE (technical inspection) if it is over 30 years old.
3. Inspect the property
Spain has no mandatory survey for buyers, and bank valuations (tasación) are not inspections. An independent home inspection in Madrid checks damp, cracks, electrics, plumbing, windows and finishes room by room, with a photo report. Do it before signing the arras contract.
4. The arras contract
A private reservation contract with a deposit, usually around 10 %. With the common arras penitenciales, if the buyer pulls out they lose the deposit; if the seller does, they return double.
5. Taxes and costs
- Resale homes: transfer tax (ITP), 6 % general rate in the Madrid region.
- New builds: VAT (generally 10 %) plus stamp duty (AJD).
- Notary, Land Registry, gestoría and valuation if you take a mortgage.
Budget roughly 8–10 % on top of the price.
6. Completion at the notary
The deed (escritura) is signed before a notary, the balance is paid and you receive the keys. Your gestoría then pays the taxes and registers the property in your name.
Home inspection in Madrid from €179 VAT included. Write to us in English through the form.
FAQ
Can non-residents get a mortgage in Spain?
Yes, although banks usually finance a lower percentage than for residents.
Do I need a lawyer?
It is not mandatory, but many foreign buyers hire one to review the contract and documents.
Is a home inspection common in Spain?
Less common than in the UK or US, but increasingly used by buyers who want to know what they are buying.
Can the inspection report be in English?
Ask us when you request your quote.
Timeline in Madrid
| Step | Typical time |
|---|---|
| NIE appointment | Days to weeks |
| Viewings and offer | Weeks |
| Checks and inspection | About a week |
| Arras to completion | 1–3 months |
| Registration after completion | Weeks |
Opening a Spanish bank account
Most buyers open a Spanish account to pay taxes, utilities and community fees by direct debit. Banks will ask for your NIE, passport and proof of income.
Utilities and community
After completion, change the utility contracts to your name, give your details to the community administrator and set up direct debits for IBI and community fees.