Marbella & Co

Buying/Selling Guides

Buying your property

The first step for us at Marbella & Co is to find the right property for you. To enable us to do that we will listen to your criteria and then select what fits for you to view. We collaborate with all the other agencies, so there is nothing for sale on the Costa del Sol that we cannot show you. When we have found what you are looking for, we will guide you through the process to completion.

The Spanish Buying Process

In Spain, there are 3 legal steps to buying a property

  1. You reserve the property by paying a deposit
  2. You sign a private contract
  3. You complete the transaction by signing the deed at the notary

1) Reserving the property:

In order for the owner and the agency to take the property off the market, you will need to pay a deposit of 6,000 euros, which is lodged with your lawyer. Your lawyer will then complete due diligence to ensure the legality of the property. If there are any problems at this stage your deposit is fully refundable. After this is completed you go on to stage 2.

2) Private Contract:

At this stage, your lawyers, in conjunction with the vendors lawyers, will draw up a private contract stating the purchase price of the property and anything else that is included. You must then pay a deposit of 10%, less the 6,000 euros that you have already paid.

The period between the issue of the private contract and the completion date is used to check that all public and community payments are up to date. This is basically Property Tax, rubbish collection fees, and monthly community fees, if applicable. If there are any debts attached to the property they will be deducted from the final payment and your lawyer will pay them.

3) Completion of the transaction:

At the notary, both lawyers will complete the transaction by signing the deeds and handing over the cheques. The real estate agency will be paid by the Vendor. All keys to the property will be handed over to the lawyer representing the buyer.

When buying a property in Spain the following costs will be incurred by the buyer. These costs vary depending on whether it is a second-hand (resale) or a new (first sale) property.

Resale Property:

Transfer tax paid to the local Andalusian Government:

  1. 8% if the sale price is less than 400,000 Euros
    9% if the sale price is 400,000 to 700,000 Euros
    10% if the sale price is over 700,000 Euros
  2. 1% Lawyer´s fee
  3. 1% Notary and registration fee
  4. 1.5% Stamp duty - to be paid for registering the deed

New Property Sale (First Sale):

  1. 10% IVA (VAT)
  2. 1% Lawyer´s fee
  3. 1% Notary and registration fee
  4. 1.5% Stamp duty - to be paid for registering the deed

If a mortgage is required from a Spanish bank, then typically a further 1.0–1.5% will be incurred for set-up charges.

If you require further help with any of this, or have any questions, then please do not hesitate to contact us.

Selling your Property

Selling your property can be a stressful process but it does not need to be that way! The Marbella & Co team will guide you through the process in a professional manner with minimum fuss.

Valuation of your Property

This is where it is crucial that you engage the right agency since excellent market knowledge and experience are required. At Marbella & Co, we have been selling properties all along the coast for over 20 years and we are confident that we will get the price right.

Marketing Your Property

We have, over the years, followed the ever-changing marketing trends and adapted our strategy accordingly. Our high-ranking Marbella & Co website is the perfect place to present your property. We also work together with carefully selected, international partners thus ensuring international exposure.

Dealing with offers and completing the sale

Before the sale completes, we will guide you through the process, to ensure that you make the right decisions as they present themselves. We never forget that selling a property in a foreign country may be an unusual experience for our clients. Fortunately, it is not unusual for us. Thanks to many years of successful sales, we are very accustomed to these procedures and will be available to help you every step of the way.

Please contact us and we will arrange for one of our professional listing consultants to give you a FREE Valuation.