Pitfalls to avoid when buying property in Spain

Buying property in Spain is an excellent opportunity... but beware of costly mistakes!

Many foreign buyers find themselves facing obstacles they hadn't anticipated.

As a specialist in providing advice and support for property purchases in Spain, I regularly find that my clients are confused by the specificities of Spanish real estate law.

Here are the most common pitfalls... and how to avoid them.

1. Wasting time trying to do everything yourself

It's essential to define your criteria before you even start looking for a property. Buying property in Spain can be complex, which is why it's highly recommended to call on the services of an independent real estate expert.

Proper preparation is the key to a successful purchase!

💡 Solution : Contact OPENNESS by Carlota to target your project right from the start.

2. Not checking the legality of the property

👉 Some properties have planning irregularities (undeclared extensions, lack of planning permission, etc.). Before buying, it's essential to check..:

• Legal status in the land register and at the town hall= Nota Simple
• La cédula de habitabilidad (habitability certificate)
• No debts on the property
• Energy diagnostics

⚠️ In Spain, it's up to the buyer to validate all legal and urban planning aspects. The notary ("notario") is only there to authenticate, not to advise. de valider tous les aspects juridiques et urbanistiques. Le notaire (« notario ») n’est là que pour authentifier, pas pour conseiller.

💡 Solution : Have your own independent lawyer - don't settle for the real estate agent's. OPENNESS verifies that the property complies with standards with its independent lawyers.

3. Underestimating taxation and hidden costs

👉 In addition to the purchase price, there are other costs to consider:

• Taxes (ITP, VAT, capital gains tax)
• Notary and registration fees
• Property tax (IBI) and condominium charges

💡 Solution : Anticipate all these costs with an expert to avoid surprises and buy with peace of mind and no surprise costs.

4. Inaccurate assessment of financing

👉 Spanish banks often require a substantial downpayment, especially for non-residents. Many are unaware of mortgage conditions before committing themselves. apport conséquent, surtout pour les non-résidents. Beaucoup ignorent les conditions des prêts hypothécaires avant de s’engager.

💡 Solution : Assess your borrowing capacity from the outset. Suspensive clauses are rare. Talk to a broker like OPENNESS, who is familiar with Spanish and French offers. clauses suspensives sont rares. Parlez avec un courtier comme OPENNESS, qui connaît les offres espagnoles et françaises.

5. Neglect administrative procedures

👉 NIE, bank account, registration with the land registry and town hall, water/electricity/internet subscriptions... each step must be carefully anticipated.

💡 Solution : Leave it to OPENNESS to avoid mistakes and save time. OPENNESS pour éviter les erreurs et gagner du temps.

6. Buying to rent without considering profitability

👉 Too many buyers focus on price without analyzing rental profitability. However, it varies according to: rentabilité locative. Pourtant, elle varie selon :

• Tourism and local demand
• Charges, taxes and local rules
• Rental pressure zones (more regulated) tension locative (plus réglementées)

💡 Solution : Do a profitability study before you buy. The right location is the key!

7. Misunderstanding the sales agreement (Contrato de Arras)

The Spanish contract is more binding than in France:

• Deposit up to 30%
• Rarely a suspensive clause
• Payment: Direct payment to the seller

💡 Solution : Make sure that the "Arras" contract takes your conditions into account, especially the financing.

8. Buying with renovation without planning

👉 Some town halls take longer than others to grant work permits. This can hold up your project. licences travaux. Cela peut bloquer votre projet.

💡 Solution : Check everything before you buy to avoid unpleasant surprises.

👉 👉 Do you want to avoid all these mistakes and make a success of your property purchase in Spain?

OPENNESS BY CARLOTA accompanies you every step of the way, from the first visit to the registration of the property in your name, to secure your investment and optimize your project. I can also intervene during the process if needed!

I can also intervene during the process if needed! en cours de processus si besoin !