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Buying process


You wish a private house on the Costa del Sol. An exciting adventure !

It is, after all, another country with its own rules and laws.

You do not have to worry about this.

We will help you to make this happen as easy and stress-free as possible.

Find yourself a good real estate agent.

You wil need an agent who understands entirely your desires and needs regarding what kind of property you are looking for and what areas will best suit you. Know that in Spain you are free to choose more than one real estate agent for your home search. But then there is always the possibility of seeing the same property twice, which is a waste of time.

Our advice is to pick one reliable agent where you feel comfortable with and stick with them. It is after all a matter of trust.

… The NIE number.

Before you can do anything official in Spain you’ll need a National Identity number ( called NIE for non-Spaniards ).

This number is yours for life and is necessary for all sorts of transactions in Spain. From buying a property to opening a bank account or buying a car… .

You can obtain this NIE number yourself by going to the local National Police Station or, which is much easier and less time consuming, you can give power of attorney to your or our lawyer. He will arrange the further request for your NIE number. You even don’t have to go to the Police Station.

Usually the lawyer does your NIE number request at the time you buy your property. All is then in one file.

You have found your dream property ! Now what ?

That sunny penthouse apartment in Fuengirola is exactly what you’ve been looking for. You want it !

What is next ?

The property will then be taken of the market so no one else can take an option on it. It’s fixed for you. This involves signing a reservation contract and paying a deposit. The reservation contract includes the agreement made between the buyer and the seller. The advance is on average € 6000,- and will be kept in the lawyers third-party account until the closing of your purchase at the notary.

Legal settlement.

The further processing is done by your or our lawyer. He will verify the legal status and registration of the property and check whether it’s free of all encumbrances, liens and mortgages. after this, the lawyer proceeds to draw up a compromise between buyer and seller. By signing this compromise, the buyer pays a non-refundable deposit of 10% of the purchase price of the property. This advance is paid on the “trust account” of the lawyer, where it will remain until the sale is completed by the notary.

Finally …

The final stage in the purchase of your property is at the notary. Both parties ( or a legal representative ) must be present at the notary on or before the date determined by the compromise. At that time the remaining amount of the purchase price is paid to the notary and the notary will draft and sign a new deed. Once the deed is signed it is submitted to the Land Registry for registration.

What others may not tell you … additional costs on top of the price of the property.

Please take note of the following information when determining your budget.

In Spain you should consider the following costs on top of the purchase of your property :

  • the transfer tax when buying a resale property ( ITP , Impuesto de Transmission Patrimonales )
  • the sales tax when buying a new property ( IVA , Impuesto sobre el Valor Añadido ) + Stamp Duty
  • the fees of the lawyer
  • the notary fees.

These costs can be estimated between 10 to 13%, depending whether the property is new or resale.
This percentage is calculated on the purchase price of the property.

It’s simple really.

ARS IMMO will guide you smoothly through the buying process.
We ensure you that finding and buying your property will be a very nice experience !