Purchase real estate in Spain

01 Preparation in your own country

A large selection of “own” properties in Spain and the cooperation with several other respected estate agents makes it possible for us to offer you always a wide range of properties in the price range and region of your choice.

Already in your own country we can inform and advise you on all aspects involved in the purchase of a “second” home in Spain. Through modern media techniques as well as the extensive information on our web page you can start your journey well prepared.

You can also reach us by phone, Facebook, email or through the chat box on our website.
We also have partner offices in various countries which can inform you about the purchase of a property in Spain.

Good communication between you and the estate agent in Spain is very important during the preparations at home.
Tummers Invest is pleased to inform you in advance about the entire purchase procedure, the additional costs, the Spanish tax system and answers all your questions so you can start well prepared for your viewing trip to Spain.

If you wish we can also send you a selection of properties by email that meet your requirements and are within your budget.

Through good communications and personal contact with the customer we get a good idea of what you are exactly looking for and during your visit to Spain we just show you properties which are really interesting for you.

With us you also have the opportunity to view the homes of your choice via a live video connection.
We will then set off for you and when we arrive at the homes of your choice, we will make live contact with you and give you a tour of the object of your choice. Of course you can ask all your questions during this video tour so that you get a good impression of the several properties.

02 Viewings

After a good preparation and a pre-selection of the received properties, now the time has come to actually travel to Spain to visit some objects.

Of course you can arrange this entirely on your own but also in the organization of this trip and the booking of a hotel or apartment during your stay in Spain Tummers Invest can assist you. More information about this can be found under the heading “Inspection Trips” on our website.
The entire tour program will be compiled in close consultation with you.
This can already be done in advance or on arrival in Spain where we again discuss your wishes with you in a personal conversation at our office.

Throughout the whole inspection trip you can expect a personal one to one service, and next to visiting the various objects and the environment in which these objects are located, still there will be enough time for a drink and a snack.

Viewings with Tummers Invest will never happen in groups
We prefer to deal with only one customer at the time through which we can make sufficient time for our customers and guarantee discretion about personal and financial affairs at all times.

Hereby we have sufficient time to visit the objects without any time pressure and to answer all your questions regarding the various objects.

By listening very carefully to the comments of our customers during the viewings it might happen that we slightly adjust the program during the day and with your approval we might go and see some other objects which we think they may also be of interest to you.
Finally, we will make every effort to find the appropriate property for you.

03 Purchase procedure

If, after inspection and negotiate a suitable object in Spain has been found, the following steps are taken.

A distinction is made between the purchase of a resale property or a property in a new construction project.

For resale properties the following applies:

1. At the office of Tummers Invest you sign a reservation contract for this property.
This is accompanied by a symbolic deposit of 3,000 euros.
At that moment we take the property off the market.

2. About 1 week after reservation and after Tummers Invest has invested the entire property in collaboration with a lawyer and there are no problems or debts with this property you will receive by email or post the actual purchase agreement which will be signed by you and by the seller.
This agreement also contains the date of completion etc.
If during this period of approximately 1 week we find out that the property to be purchased has any “problems” or debts, the agreement is terminated and Tummers Invest immediately returns the paid 3,000 euro reservation fee to the buyer.
However, if everything is OK and you signed the contract this will be accompanied by a larger 2nd deposit of 10% of the total purchase price.

The rest of the payments will be made on the day of the final completion in front of the notary when you actually become the new owner of the property.

In the meantime during this procedure we will arrange together with you the application for your NIE number. (Número de Identificación de Extranjero) This is like the public service number in your own country.

Together with you we also open a Spanish bank account on which later in the whole procedure you need to transfer the remaining amount for the purchase of your property in Spain.
In case of a mortgage we arrange the applications and maintain contacts with the bank during your absence.

If it is not possible to actually be present in Spain, all signing of the contracts will be done by e-mail.

On new build properties the following applies:

In principle, the entire procedure for a new-build home is exactly the same as for a used home, with the difference that the payment conditions depend on the relevant builder and the payments are always made directly to the builder.

Payments to the builder always go in phases, depending on how far the construction of your new-build home has progressed and must only be made after verification by us and after confirmation from your lawyer in Spain.

During the entire construction process we will regularly inform you about the progress and regularly send you photos and videos of your new home in Spain.

04 Costs involved in the purchase of your property in Spain

If you like to buy a property in Spain you should keep in mind that the buyer in addition to the purchase price also has to pay some additional costs.

The additional costs of buying a house in Spain which are normally between 12 and 14% of the purchase price can be divided in:

10 % transfer tax

Registration fees in the Spanish registry (registro de la propiedad)

These costs are approximately 0.3% to 0.7% of the purchase price.

Notary fees

These costs depend on the value of the house to buy but are usually between 1% and 2% of the purchase price.

Lawyer fees

If, for the purchase of a property in Spain you want to use the services of an independent lawyer to accompany you throughout the purchase process you should also bring these costs in the calculation of the total price.
The rates of the various lawyer offices are quite different, but overall they are between 1% and 1.5% of the purchase price.

Mortgage fees

If the purchase of your property in Spain will be partly financed by a Spanish mortgage, a separate notarial deed needs to be drawn up which is mentioned in the Spanish registry.
The opening bank costs of the Spanish mortgage are between 1% and 1.5% of the mortgage amount.
The notary and registration and the preparation of all necessary legal papers are about 2.5% of the mortgage amount.

Agency fees

The cost of the broker is always paid by the seller in Spain.
As a buyer you do not need to calculate with this.

“It is essential to include these costs in your budget and be well-informed about the purchasing process before buying real estate in Spain. Tummers Invest is happy to assist you with this and guide you through every step of the procedure.”

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Purchase real estate in Spain TummersInvest Service