When buying or selling property in Spain, it’s important to know the different professionals you may need. Each role has a specific job, and while some are mandatory, others are just very helpful to make the process smoother. Below is a breakdown of the most important real estate professionals in Spain.
1. Real Estate Lawyer (Abogado Inmobiliario)
What They Do:
A real estate lawyer in Spain handles legal aspects of property transactions. They ensure that contracts are fair, review all paperwork, check for debts or legal issues with the property, and make sure the sale complies with local laws.
Are they Mandatory?
No, hiring a real estate lawyer is not required by law, but it is highly recommended, especially for non-Spanish speakers and foreign buyers.
Why is Using a Real Estate Lawyer a Good Idea:
They can protect you from legal risks, help you understand the legal jargon, and avoid costly mistakes. They’ll ensure that the property is free from any legal issues, such as debts or boundary disputes.
Cost:
The cost of a real estate lawyer varies, but you can expect to pay around 1% of the property’s purchase price, or a flat fee ranging between €1,500 and €3,000.
2. Real Estate Agent (Agente Inmobiliario)
What They Do:
Real estate agents in Spain help you find the right property or sell your home. They act as middlemen between buyers and sellers, organizing viewings, negotiations, and paperwork.
Are they Mandatory?
No, real estate agents are not required by law, but they make the process much easier.
Why is Using a Real Estate Agent a Good Idea:
Agents have access to the local market and can find properties faster. They also handle negotiations and paperwork, which can save you time and effort. Their experience can help you avoid overpaying or underselling.
Cost:
For sellers, agents typically charge a commission of 5-6% of the sale price. For buyers, there’s no direct cost as the seller pays the agent, though you might find the seller ask you to pay or split the costs, watch out for this before signing anything.
3. Mortgage Broker (Intermediario Hipotecario)
What They Do:
A mortgage broker helps you find and secure the best mortgage deals. They compare offers from different banks and provide advice on the terms and conditions of the mortgage.
Are they Mandatory?
No, you can go directly to banks to apply for a mortgage, but using a broker can make the process easier.
Why is Using a Mortgage Broker a Good Idea:
A broker can save you time and find better deals than you would get on your own. They understand the Spanish mortgage market and can help you avoid high-interest rates or bad terms.
Cost:
Mortgage brokers typically charge a fee, which can be between 0.5% and 1% of the mortgage amount. Some brokers are paid directly by the banks, meaning you don’t have to pay them.
4. Notary (Notario)
What They Do:
Notaries are public officials who oversee and legalize property transactions. In Spain, all property sales must be formalized before a notary, who ensures that the contract is legal and the buyer understands all terms.
Are they Mandatory?
Yes, using a notary is mandatory for any property purchase in Spain.
Why is Using a Notary a Good Idea:
A notary ensures that the sale is legal and protects both the buyer and seller. They make sure that the buyer fully understands the contract and all its legal consequences.
Cost:
Notary fees are regulated and usually amount to around 0.1% to 0.5% of the property price. Expect to pay between €600 and €1,200, depending on the complexity of the transaction.
5. Gestor (Gestor Administrativo)
What They Do:
A gestor is an administrative manager who helps with the paperwork and bureaucracy in Spain. They can assist with tax filings, utility registrations, and ensuring that all documents are properly filed after a property purchase.
Are they Mandatory?
No, a gestor is not required by law, but they are incredibly helpful for dealing with Spanish bureaucracy.
Why is Using a Gestor a Good Idea:
If you are unfamiliar with Spanish systems or don’t speak the language fluently, a gestor can save you a lot of headaches. They can manage everything from paying taxes to setting up utility accounts.
Cost:
Gestors usually charge a flat fee, which can range from €200 to €500 for property transactions.
What is “Real” Estate?
The term “real estate” comes from the Latin word “res,” meaning “thing” or “object,” combined with the Old French word “estat,” which means “status” or “state.” Over time, these terms came together to refer to property that is tangible and immovable, like land or buildings.
“Real” in “real estate” means actual or physical, distinguishing land and buildings from personal property, which includes movable items like furniture or vehicles. The term emphasizes that the property is permanent and tied to the land. Residential property falls under real estate because it consists of physical land and structures like houses or apartments that cannot be moved.
