Real estate purchase procedure

Real estate purchase procedure

1. English: Buying a Property on the Costa del Sol – Step by Step

Index

  1. Search and Find: Discovering your dream home

  2. The Buying Process: From offer to ownership

  3. Financing: Realizing your purchase

  4. Taxes in Spain: Costs and obligations

  5. Rentals: Generating return on your property

  6. Living on the Costa del Sol: Enjoying the Mediterranean lifestyle

1. Search and Find: Discovering Your Dream Home

The search for the perfect home starts with a clear vision. A well-defined profile helps us select the best options for you.

  • Location & Lifestyle: Beachfront, mountains, golf-side, or city center (e.g., Marbella, Estepona, Málaga)?

  • Property Type: Modern apartments, luxury villas, townhouses, or authentic fincas?

  • New Build vs. Resale: Choose between Off-plan (buying from drawings), Pre-launch (exclusive early prices), Key-ready (newly finished), or Resale (existing properties).

Search on our Website: We offer access to almost every property for sale on the Costa del Sol.

  • TIP 1: Share your criteria with us to receive automated updates on the latest listings.

  • TIP 2: Ask our Online AI Property Agent for instant answers regarding properties, financing, or legal procedures.

2. The Buying Process: From Offer to Ownership

The Spanish buying process is transparent and secure when following the right steps:

  1. Offer & Negotiation: We submit the offer and negotiate the best price for you.

  2. Reservation Contract: Secure the property with a deposit (usually €6,000 - €12,000) to take it off the market.

  3. Legal Due Diligence: We recommend an independent multilingual lawyer to check the Nota Simple, debts, and building licenses.

  4. NIE Number: Your lawyer will help you obtain your Spanish tax ID (mandatory for purchase).

  5. Private Purchase Contract: Payment of 10% (minus reservation fee) after a successful legal check.

  6. Notary Completion (Escritura): The final signing, remaining payment, and key handover.

  7. Registration: Post-sale registration in the Property Registry and utility transfers.

Recommended Multilingual Law Firms: De Cotta Law (Gisele van Meer) or Ilse Jodts Legal and Taxes.

3. Financing: Realizing Your Purchase

  • Spanish Mortgage: Non-residents can typically finance up to 70% of the purchase price or valuation.

  • Company Purchase: Buying via a Spanish S.L. can offer tax benefits for investors.

4. Taxes and Costs

Budget for 10-14% extra costs on top of the purchase price:

  • Resale: 7% Transfer Tax (ITP).

  • New Build: 10% VAT (IVA) + 1.2% Stamp Duty.

  • Annual Taxes: IBI (Property Tax) and IRNR (Non-resident Income Tax).

5. Rentals: Generating Returns

The Costa del Sol is a prime rental destination. We assist with:

  • Tourist Licenses: Mandatory registration (VFT) for holiday rentals.

  • Management: Our partner Costa Andalucia Holidays provides full multilingual management (cleaning, key holding, admin). Website: costaandaluciaholidays.com

6. Living on the Costa del Sol

Enjoy 320 days of sunshine, world-class golf, and a vibrant international community. SLG Property has over 25 years of experience. We provide custom viewing trips, airport transfers, and expert advice to ensure you find the perfect investment.

 

SLG Property - Ron de Vries

We regularly attend trade fairs in the Netherlands and Flanders.

Estate agent Ron de Vries of SLG Property shows Laura Hamilton of A Place in the Sun an exclusive four-bedroom luxury villa in Marbesa - Costa del Sol.

 

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