Process of Buying a Property in the Murcia Region

    We will assist you and make sure you are satisfied right through the legal process of buying a property, from start to finish.
    We always advise you to use an independent English speaking lawyer, local to the area in which you are buying. Most buyers choose to give Power of Attorney to their lawyer for the purpose of buying a property. This gives the advantage of the lawyer being able to sign documents on your behalf if you are not present

    To buy a property in Spain you have to have the following:

    • NIE Number (Número de Identidad de Extranjero), which translates as ‘Identification number for foreigners’. This is a fiscal number and can be obtained for you by your lawyer with a photocopy of your passport
    • Spanish Bank Account We will assist you with this or again it can be set up on your behalf, by your lawyer if they have Power of Attorney.

    Resale properties

    Once your offer has been accepted, you pay a small deposit (reservation deposit) which is normally € 3,000 to € 5,000 depending on the price of the property. At this point the property will be taken off the market for a limited period (usually 14 days). This allows time for the lawyer to carry out legal checks and make sure there are no liens on the property and to draw up a contract of sale (Escritura de Compraventa) which includes the following:

    • Selling Price
    • Details of the property
    • The property is sold free of any debt
    • Completion date
    • The amount of the non refundable deposit. The reservation deposit will now become non- refundable and an additional amount may be required by the seller. Once the Purchase Contract is signed, should you default on this contract, you forfeit your deposit. Should the seller default, they must pay you twice the amount of the deposit
    • Any other items requested by the buyers, such as repairs
    • An inventory if the property is sold furnished

    The sale is complete when the Title Deeds are signed at the Notary’s office, either by yourself or on your behalf by the lawyer. The Notary is responsible and ensures all the financial transactions are completed at the time of the sale. Finally the keys to the property are handed over to the buyer


    The buyer pays:

    • 8% I.T.P. (Impuesto de Transmisiones Patrimoniales). Stamp duty and taxes involved on Property Purchase. In Alicante and Valencia Province, this is 10%
    • Notary fees of 0.5 to 1%
    • Land Registry fees around 0.5%
    • Legal fees usually around € 1,200

    The seller pays:

    • PLUSVALIA (Local Capital Gains), However because the seller may leave the country without paying the plusvalia, the notary deducts the amount owing from the sales price and deposits it the buyers account who has 30 days in which to pay it


    The buyer pays:

    • 10% I.V.A. (Spain’s equivalent of VAT) 1,5 % a.j.d. (Actos Jurídicos Documentados).
    • Stamp duty for a new property
    • Notary and property registration fees of about 3 per cent Legal fees (usually between 1 and 2 per cent)


    If you choose to buy with a mortgage, this will incur several additional costs:

    • Property valuation that the mortgage provider will require before granting the mortgage. This is paid for the by the buyer and can cost around 500 Euros
    • The costs of the implementing mortgage. This varies according to the provider, and even according to the particular branch. However there is usually some kind of opening fee of around 1% of the value of the mortgage
    • The mortgage will increase the Notary expenses


    It is advisable to use a specialist currency broker to transfer funds which can give you substantial savings on bank exchange rates. We recommend Foreign Currency Direct