New-build Spain · Checklist
Checklist: what must be checked before the first instalment
Once the private contract is signed, the leverage is gone. Everything listed here belongs before that moment, not after.
Legal notice
Author & regulatory separation. Content author: Siegfried Perini. Mortgage brokerage in Spain and Portugal is carried out under the §34i GewO licence held by Olga Nikushkina (BAFA-notified). This information does not replace legal or tax advice.
Before the contract
Protection and licence
- Building licence (licencia de obra mayor) granted and in force — not "applied for".
- Bank guarantee or surety insurance for every instalment, in your name. Details.
- Dedicated account named in the contract.
- Developer checked: commercial register, completed projects, liquidity. A first project is a different risk from a twentieth.
- Nota simple for the plot: owner, charges, no surprises.
Contract
What must be in it
- Financing clause: deadline, minimum amount, how a refusal is evidenced, and the consequence for instalments already paid.
- Completion date with delay clause and a hard right of withdrawal after a defined overrun.
- Final price, not "from". Including parking, storeroom, upgrades.
- Specification (memoria de calidades) as part of the contract, signed page by page.
Financing
The equity plan almost nobody draws up
- Total of all instalments up to handover — that is your equity requirement during the build.
- Plus purchase costs at completion (IVA/AJD, notary, registry, advice).
- Minus what is genuinely available — not what is "there in principle".
- The difference is the gap. It has three possible answers: own funds, borrowing against German property — or no off-plan purchase.
This calculation takes half an hour. Doing it afterwards costs considerably more.
FAQ
Frequently asked questions
Is the developer's lawyer enough?
No. They act for the developer. Your own independent Spanish lawyer is not optional on an off-plan purchase.
When should I start on the financing?
Before the private contract. An indicative review shows whether the plan holds; afterwards it merely confirms what you already owe.
Can I withdraw from the private contract?
Only as the contract allows. Without the right clauses, exiting is expensive — up to losing the instalments paid.
What does the initial consultation cost?
Nothing. In a first conversation we tell you what is feasible and which bank fits — including when a plan does not hold in your situation.
New-build & construction phase
More on the construction phase
New-build
Why Spanish banks do not finance the construction phase
Go to page.
Zur Seite → New-buildFinancing the instalments to the developer
Go to page.
Zur Seite → New-buildAval bancario & seguro de caución
Go to page.
Zur Seite → New-buildSubrogación: take over the developer's mortgage, or redeem it?
Go to page.
Zur Seite → New-buildHipoteca de autopromotor: self-building in Spain
Go to page.
Zur Seite → New-buildTiming: mortgage approval after 24 months of construction
Go to page.
Zur Seite →New-build in Spain — let us work through the construction phase together
I check which part of the price has to come from your own funds, what a German bank can raise against existing property, and what the Spanish bank takes on at completion — free of charge, no upfront cost.