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The Buying Process -
A Step by Step Guide



SO YOU WANT TO BUY A HOME ON THE COSTA DEL SOL

Golden sandy beaches, year-round sunshine, unrivalled sporting facilities, varied landscapes and lively nightlife... yes the Costa del Sol really does have something for everyone.

The jewel of the Costa del Sol is undoubtedly Marbella, a stylish, cosmopolitan resort that has long attracted the rich and famous. Surrounding by luxuriant semitropical vegetation, bathed by waters of the Mediterranean, cooled by sea and mountain breezes, Marbella is a magical blend of old and new, historic and modern. Inland you will discover sleepy villages such as Mijas, Istán and Casares, great historic cities including Granada, Cordoba and Seville, and the soaring mountains of the Sierra Nevada.

If you are considering Marbella as your destination, It’s a great choice, both as a place to live, with it’s delightful climate, beach location, safe environment and excellent infrastructure, and as an investment. It has consistently proved to be the best in Europe, presently at roughly 20% increases per year.

Located just west of Marbella is Puerto Banús with its famous marina where the gleaming yachts are some of the largest and most luxurious you'll see anywhere in the world. Nightlife buzzes at Puerto Banús with your choice of alfresco bars, piano clubs, discos, sports bars and even a Casino.

With many attractions, beautiful world class golf courses (there are over 50 quality golf courses, with more planned) and fantastic restaurants, it is easy to see why so many people consider the Costa del Sol when moving abroad, while for families there are theme parks, water parks, go-karting, safari parks and many beautiful public gardens and over 320 days of sunshine a year!

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PROPERTY SEARCH REQUEST FORM

Please complete this form in order that we may assist you with your requirements. Once this form is received by us we shall arrange for details of suitable properties to be forwarded.


*First Name
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*Email
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Message, including specific locations you may require as shown,
1 - 11 above,or from the map as below, if applicable:

 



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THE BUYING PROCESS - A STEP BY STEP GUIDE

There are two types of property which you can purchase.

New homes (Developments) & Properties for Sale (Resale properties).

Please note that properties in Spain are freehold, including apartments, not leasehold as in the UK.



The process varies slightly for the type of property you purchase.

• Reservation Deposit
Once you have found the right property, the first step is to pay a reservation fee. This will take the property off the market whilst negotiations between the parties’ legal advisors are held. This can be paid quickly and easily by credit card and is generally non refundable. The average is between 3000€ - 6000€.


• Exchange of Private Purchase Contracts
Once the property has been taken out of the market by signing the reservation, a private purchase agreement will be drawn up between your lawyer and that of the seller, This usually takes 30 days for completion. The presence of the purchaser at this stage is not needed.


• Title Deeds (“Escritura”)
Your law firm will prepare the documentation required for the transfer of ownership. On the appointed day the buyer and purchaser, and/or their legal representatives, meet at the notary’s office to sign the official transfer of title deed from the Seller to the Buyer (“escritura”). The witnessing of the accompanying documentation by the notary acts as your legal safeguard that the change of ownership will be recorded in the official registry and completes the process.

This will leave you safe in the knowledge that your property purchase is official and free of unknown encumbrances.



• Fees and Taxes
When buying property in Spain, there are certain fees and taxes to be paid. You should expect the additional cost to be added to the purchase price to be in the order of 10 – 12%. This is made up as follows:



Purchase Taxes (New homes)
7% (16% for storage etc.), known as VAT, plus

Stamp Duty
1%.

Properties for sale (Resale)
7%, know as IDT (Transfer Tax)

Title Deed Tax
0.50% of the value

Legal Fees
1% to 2% plus VAT (presently 16%)

Notary Fees
Based on a fixed scale. Charges may range from € 340 for a property
price of € 120.202 to € 601 for a property price of € 601.012.

Land Registry
As a rule of thumb, 40% of what the Notary charges.