8 min read
From offer to keys: a realistic timeline
A Spanish purchase has a clear sequence. Knowing it in advance is how you keep the process calm and avoid the two or three places it usually slows down.
Carlos
Architect and Founder, DIEZ
The sequence, in order
A Spanish purchase follows a settled path. An accepted offer leads to a reservation, then to due diligence and a private purchase contract, then to completion at the notary. Each step has a purpose, and each one moves a defined amount of money and risk from one side of the table to the other.
The value of knowing the sequence in advance is not speed for its own sake. It is that you can see where the process is genuinely waiting on something, and where it is simply waiting on a decision. The two feel the same from the outside, and they are not the same at all.
Most delays are not the property's fault. They are the gap between when a step could have started and when it actually did.
What happens, and when
The table below sets out a typical resale, bought without a mortgage or with one arranged in good time. The timings are indicative. A clean title, a responsive seller, and an early start on the lender all pull the total towards the lower end.
| Step | What happens | Typical timing |
|---|---|---|
| Accepted offer | The price and broad terms are agreed verbally or by email. Nothing is yet binding, but the property is understood to be off general circulation while papers are drawn. | Day 0 |
| Reservation contract | A short agreement takes the property off the market for a small deposit, commonly three to six thousand euros or one percent. It fixes the price and sets a window for the next step. | Days 1 to 7 |
| Due diligence | Your lawyer checks title at the Land Registry, outstanding debts and charges, community fees, the licence of first occupation, and planning status. Findings here shape the contract. | 1 to 3 weeks |
| Private purchase contract | The contrato de arras or compraventa is signed and a ten percent deposit is paid. From this point both sides are committed, with defined penalties for withdrawal. | Week 2 to 4 |
| Completion at notary | The balance is paid, the deed (escritura) is signed before a notary, and the keys change hands. The deed is then lodged for registration. | Week 6 to 10 |
On a new build bought from a developer the shape is similar, but the deposit structure and the tax route differ, and completion is tied to the licence of first occupation rather than a resale handover. On a resale, the figures above hold for most transactions we see on the coast.
Where it slows
Two points account for nearly all of the variance in the timeline. Knowing them in advance is how you keep the process calm rather than reactive.
Due diligence findings
Most checks come back clean. The ones that do not tend to involve an unregistered extension, an outstanding charge, an unpaid community levy, or a missing licence of first occupation. None of these are necessarily fatal, but each one needs to be resolved or priced before the private contract is signed, and resolution can add a week or two. This is precisely why the deposit at contract is ten percent and not paid earlier: the contract is where commitment hardens, and you do not want it to harden over an open question.
Mortgage timing
A Spanish mortgage for a non-resident is workable but rarely fast. Valuation, documentation, and the bank's own committee typically add three to six weeks, and lenders move on their own calendar. The single most useful thing a buyer can do is begin the lender conversation the day the offer is accepted, so the approval runs alongside due diligence rather than after it.
- Start the mortgage application before, not after, the private contract.
- Have your NIE (foreigner's identification number) in hand early; it is needed to transact and to open a Spanish account.
- Send proof of funds and source-of-funds papers to your lawyer up front, as the notary and bank will both ask.
- Agree a realistic completion date in the private contract that accounts for the lender, not an optimistic one.
How we keep it moving
The parts of a purchase that can run in parallel almost always should. While the lawyer runs due diligence, the lender process can be under way, the NIE can be in hand, and funds can be positioned. Sequencing these properly is the difference between six weeks and ten.
Our aim is that the trip to sign at the notary is spent confirming a decision, not waiting on one. By the time you sit at the notary's table, every question has an answer and the only thing left is the signature and the keys.
- Reservation contract
- A short agreement that takes the property off the market for a small deposit and fixes the price while due diligence and the main contract are prepared.
- Contrato de arras
- The private purchase contract, usually carrying a ten percent deposit, with defined penalties if either side withdraws. The buyer loses the deposit; the seller typically repays double.
- Escritura
- The public deed of sale, signed before a notary at completion. It is the document that transfers ownership and is lodged at the Land Registry.
- Licence of first occupation
- The municipal certificate confirming a property is legally habitable. Its absence is a common due diligence finding and should be resolved before completion.
- NIE
- The foreigner's identification number, required to buy property, open a bank account, and pay tax in Spain. Best obtained early.
Common questions
Can the whole purchase really be done in six weeks?
Yes, on a clean resale bought without a mortgage, six weeks is realistic and routine. It depends on a clear title, a responsive seller, and your funds and NIE being ready early. The moment a mortgage or a due diligence finding enters the picture, plan for eight to ten weeks instead.
Do I have to be in Spain to complete the purchase?
Not necessarily. You can sign at the notary in person, or grant a power of attorney (poder) to your lawyer to sign on your behalf, which is common for overseas buyers. The power of attorney is itself a short process, so it is best arranged in good time rather than at the last minute.
What happens to my deposit if I pull out?
Under a standard contrato de arras, a buyer who withdraws forfeits the ten percent deposit, and a seller who withdraws typically repays double. This is why due diligence must be complete before that contract is signed. The earlier reservation deposit is smaller and governed by the terms of the reservation agreement.
How much should I budget for costs on top of the price?
Plan for roughly ten to thirteen percent above the purchase price, covering transfer tax or VAT, notary and registry fees, and legal costs. The exact figure depends on whether the property is a resale or a new build and on the region. Your lawyer confirms the precise number for your case before you commit.
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