Our Marbella Villas Property Professionals are fully experienced and dedicated to helping you find your ideal property. Additionally to ensure the whole process is as smooth as possible, they will recommend the best independent legal and financial advisors.
The buying process in Spain consists of three steps.
By paying a reservation fee, normally 6.000 €, the owner and agency is obliged not to offer the property to other buyers. The contract normally holds dates estimated for the next two steps.
It gives your lawyer time conducting a full and thorough "Due diligence", he/she will inform you of their findings and discuss moving to a private purchase contract if applicable.
When you have given your lawyer the order to proceeding, the lawyers will draw up a private buying contract, the 10%-contract.
It is a private document, stipulating many details, which do not appear in deed. Price for furniture and decoration items, list of content of the property, etc. and the estimated date for the signing of the deed.
All parties, buyer, vendor, their lawyers, and if needed bankers, in case of closing or opening mortgages and the estate agent/s involved in the sale, will appear at the notary office.
Before, the lawyers involved have checked payment of IBI (Property tax), Basura (Rubbish collection), electricity, water and community fee. If there are outstanding amounts, your lawyer will deduct the amount from the final check, and pay the amount/s to the right creditors.
As well, the estate agencies will get their checks, paid by the vendor.
The buying costs vary from 11.5% to 13.5% of the purchase price, broken down as follows:
In case you need a mortgage, you should calculate a further 1.0 – 1.5% for setting up the mortgage with a Spanish bank.
If you require any further help please contact us directly.