The time has come: Together we have found the property of your dreams, here with us… on the coast of life. So, let’s take the next steps together. To make sure that everything goes smoothly and above all quickly, we need the following documents:
– Copy of your passport and (if available) a copy of your NIE/NIF number.
– Your address in your home country
– your marital status.
The purchase process is divided into three phases:
The reservation: after having paid a deposit of 5.000 euros, the property is “blocked”; this means that there will be no more visits offered to others – because you are now the undisputed number 1.
The pre-contract: The private contract between you and the selling party will be concluded approximately two to four weeks after the signing of the reservation contract; during which time you will already have checked the paperwork of your new property – to make sure that everything is “in order”. At this point, the reservation amount of 5,000 euros is increased to a total of 10% of the purchase price.
The notary appointment: Again, a few weeks later. By this next step, you are just one signature away from owning your dream home. At the notary’s office, you pay the remaining 90% of your property – and are therefore the rightful owner of the property. Congratulations!
In Spain, the real estate agency commission is paid by the seller – but you will also have to pay other, albeit comparatively small, fees:
– 8-10% real estate transfer tax (the amount depends on the value of your property).
– Around 1% of the notary’s fees (of the value of your property), including the fees for updating the cadastre and land registry.
In summary: please calculate 10-11% additional costs – and then: let’s go to your new home on the Costa del Sol.
And then: You are ready to enjoy the lifestyle and sunshine from your new home in the Costa Del Sol?