Frequently Asked Questions About
Buying Property In Marbella And Surrounding Areas

Here is a selection of the frequently asked questions property buyers have when purchasing their dream home on the Costa del Sol.

Whether you are buying your first or fifth property, the house buying process can produce several emotions and feelings. Education and knowledge of the property buying process and our services will help you feel confident and level headed when finding your dream property.

It is better to ask than to not ask at all!

Here are several questions home buyers ask frequently when purchasing their property on the Costa del Sol. You will find answers to questions about the buying process, our services, costs you can expect, what to do once the offer has been accepted and more.

General

We at Luxury Property Finder Marbella specialise in luxury properties however, we are frequently asked by homebuyers and investors to find all sorts of properties from small apartments, large villas and townhouses. We do not discriminate on budget and provide the same level of service to all.

We are available everyday (Monday-Sunday) from 10:00 until 22:00 on +34 617 791 255 | +44 758 487 5504, via info@luxurypropertyfindermarbella.com and our live chat.

You can browse the properties for sale on our website. We have a selection of handpicked recommended properties, new build apartments and villas for sale in Marbella and surrounding areas as well as a selection of exclusive luxury properties available.

Or if you don’t have the time or don’t want to search, we can find your perfect property for you! Our exclusive property finding service is completely free, simply send us your requirements and we will do the work for you.

At Luxury Property Finder Marbella we know there is a mind blowing amount of property for sale on the Costa del Sol to choose from but we are also aware that to find THE perfect property to buy amongst thousands is challenging. That is why, we offer our property finder service that is tailor made to fit your specific requirements which we match to suitable properties. We will only show you properties that satisfy your requirements and within your budget.

The Buying Process

Making an offer

With over 30 years experience in the property market, we have extensive knowledge of the market, the trends and its values. We only send you properties that:

  1. Have a fair price or there is room for negotiation to achieve one
  2. Are in an area where there is a potential for capital appreciation

With our expert insider knowledge of the area, market conditions and what similar properties have been sold for, we will advise you what is a good offer. Our aim is to make sure you save and buy your dream property at the best price.

Once you have chosen a property you want to buy, we will discuss with you the best price you can offer and the tactics. We will step in a handle all negotiations on your behalf. With our expertise and being emotionally detached we are able to be completely objective, giving us the edge at the negotiating table resulting in a better price.

Buying a property

Once you have found the ideal property on the Costa del Sol and your offer has been accepted, we will draw up a “Reservation Contract”. This is standard procedure in Spain and is used to reserve a property for a specified time so that your lawyer can conduct the due diligence procedure.

The reservation contract sets out the basic terms and conditions of the purchase. Both the buyer and seller will approve and sign the document. This is a temporary document that includes:

  • Full name of buyer and vendor
  • Agreed price of the property
    Property address
  • Date to sign a “private purchase contract”
  • Other special conditions (subject to finance)
  • Deposit amount placed to reserve the property

In addition to the reservation contract, the buyer will deposit 6,000 € to secure the property while the “due diligence” is being conducted by the lawyer.
This deposit will be held in the Luxury Property Finder Marbella client account or with a lawyer of your choice. This can be paid by bank transfer or cash.
This deposit is fully refundable if your lawyer finds any legal issues concerning the property. If all is in order, the 6,000 € will be used towards the purchase price.

Once the offer has been accepted and the lawyer has checked all of the legal aspects and has given you the green light to go ahead with the purchase, a Private Purchase Contract is drawn up again setting out the terms and conditions for the purchase. Once agreed and signed by both buyer and seller, the buyer pays a deposit of usually 10% of the purchase price.

A Private Purchase Contract contains the following:

  • A legal declaration from the vendor that he/she is legally allowed to sell the property
  • The exact address and dimensions of the property as well as its features recorded in the “Referencia Catastral” (Government registration of the property)
  • The completion date and the key handover etc
  • The terms and conditions agreed by the consumer and the vendor

Once the signing of the title deeds have been completed, you will have legal ownership of the property and may take possession of it.

It will then take around a month, for the property to be registered in your name at the Property Registry Office.

The actual amount depends on the final purchase price but you should calculate between 10%-15% of the price to pay transfer tax or VAT, notary and registry office fees.

The most relevant purchase cost is the transfer tax which is currently set at 8% for resale properties up to 400,000 €.
For new build properties directly from developers, you do not pay transfer tax but instead you will need to pay 10% VAT + 1,5% Stamp Duty, totaling 11,5%.

Below you will find a breakdown of a couple of examples without mortgages.

Resale apartment in Benalmadena with a purchase price of 190.000 €

  • 8% transfer tax – 15,200 €
  • Lawyer fees (1%+VAT) – 2,299 €
  • Notary fees – 700 €
  • Land Registry fees – 400 €
  • Home Insurance – 250 €
  • Various (bank charges etc) – 151 €
  • TOTAL – 19,000 € (10% of purchase price)

New build apartment in Marbella with a purchase price of 190.000€

  • 10% VAT – 19,000 €
  • 1,5% stamp duty – 2,850 €
  • Lawyer fees (1%+VAT) – 2,299 €
  • Notary fees – 700 €
  • Land Registry fees – 400 €
  • Home Insurance – 250 €
  • Various (bank charges etc) – 151 €
  • TOTAL – 25,650 € (13.5% of purchase price)

Other costs to be aware of related to the purchase of your property on the Costa del Sol will be the water and electricity contract fees. The actual cost depends on the type of property as well as which supplier you use.
If you will be taking a mortgage out in Spain, calculate with an additional 5% of the loan for your expenses.

Working With Luxury Property Finder Marbella

Our services are purely for the buyers whereas real estate agencies focus on the seller’s objective.

Anyone who does not have or willing to spend time searching, visiting property and other time consuming property hunting activities. Our clients are focused, ready to buy and know what specifications their ideal property should have.

Nothing and you will also save time.
There is no cost to the buyer (our client). The seller will pay us once the sale has been completed.

We will search the whole of the Costa del Sol for you. We focus on areas from Malaga to Sotogrande such as Benalmadena, Mijas, Fuengirola, Mijas Costa, Calahonda, Cabopino, Elviria, Marbella, San Pedro and Estepona)

  • We are on your side (buyer)
  • Negotiate the best price
  • Avoid multiple estate agents
  • Hold Remote viewings via FaceTime, Skype
  • Create personal video of the properties
  • We speak your language (English, Spanish, French, Dutch, Norwegian and Russian)
  • Have the market come to you
  • You deal with one person throughout your search & purchase
  • We handle lawyers and surveyors
  • We save you time and money
  • We make house-buying simple and stress-free

The Golden Visa and Spanish Residency

This is a visa granted by the Spanish government to non-EU buyers to encourage investment in Spanish property. You need to invest a minimum of 500,000 € to be eligible for this visa.

  • You must be a non EU citizen
  • You must invest a minimum of 500,000 € in property (it can be 1 property to that value or multiple properties with a combined value of more than 500,000 €)
  • The 500,000 € needs to be without financing.
  • You need to be able to prove that the funds come a genuine source and comply with international money laundering regulations
  • You must have a clean criminal record

We work closely with a network of expert lawyers who will be able to advise further.

Let us know what your ideal home looks like and we will find it for you!

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