Buying process in Spain
CHOOSE A LAWYER
Málaga-Marbella House always recommends choosing a qualified lawyer to represent you and a tax advisor in Spain to handle tax matters.
The deposit ensures the house is taken off the market when the buyer and seller sign a reservation contract. The deposit is usually from €3,000 to €10,000, depending on the type of home and price. During the reservation period, the lawyer reviews the current housing documents, local and regional plans, etc. The deposit is non-refundable once the booking contract is signed, unless there are circumstances surrounding the property that make your solicitor not recommend the purchase.
The purchase contract is an extension of the existing reservation contract, which also establishes the date of signing the deed. Upon signing the contract, 10% of the purchase price is paid to your lawyer's client account.
Signature of public deed
In Spain, the acquisition of possession and the deed are carried out before a notary. The final amount is paid and then the deed is sent to the land registry, the keys are given to you and now you become the new owner. You will receive a copy of the new deed. You will receive the final deed 2 to 3 months after the acquisition, when the land registration has been finally carried out.
Purchase costs in addition to the purchase price
Resale homes property transfer tax 7%
Resale homes property transfer tax for real estate companies or professionals who buy second-hand properties and sell them again within 5 years. 2%
Project sales and new construction directly from the developer 10% VAT + 1.20% stamp duty
Reasons 21% VAT
Costs for notary and land registration +/- 3000€
Lawyer's fee 1% of the purchase price + 21% VAT