How To Buy A House In Spain (Step-by-Step Guide)
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- Опубликовано: 28 июн 2024
- Does the thought of buying a house in Spain overwhelm you? Contracts, bureaucracy, estate agents... and all in Spanish? Well we just bought a place in Madrid and went through all of that. And in this video we break down the process of actually buying a house in Spain step-by-step so you can see that it's not all that scary!
This is part 2 of our Buy a House in Spain series. Watch part 1 (where we help you find understand the process of finding your dream home) here • How To Find Your Dream...
🏡 Click this link to download my Spanish House Buyer's checklist swiy.io/SpainHouseChecklist
So... Venga, let’s go. 🥝
00:00 Intro
2:25 How long does it take to buy a property in Spain?
2:49 Extra steps for non-residents
4:58 The negotiation process
6:40 How to get a mortgage
9:30 Extras fees to take into account
11:53 All the key documents
14:09 Contrato de reserva (aka Reservation Contract)
15:02 Contrato de arras (aka Deposit Agreement)
17:43 Tasación (aka Official Valuation)
19:20 The notary
20:16 Sign the escritura de compraventa (aka Deed of Sale)
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==== WHO ARE WE? ====
Hola, Spain lovers! We're James and Yoly. James is a New Zealander, and Yoly is from Spain. We both live in Madrid. Our channel gives you a local insight into life in Spain and helps you experience this country like a local when you come to live (or visit!).
If that sounds like your kind of thing, bienvenid@!I
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Thank you. A clear and relaxing presentation of the roadmap to buying. You are both super!
Glad it helped!
@@spainrevealed Fue estupendo ! Me encanto
Excellent video of the ups and downs of buying a house.
Thank you for your time putting this together.
Thank you both of you for hard efforts, and for your selfless dedication and concern in helping others surmount what can be a very confusing and daunting process!
Very nice video guys! Im living in the UK and started to think about buying in Spain in some years. Found your video immediately, excellent stuff. Cheers
Very good video on how to buy a house in Spain, very informative, one of the best ones in RUclips related to this topic. A must watch for people looking to buy a property in Spain.
James you have excellent idea what to blog. Please add new idea how to buy new and used car in Spain and health insurance.
Will do!
great idea!
Yes, please!!! This information is desperately needed - it would be good if you could include info on how to get a drivers license in Spain - it may need to be a separate video? Gracias, chicos.
I'm doing my property search in Barcelona right now and your list confirms everything I found in my previous research. Thanks!
Thank you for this video!! I def going to buy a house in Spain and these videos are really helping me understand the process and the funds that are needed to complete it. Love your videos, the checklist is awesome, and can't wait to see more videos from you two!!
Thank you soooooo much. This is the most helpful video on home buying that we've ever seen!
Yo gracias a Dios ya tengo 2 casas en España y aunque este vídeo no me es muy necesario os he visto con mucha atención porque no me pierdo ningún vídeo vuestro. Un abrazo y muchas gracias por vuestro canal que me entretiene tanto.
Congratulations on your new place! We love Spain and go at least once a year. Had to cancel this year's plans due to COVID, but we'll be back in 2021!
Top notch video, Very well explained, Thanks guys
Excellent. Fascinating that the lawyer and notary do different things and that completion of the deal is still done in person.
Yes there were a lot of people in that room when we signed!
Spain Revealed - James Blick that used to be how it was in the UK but they move to completing transactions by post before I started. I feel I missed out on something!
Just have to buy a Spanish home 🤣
I just stumbled upon your video by chance and I have to say you have conveyed the processes brilliantly! Thank you!
We are in process of buying a flat in Barcelona. Your guide has been of great use to us.! Thank you for your detailed content and guide.!
Súper interesante! Tengo ganas de ver muchos videos donde explorais vuestro nuevo barrio👍
You clarified so much the process. It looks me not so hard to buy a house in Spain. We’re considering it for the next year. we actually live in Dublin and we’d love having our place in the sun. Thank you for all information. 🙏🏻👏🏻
Everyone who lives in Dublin dreams of sun.
Very informative and detailed... Thank you both!!!
