Where to start ?
You may have already spent many hours looking online. It’s a good place to start.
But eventually it makes sense to find a trusted expert who lives in your search area and can do some of the groundwork for you. According to statistics, it takes the average home buyer over a year and a half (16.7 months) to find their next home on the internet (including time spent on non-productive viewing trips).
Property search on the Costa del Sol is our business!
What type of property are you looking for, in which area?
What are you looking for?
- Apartment, penthouse, villa, plot, new development
- E.g. Marbella, Puerto Banús, Malága, etc.
- What are the 3 most important things, e.g. – Sea view, – No garden apartment, – Big terrace, – Close to shops
Is it a holiday home or resident home?
- 5 to 10 weeks a year
- Permanent home
What is the price level you want to spend?
- 250,000-350,000€ (including buying cost?)
- Do you need finance, what percentage
- Are you a cash buyer
Would you like to rent out your property?
- What season
- What is the income you calculate
- Do you need a management company
- Would you rent it out furnished or unfurnished
I How do we assist you ?
Based on your requirements and your needs we do a Search. The search criteria can be completely different from what you have seen so far:
- We do a targeted search in all databases ESTATE AGENTS DATABASES based on your input
- You can you support us in any way if you:
- We have to learn from you to understand exactly what you are looking for.
- Send us any input you have or find:
- Properties you have seen on the internet, send us the LINK
- Properties you have seen in magazines, send us a Scan
- Properties you would like to take into consideration, send us the details
- We will send you a selection of properties based on our search
- You shortlist what you think could be an option for you.
- We discuss the short list and define next steps.
- Criteria’s can change
- Perform another search.
- We organize the viewings for you.
- We tour with you.
- We organize legal advice.
- We organize bank meetings and finance.
- We support you in all the steps during the whole process.
I Buying Process
- We present your buying offer to the seller to get the best deal for you
- We support your lawyer during the whole sales cycle until notary appointment
- We support you in the after sales process
I RESERVING YOUR PROPERTY
The first step is to formalise your purchase of the property and remove it from the market. This is done by signing a Reservation Agreement and paying a deposit of (usually) €6,000 to the independent lawyer´s client account. The reservation deposit also freezes the price.
Your lawyer will then ask for all the papers relating to the property and start the Due diligence. Once the lawyer has completed the Due diligence to their satisfaction, they will sign the Private Contract on your behalf, upon your written authorisation. You can also come to Spain and do this in person.
I WHAT IS A PRIVATE PURCHASE CONTRACT?
A private purchase contract is a contract between the consumer and the vendor, again typically setting out the terms and conditions of the contract. The contract will be prepared by your lawyer and will contain:
- A legal declaration from the vendor that he/she is legally positioned to sell the property respectively.
- The exact address and dimensions of the property and its features as set out in the “referenciaCatastral” Government registration of the property.
- The completion date and hand over of the keys etc.
- The agreed terms and conditions as agreed buy the consumer and the vendor
I Property Purchase Costs
Transfer Tax – (I.T.P.) Scaled at 8%, 9% & 10%
Payable by the buyer for the purchase of any Real Estate (villas, flats, land, commercial premises, garages), provided the vendor is not a developer or normally trading in the business of resale properties. If the “minimum fiscal value” of the property, as per the Regional Government, is greater than the price, then the minimum fiscal valuation applies: 8% is applicable up to the amount of 400,000€ or 30,000€ in the case of garages except those belonging to the dwelling and with a maximum of two; 9% is applicable to the amount between 400,000€ and 700,000 or between 30,000€ and 50,000€ for garages; 10% is applicable to the amount exceeding 700,000€ or 50,000€ for garages.
VAT and Stamp Duty – 10% + 1.5%
For any villa or apartment, or garage that is annexed to an apartment or villa, where the vendor is a developer, promoter or habitual trader for brand- new properties.
VAT and Stamp Duty – 21% + 1.5%
For the first sale or resale of parcels of land, and only for the first sale of brand-new commercial premises where the vendor is a developer, promoter or habitual trader or a company.
VAT and Stamp Duty or Transfer Tax (I.T.P.) – 21% (villa/apartment) + 2% (comm. Premises) or Scaled at 8%, 9% – 10%
In resale of any villa, apartment or commercial premises, where the vendor is a company, developer, promoter or habitual trader and the purchaser is a company that will apply or use the property for the development of its activity, they can chose between paying VAT (that can be deduced with the normal activity of the company) and 2% of stamp duty or Transfer Tax.
Notary and Property Registry Fees – 1 to 1.5%
The cost increases according to the number of pages or complexity of the title deed, and value of the property.
Municipal Added Value Tax (Plus Valía)
The Plus Valía tax (described earlier) can be as little as a few hundred Euros or as much as many thousands of Euros on a property with a lot of land that hasn’t changed hands in many years. This tax corresponds, by its nature, to the vendor who is responsible for its payment, unless otherwise negotiated.
Lawyer’s Fees – 1% Appox.
Lawyer’s fees are in the order of 1% of the selling price, more or less, depending on the lawyer and the price of the property.
The total official costs involved in purchasing a constructed residential property should be around 10-11% for resale properties or around 12% for new properties if VAT is paid on the purchase price, plus lawyer’s fees.
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