Buying a home
should feel exciting.
Not complicated.
Buying property in Barcelona and El Maresme can involve unfamiliar legal, financial and administrative steps, particularly if you are buying from abroad. This guide explains the process from your first search through to receiving the keys.
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Know your numbers
before you search.
Start by defining the areas, property type, size and features that matter most to you.
Your budget needs to cover the purchase price as well as taxes, legal costs and other buying expenses.
If you need a mortgage, speak with lenders early so you understand your likely borrowing capacity before making an offer.
From offer
to agreement.
Once you find the right property, you can make an offer setting out the proposed price and any relevant conditions.
If the seller accepts, the next stage may involve signing a reservation agreement and paying an agreed reservation deposit.
A reservation can temporarily secure the property while the transaction progresses and documentation is reviewed.
The reservation terms should clearly state what happens to the deposit if the transaction does not proceed.
The private deposit contract sets out the agreed purchase price, deposit, completion date and the conditions of the transaction.
A deposit of around 10% is commonly agreed, although the exact amount and contractual consequences depend on the agreement signed.
Your lawyer should review the reservation and arras terms before you commit funds or sign.
Financing?
Get ahead of it.
If you are financing the purchase, the bank will complete its assessment and confirm the final mortgage terms.
You may need to provide proof of income, tax information and additional financial documentation requested by the lender.
The lender will normally require a formal valuation before confirming the final loan amount.
The day the home
becomes yours.
What should you budget
beyond the purchase price?
The taxes payable depend on whether you are buying a resale property or a new-build property, as well as your personal circumstances.
Property Transfer Tax
The general ITP scale in Catalonia is progressive.
Reduced or special rates may apply in certain circumstances.
VAT & Stamp Duty
Buyers should also allow for legal, notary, registration and administrative costs where applicable.
Tax rules can change and individual circumstances may affect the amount payable. Obtain professional tax and legal advice before purchasing.
Know more
before you commit.
Our Property Passport brings together the key information available about a One.Homes property, helping buyers understand the home more clearly before moving forward.
Following completion, the title is submitted to the Land Registry so the change of ownership can be formally recorded.
Once the property is yours, there are several practical matters to organise.
→ Community fees where applicable
→ Annual IBI property tax
→ Insurance and ongoing ownership costs
A few things to organise
before you buy.
Buyers from abroad will generally need a Spanish foreigner identification number for the transaction.
Independent legal advice is strongly recommended, particularly if you are unfamiliar with the Spanish buying process.
If your funds are held in another currency, exchange-rate movements and transfer costs can affect your total purchase cost.
Finding the home
is only part of the process.
We help you understand the property, the area and the process around the purchase, so you can make a better-informed decision before committing.
Chat with us!