Hello James and yoly,(when i was 22 I used to go out with a 17 year old kiwi girl from Hamilton ) My dad and I look forward to watching your videos, I've had a love for Spain and the Spanish people which goes way back to the early 1970's when I was 12 or 13 when one of our school teachers brought a large home made tortilla and some castanets into class, Told us stories about cristobal colon and don Quixote, fell even more in love with Spain when I first visited andalucia back in 1983 when i was 22, especially my beloved axarquia region. My dad and I have had plans to emigrate but over the past 2 years things have gone down hill with the sad loss of my mother, my soulmate, September 2018. March 2019 my dad ( who's 92 on the September 25th 2020) and I were in the axarquia for 3 weeks looking at properties, I don't need maps or sat navs, the number of local people we met and got to know in our 3 weeks was unbelievable, even the local football club UD TORRE DEL MAR who are doing great things in the local community, and have had their 3rd promotion in 3 seasons I've been in touch with many times, my father and I even went to the local derby when we were there against Algarrobo. We came back from Spain end of March 2019 and my dad ended up in hospital for a month, then we've had for the past year or so a problem with our semi detached here in the UK, insurance job, work just finished 2 weeks ago beginning of September 2020, ad covid-19 into the mix the deposits on Spanish property, it looks like were going to be stuck here for the forseeable future, I was hoping to be over there and settled in before my 60th birthday January 2021. But it looks like I'm stuck here with my Memries Spanish app for my very rusty Spanish, in one ear and out the other over the years. Street view, and the local Spanish papers online, I know everyone and everything that's going on in the region more than I do in my cold wet north east England. Best wishes to you both from my dad HARRY and I.
Such useful information. Thank you! Please keep posting more about this subject as well. Thank you.
Will do Frank!
Sorry, I took so long to watch but wow, amazing work you two!!! THANK YOU!!!
Thanks James and Yoly, love your up beat vids full of great meaty info. I also love the humour and delivery methods. 🙂 Lesley.
New subscriber here. You have no idea how imperative your provided information is. I absolutely love it, this is my second content on your channel I watched. Clicking next, then a next...then a next. I am looking properties in Spain as we speak. Thank you so much 🤗🙏🏻👍
Tou two are wonderful,helpful and honest
Love the way you decorate the house
Great video! Certainly is a lot to understand when purchasing a house in Spain. Excellent idea you plan to do more of these types of videos.
Thank you! So helpful! Looking forward to hearing about how to go about finding a contractor for renovations. Also, please include what you looked for inside the apartment (i.e. insulation, double-paned windows? anything about the floors, etc. The pipe advice was great.)
Heyyy Guys , Am trying to get this house / buy ,, down here in Algeceras, from Miami US Mi Real Estate agent down here is saying to pay the transaction through my bank in US ( as not is not a loan ) straight to the the SELLER , along with their fee's ( which is a few more grand! ) this is the day before we go to the NOTERY is thiAt right!? suppose to be signing next week . Isn't that what the Notery's for ? ( It's not a Morgage ) ✌🏼🌟🌟 by the ways you too are Stars 😮
Great video! We are moving to Spain in November and this will definitely come in handy. Love your channel!!
I'm glad!
you guys are amazing. thanks for the accurate info... will keep watching the next vid
Just in a process buying a house in Spain (Murcia Region). We are a German/Norwegian couple currently residing in Germany, but intending to move. Regarding mortgages i encountered some problems doing that from outside Spain. You might be able to navigate yourself through the websites without much knowledge of Spanish (thanks to Google Translate) but if you put your contact information in there you almost always need a Spanish phone number. It is not even possible most of the time to put in another (just tried in iahorro for example). Second, if they call you back you do have to have at least a basic understanding of Spanish (unfortunately we are not there yet) because they rarely speak much English (or a willing to). So, best way is to have a lawyer down there which can act as a relay for that kind of stuff or just does it for you. By the way Much Thanks for that video and your channel. Found it extremely helpful.
Thank you for that feedback. Good luck with the process!
Hey hey im from Germany too and i would love to buy a house there too - how is your process so far any updates ? I would be happy to hear from you - ggf können wir uns auch auf deutsch austauschen
@@chrisanthony030 Hat soweit geklappt. Hatten einen guten spanischen Anwalt welche das ganze für uns geregelt hat
@@lucius1976 wow also habt ihr euch ein Haus kaufen können ?
Kann ich mit euch Kontakt aufnehmen und euch ganz viele Fragen stellen ? 😄
Würde mich sehr freuen
Ganz liebe Grüße
This is exactly what I wanted to see. Thank you. So detailed and informative. e.g. I had no idea about being liable for 3 years of debt on a property. I'm not going to be in a position to buy until 2022 but the video and the checklist are a very useful resource.
Glad they're helpful Paul! and yes, check those debts!
2022? Wow now that’s long term planning considering the world situation.
Great Video! Getting a general overview by yourself of everything you have to take into account resulted to be not that easy! As I am eager to buy my own property this or next year in Madrid....Thanks a lot guys!
Hola,
This is best and most informative video ever without any doubt!
I am on the mission to make those steps fingers crossed in few years. You guys are amazing. God Bless, Saludos 🙏🏼😊
I’m happy to hear the Spanish like negotiating, I’ve got this coming up this week.
Brilliant, informative and presented with such enthusiasm.
Can't wait to see your home too 😊
Good luck and I hope you have wonderful times in your new abode. Disfruta
Great informative video on a step by step process of buying a house 🏡 in Spain 🇪🇸.
