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Buyers Guide

Having selected your ideal property, you will want to be absolutely certain of the legalities of the purchasing process, and particularly your rights in a foreign country. This is where Casa Andalucía will ensure that you have the best professional assistance and will guide you through each step.

Casa Andalucía will explain in detail all the fees and taxes payable on a Spanish property. As a rough guide you should budged, that the total of all these amounts will be approximately 10% of the purchase price. Choosing the right agent will help you to build your knowledge of the area, compare values of properties. Casa Andalucía has a large market experience and the expertise to answer all your questionsWhen you have decided on the property of your choice, the first important step to be taken is the reservation of the property. With a reservation deposit of 6.000,- euros the property will be taken off the market. Now you and your legal representative have 15 days time to prepare the private contract. The solicitor can ensure you the property is legal. If anything illegal to the property appears inbetween, you do not lose your reservation deposit at Casa Andalucía! At the signing of the private contract the payment of 10 % (minus reservation) has to be made. Completion will take place 6-8 weeks later. (these standards may vary) On the assigned day buyer and seller (or their authorised representatives) will attend at the notary to sign the “Escritura de Compraventa” (Public Contract), which states that the property is sold free of charges, mortgages and tenants. The notary is obliged to obtain an up to date copy of the deed from the property registration office. After signing, the registration office is immediately notified of the change of ownership. After payment of the transfer tax, the deed will be registered. (Allow 3-4 months time) The notary does not check the terms but solely certificates that the parties have agreed them. At this point the balance of payment is made and possession passed to the buyer.

Casa Andalucía will recommend you a local lawyer who speaks your language and knows the specific needs of foreign property purchasers. Your lawyer will arrange all matters selected to purchase, completion and tax payments. Cost of purchase. The total cost of purchase is +/- 11,5 percent, payable by the buyer.

  • 8% Transfer Tax on existing freehold properties with purchase price to € 400.000,-.
  • 9% Transfer Tax from € 400.000,- to € 700.000,-.
  • 10% Transger Tax from € 700.000,-.
  • 10% VAT + 1,5% stamp duty  on a new development property.
  • 21% VAT on building plots, commercial properties.
  • 1% (+vat) Legal fees.
  • 1,5% Notary fees, land registry, fees for administration.

The seller has to pay the plusvalia. This is the local municipal tax and is based on the last time the property has changed hands. This can vary considerably from a few hundreds of euros to several thousands of euros. This is by its nature a seller’s tax. Areas we cover Costa del Sol, Malaga, Benalmadena, Fuengirola, Mijas.  

CASA ANDALUCIA
Costa del Sol Real Estate

T. 0034 686 931 876
E.