Buying your property

The first step for us at Marbella Apartments is to find the right property for you. To enable us to do that we will listen to your criteria and then select what fits for you to view. We collaborate with all the other agencies so there is nothing for sale we cannot show you. When we have found what you are looking for we will guide you through the process to completion.

The Spanish Buying Process

In Spain, we have to go through 3 legal phases.

  1. You reserve the property by paying a deposit
  2. You sign a private contract
  3. Completion of the transaction by signing the deed at the notary

1) Reserving the Property:

In order for the owner and agency to take the property off the market you have to pay a deposit of 6,000 Euros which is lodged with your lawyer. Your lawyer will then complete due diligence to ensure the legality of the property. If there are any problems at this stage your deposit is fully refundable. After this you go to stage 2.

2) Private Contract:

At this stage the lawyers representing you and the vendors will form a private contract stating the purchase price and anything else that is included. Your deposit will now increase to 10% less the 6,000 Euros that you have already payed.

The time between private contract and completion is used to check all public and community payments. This is basically Property Tax, Rubbish collection and monthly community fee. If there are any debts attached to the property they will be deducted from the final payment and your lawyer will pay them.

3) Completion of the transaction:

At the notary both lawyers will complete the transaction by signing the deeds and handing over the cheques. The Real Estate Agency will be paid by the Vendor. All keys to the property will be handed over to the lawyer representing the buyer at this stage.

When buying a property in Spain the following costs will be incurred by the buyer. This costs vary depending on whether it is a Second Hand (Resale) or a new (First Sale) property.

Resale Property:

Transfer tax paid to the local Andalusian Government:

  1. 8% for a sale price of under 400,000 Euros
  2. 9% from over 400,000 to 700,000 Euros
  3. 10% for over 700,000 Euros
  4. 1% Fee to your Lawyer
  5. 1% Notary and Registration Fee
  6. 1.5% Stamp duty to be paid for registering the deed

New Property Sale (First Sale):

  1. 10% IVA (VAT) as it is in Spain
  2. 1% Fee to your Lawyer
  3. 1% Notary and registration fee
  4. 1.5% Stamp Duty to be paid for registering the deed

If a mortgage is required from a Spanish bank, then typically a further 1 – 1.5% will be incurred for set up charges.

If you require further help regarding any of this, please do not hesitate to contact us

Selling your Property

Selling your property can be a stressful process but it does not need to be that way! We at Marbella Apartments will guide you through the process in a professional manner with minimum fuss.

Valuation of your Property

This is where it is crucial that you engage the right agency as you cannot beat market knowledge and experience. We at Marbella Apartments have been selling apartments all along the coast for over 20 years and thus are confident we will get the price right.

Marketing Your Property

We have over the years followed the ever-changing marketing trends and adapted our strategy accordingly. Our high-ranking Marbella apartment web pages are the perfect place to present your apartment. We also work together with carefully selected international partners thus ensuring international exposure.

Our work is not finished

Before the sale completes we will guide you by the hand through the process thus ensuring that you make the right decisions as they present themselves. We do not forget that this may be an unusual experience for our clients selling a property in a foreign country. It is not unusual for us because we have been doing it every day at Marbella Apartments.

Please contact us and we will arrange for one of our professional listing consultants to give you a FREE Valuation.