Great Video guys, thanks v much 👍. We’re looking to buy in Spain at the end of the year. Mucho amor desde UK 🇬🇧
I am so glad we went with a lawyer and a 'personal shopper' on our purchase. They negotiated for the seller to cover the ITP, which was more than triple what I paid for their services. So, they paid for themselves, and then some.
One part of the process that was nervous-making, but worked out well in the end: We were back in the US, before the first IBI tax bill was due. We traveled back, hoping it would be in our mailbox, but it had not arrived. So, we took our identification and related paperwork to the local office. When we arrived, I asked whether we might get help in English and were told "No." So, I figured I would get by with my limited Spanish and some help from Google Translate. When our turn came, the woman who helped us spoke English pretty well and was pleased to be able to practice, and a supervisor who overheard us speaking in English came by to assist as well. Since then, the IBI is paid by direct deposit.
Great video! Very helpful! Thank you!
Thank you for the information. Great video!
Thank you so much this video is so helpful looking to move there next hear, definitely your biggest fan all the way from South Africa!
Muchas gracias for sharing 🙏 congratulations to your new home and stay safe 🙏
Thanks James & Yoli! We have been researching and laying out our plans to move to Spain the past year or so. We've obtained our NIE number (as we are not EU citizens, yet), met with a couple of estate agents last time in Barcelona (March feels like years ago, now), and have been regulars on the sites that you mentioned, so we were very excited to come across your latest vid. Thank you for sharing your insight and knowledge with us. Gracias chicos.
Good luck!!
Wow, great info and congratulations on your new home!
Very detailed! Thank you :)
Información muy útil. Thank you for the valuable information!
Great as always.
Add one about what to do after buying a house:
Mudanza
Agua
Dispositivos antical y de osmosis inversa si el agua es de la costa - muy dura -
Gas
Luz
Combinados energía
Autoconsumo fotovoltaica y termosolar
Aire acondicionado
Telecomunicaciones
Very Helpful ...and relevant
Very useful video - thank you! ❤
Excellent video.... in the US (or at least in the state I live ) the roll of the Notary is done by a “Title Company”. They do the same function. The one difference is nowadays the money is normally transferred electronically. The buyers bank will transfer the money for the purchase price plus fees to the Title Company who the the transfer the money to the seller & and pays all the fees. The fees are called “closing costs”. Normally the seller pays the majority of the closing costs but the purchaser also pays some as well. The amount of closing costs can be part of the negotiation process.
Great job James and Yoly!
Thank you!
thanks for this video, it really helps a lot !
Thank you guys, very useful video
Mucha gracias.A very informative video
Oh man 1.6% interest! That’s awesome!!
👍👍👍💖💖💖 thank you y muchas gracias. This video just come up on time 🎉🎉🎉
A great information indeed 👍
thank u very much !!! love from Canada
Thank you guys. Very useful info. Good luck with your new house 🍷🍷💞 You are such a lovely couple. Ksssss
Thanks a lot guys!
Thank you so much for the most valuable information you guys shared. I love to experience the lifestyle spain has to offet. Maybe in the future 😍
realy really great video!!
Hey, James, We did like this video and the info, thank you, but my wife, she was expecting "The Tour" of your new home. well, thank you and Saludos!
Congratulations !! on your new home ... Muchas felicidades y bendiciones!
A very useful vídeo. Next year we hope to buy our house.
Love u 2, Congrats on ur new home 🏡 🥰
Congratulations to you both.
Excellent video! Very clear! Thank you very much! Could you please make another video on the running costs and taxes that you have to pay for the property. I heard that there are some traps especially if you are a non-resident owner. Thanks, guys! Love your videos! Looking forward for the next one! Cheers! :)
It's on the list!
Excellent! Please do one of your apt. renovation, the process with the city, if you had to get a permission from the comunidad, the contractor/builder or handyman, how long it took, etc. Thank you!!!
Great content. Great.
Thanks guys in process now eRly stages bloody hard work will get through more vids
Devon oh buying in canaries
Hello within the next 3 years when I finish university my long term boyfriend and I are wanting to get a holiday home in south east Spain near his family home. I found this really helpful so thank you so much
Hello how are you doing, my name is josh mark and you?
Enjoy your home I hope you can be very happy there and now let’s travel the country I’m waiting for your videos 😻
Finally, just wanted to agree regarding the bad experience with Idealista’s mortgage search. Lots of talk but never got any responses from the banks. I then used Hipotecas.com and I got something like 5 offers within a week.
Good to know
Very informative. Yoly, I love that dress! Great color for you
Yoly says thank you!
Thank you for sharing this
Great video, chicos!!! This is a very comprehensive video for those who (of us) have no idea how to buy a house in Spain. A couple of questions: (1) What is the official name of the person who assesses the value of the home (the "tasación) (2) How does one find that person? Are they listed online somewhere? (3) Did I read somewhere (or see it in one of your videos) that persons older than 60 can't get a mortgage in Spain? (I think I recall hearing about that somewhere). Muchas gracias!!!
