BUYER GUIDE

MARBELLA

This guide sets out essential information’s. Should not be used as a substitute lawyer legal assistant

Legal Advice

  • We work with a trusted real estate law firm, specialized in legal tax and real estate law
  • Purchasing a property in Spain is significantly different to buying a property in your country
  • We ensure that you receive proper legal advice

Steps for Purchasing

KYC : Know your customer. It involves performing identity and financial activities verification

Finding a property

Formal Offer: Reservation fees are from 6000€ to 10% (Arras Contract)

Prepare a power of attorney, NIE Number and opening a bank account

The Private Purchase contract will be drafted

Completion, when the Public Title Deeds of the purchase are signed in Notary

Once all documents are formally stamped, the deeds are collected from the Notary’s office

Purchasing Fees

- Purchasers should budget between 9% and 12.5% of the total purchase price

- Lawyers’ fees: 1% of the purchase price

- Transfer Tax for 2 º Hand HTP: 7%

- Transfer Tax for New-Builds : 10% IVA + 1.2 AJD

- Transfer Tax for Plots: 21%

- Plus Valia Tax: It is calculated on the increase of the property since it was last transferred

- Notary and property registry fees: Approximately 0.5% of the purchase price

- IBI Tax : Municipal real estate tax

Mortgage Costs

- 60% to 70% of the property value

- 1 % of the loan value for setup fees, plus insurance, valuation…etc.

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