How long does it take to buy a property in Spain?

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How long does the property buying process take in Spain?

Spain is much loved for its slower pace of life, where the culture of mañana, mañana puts things off for another day.

So, it comes as something of a surprise to British home buyers in Spain that buying a property there can be a relatively speedy process compared to the UK.

This summer, Rightmove reported that the average home here now takes 216 days from listing to completion, the longest at this point in the year since its records began. The conveyancing system is under severe strain, and many chains are falling through too.

Yet in Spain, our TV house hunters and recent buyers report conveyancing times of five to 10 weeks from the moment an offer is accepted. Is this how long it typically takes?

The answer is that six to 12 weeks is typical, especially if you are a cash buyer. Taking out a mortgage can add another six weeks or so.

What are the stages of buying a property in Spain?

The standard process is that once an offer is accepted, a reservation agreement takes the property off the market, with a reservation fee of €3,000 to €6,000.

Your lawyer will then carry out the legal checks and due diligence. If you are buying an apartment or relatively modern property on an urbanisation, this can be pretty straightforward, taking between one and six weeks. Rural properties can take a few weeks longer due to more complex legal issues around the land and planning.

You will then sign the private contract with the seller and pay the 10% contract deposit.

The final stage is signing the title deeds at the notary’s office, meaning that the whole process can be done and dusted within two months if the vendor and buyer are both keen to expedite it.

Read our guide to buying property in Spain

How can you speed up buying a property in Spain?

  1. Apply for your NIE (tax number) early. You can save time by getting this organised in advance (ask your lawyer for help), as well as opening a Spanish bank account.

  2. Arrange your finances. Speak to a mortgage adviser if needed and make sure you understand your budget before beginning your property search.

  3. Plan your currency transfers. Talk to A Place in the Sun Currency about transferring funds before you go out to view properties.

  4. Find your lawyer before you start viewings. You can also arrange power of attorney so they can sign the final deeds on your behalf if you don’t have time to fly to Spain for completion.

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