Well helpful thanks
THANKS for sharing
Great video. Very precise and reflects my exact experience.
The next video - what happens once you’ve paid off your mortgage in Spain?
I’m currently wading that part and have forced the issue with the bank to have a meeting to release the charge on the deed.
Thank you so much moving to retire in Spain in 2022
The term "earnest money" is used in the US for the money you deposit in an escrow account once you offer is accepted by the seller. The escrow agent makes sure the title is valid, collects all the money, pays all the debts, fees, and taxes, and creates and registers the deed.
Great video, will help a lot. And don't forget to get a loan promise from the bank before start bidding on any property's.
Aprecio muchisimo su esfuerzo en explicar todos los detalles. Muchisimas gracias y enhorabuena!
Very informative guys - keep up the good work! I'm a Spanish citizen currently living in London and I'm planning to buy a rental property in Lanzarote. Is there a separate process for acquiring mortgage in my situation or will I be considered a non-resident and need to pay 50% down payment?
Such a fab video, not much different from the uk. As a budding landlord it’s very helpful ✌️😁✌️
Thank you so much to all three of you that was very useful. Please do some research on prospects of farmland 😊 locations prospects with an eye to emerging tourist attraction near among moumitains
Me alegro mucho por vuestro nuevo nido y esto de las hipotecas con tantos actores de por medio es como un matrimonio arreglado con un novio y familia que solo te quiere por interés monetario, obvio. Nosotros ya lo tenemos pagado pero nos toca lo intenso de las obras que algún dia llegará, la cuarentena nos fastidió el plan, pero lo retomaremos lo antes posible. Muy chulos vuestros vídeos, saludos desde Barcelona!
Thank you for the video. Very interesting.
I was surprised that it takes up to 3 months to get a mortgage approval.
Here is Canada you have 5 days to get a Mortgage after the agreement is signed and it usually the banks approve your mortgage application in 2 or 3 days.
Thank you so much for this awesome video!! It is super helpful. Could you please create a video to show how do you research a city? A cities' area, economy and how much to forecast. Please share the links any companies that support the research. Muchas gracias! Happy new year!
Hello how are you doing?
Hello, I am a girl from Spain, specifically I live in Galicia on the north coast, I live in a fishing and tourist town (especially in summer) right in front, separated by the sea, is the city of Vigo, quite large and also quite touristy, the usual conveyance is by passenger ship :) people go to work or shopping every day by boat (and on weekends to party) it's about 20 minutes by sea, and about half an hour by car or bus. I myself consider in the future, acquiring a property in a country where the currency is cheaper and I was thinking how much I would value having someone there, to be able to take the step without fear, someone I can trust, to talk to owners , translate, be honest, check that everything is correct, send me photos, and any other management. So here I am offering myself for the same job in case someone decides to buy around here, in Vigo, Cangas do Morrazo, or some other nearby city here in Galicia. If you need me, just reply to this message or send me an email to: tresrojo@gmail.com and we can talk about what you need. I'll be watching! Thank you very much and good luck in any case!
Excellent overview, thank you! We are eager to see what, if any, annual expenses there are.
Will do a video on this!
@@spainrevealed ¡Qué guay, gracias!
I'd love to see more video about buying house in spain
Thanks!
You're welcome!
Love you James
Nice video, and informative. Thanks for sharing. In what neighbourhood is that pricing of your flat?
Very informative video, I was wondering if the flat in your case is a freehold or leasehold, or maybe it is regulated differently? For example in UK when buying a flat most likely it will be leasehold one and you know how many years is left.
Hello guys! Really enjoying your videos! Would you recommend investment to buy an apartment for rental?
I’m since always (even before Covid Pandemic) a bit scared with Spanish Economy.
Thank you!
Great video!! Thanks!!
I got a question, can the deed signing be done remotely from abroad or do you have to be there in person?
Thanks
Dear James and Yoli , your explanation was flawless. I want to add a different situation that happened to me. My first property in Madrid was an investment for rental purposes with very high yield. I am a non resident, I am Argentinian ,and I bought without mortgage and so it generated a Spanish income .The bank offered me 20 percent upfront in the next property and 80 percent mortgage as a local. According to the Bank, and I don’t know if it is fully correct, mortgages are since June 2019 offered to foreigner only if they have a Spanish source of income. We could check.
Hmm interesting. I haven’t heard that
Great and very informative video.
Could you please tell me (or post) where I can find the link for the checklist?
For some reason I wasn't able to find this link and it would be very helpful for me to have it.
Thank you very much and keep it up.
any advice on then renting the place out to tenants while you are paying off your mortgage? thanks! this was awesome