Buyer's Guide
Buying property in Spain
A clear, step-by-step overview for international buyers acquiring a home or investment property on La Palma and across Spain.
Our Fees
La Palma Exklusive does not charge commission to buyers. Our fees are normally paid by the seller, unless agreed otherwise in writing.
- 01
Initial Property Search
We start by understanding your priorities — location, budget, use case and timeline. From there we curate a shortlist of suitable properties on La Palma, including off-market opportunities where appropriate.
- 02
Viewing and Due Diligence
Viewings can be arranged in person or remotely via video. For each property of interest we gather the key documentation: title deed (escritura), nota simple from the Land Registry, cadastral data, building licences and any community statutes.
- 03
NIE Number
Every foreign buyer requires a Número de Identificación de Extranjero (NIE) — the Spanish tax identification number. It can be requested in Spain or through a Spanish consulate abroad. Your lawyer can apply on your behalf via power of attorney.
- 04
Lawyer / Legal Checks
We strongly recommend appointing an independent Spanish lawyer (abogado), not connected to the seller. Your lawyer verifies clean title, registered debts or mortgages, planning compliance, community fees and the property's legal status before any money is committed.
- 05
Reservation or Option Agreement
Once a property is selected, a reservation contract typically takes it off the market for a defined period (often 2–4 weeks) against a small deposit. Alternatively, an option-to-purchase agreement can secure longer exclusivity.
- 06
Private Purchase Contract
The contrato de arras privado sets out the final price, completion date and conditions. A deposit of approximately 10% is normally paid at this stage. If the buyer withdraws, the deposit is forfeited; if the seller withdraws, they typically owe double.
- 07
Notary Completion
Completion takes place before a Spanish notary (notario), who witnesses the signing of the public deed (escritura pública). The balance is paid, keys are handed over, and the deed is then submitted to the Land Registry for inscription in your name.
- 08
Taxes and Purchase Costs
Budget approximately 10–13% of the purchase price for taxes and fees. For resale properties this typically includes ITP (transfer tax, 6.5% in the Canary Islands), notary and registry fees, and legal fees. New-build properties are subject to IGIC and stamp duty instead of ITP. Your lawyer will provide a precise calculation.
- 09
Utilities and Post-Completion
After completion we assist with transferring utilities (water, electricity, internet), setting up direct debits for local taxes (IBI) and community fees, and — where relevant — registering for non-resident income tax declarations.
Have a question about a specific property?
We are happy to walk you through the process personally — in English, German or Spanish.
Disclaimer
This page is for general information only and does not replace independent legal or tax advice. Tax rates, procedures and requirements may change and can vary depending on your personal circumstances. Always consult a qualified Spanish lawyer and tax advisor before entering into any transaction.