Purchasing real estate (houses, apartments, townhouse, penthouse, etc.) in Spain can quite often be seen as complicated. Questions o\n this topic are often raised. Marbella Project will assist you throughout every step to help you fully understand the process, and will also provide you with after sale servoice.
Marbella Project provide a full range of high quality and professional services to help you find your perfect property.Our qualified specialists have many years of experience and we have well-established lawyers that we have cooperation with and who help provide you with legal and financial advice.
It is important to have a very clear idea of what you are looking for in a property in terms of location, size and of course your budget.
If you are not currently living in Spain, all you have to do is request property informtion online through our website. With in 48 hours you will receive proprties that macth your specific search criteria, with a detailed description and photo’s. Within 3-5 days you will be sent a video of the property and the local area.
The next stage is travelling to Marbella. If You have any questions regarding obtaining visas, buying flights or travelers cheques, our experts are here to help you.
Not only will your representative from Marbella Project take you to viewings, but they will also collect from the airport, tell you all about what life on the Costa del Sol is like and of course answer all your questions you might have regarding schools, banking, Insurance, healthcare etc.
After you have found your dream home in the sun, we then move onto the next stage, which is the purchase process.
The process of buying property in Spain
Stage 1. Once you have found your perfect property, you will be required to pay a deposit which is usually 10% of the purchase price, this will secue the property whilst your chosen lawyer conducts the necessary check ups on the property. After these check ups are completed and if you’re happy to move forward, the deposit will be used towards the purchase price.
Stage 2. The preparation and signing of the contract.
Stage 3. Getting a NIE number (or “Numero de Identificatión de Extranjero”). This is a national tax identification number that is required in Spain by any non-Spanish individual. It is the foreigner’s equivalent to a DNI number possessed by Spanish nationals. This is issued by the National Police of Spain (http://www.policia.es) and in accordance to Spanish law is required for the purchase or sale of any real estate in Spain. The document is often used as a form of identification. We will assist you with this process.
Stage 4. Opening a Bank account. Our specialists will provide you the best options and will assist you throughout the process. In order to open a bank account as a non-resident, you’ll need the following documents:
- Your valid, unexpired passport or national identity card (if you’re an EU citizen);
- Proof of address, such as a recent bank statement or utility bill (less than 3 months old); and
- Proof of your employment status (such as a payslip, tax return or a government letter confirming that you’re unemployed or receiving state benefits).
Stage 5. Transfering money into your new Spanish account to cover the cost of any housing related expenses and taxes, including the tax on the purchase of property.
- 8% for amounts under 400 000€;
- 9% on the amount from 400 000€ to 700 000€;
- 10% in excess of 700 000€.
Additional costs when buying property:
|TAXES & FEES||RATE|
|Stamp Duty (AJD)||0.5 – 1.5 %|
|Land Registry Fees||0.1 – 2 %|
|Notary Public Fees||0.1 – 2 %|
|Lawyers Fees||1 – 2 %|
|Mortgage & Gestoria fees (if finance is needed)||1 – 2 %|
Property in Spain must be registered in the Registry of property (Registro de Propiedad), which contains information about the owner, the cadastral value, square meters of the property, encumbrances and debts.
Our employees not only provide you with free consultation but also prepare all the necessary documents for the purchase.
The signing of the contract
The contract of sale is signed before the Notary in the presence of the owner or their lawyer. After signing the contract you get your keys. The notary sends information about the transaction to the Land Registry. After two or three months you get a certificate of ownership (Nota Simple).