Real estate buying guide on the Costa del Sol

From the first visit to the signature with the notary-and beyond

Buying real estate in Spain is such an exciting as it is decisive. Whether you are looking for a second home, a main house or a rental investment, the Costa del Sol offers a wide range of attractive opportunities. In this article, we explain the purchasing process in detail, the deadlines to be expected, the legal aspects to know and everything that must be anticipated to buy in all serenity.

1. Define your real estate project

Before even starting visits, it is important to clarify your needs and goals. What is the purpose of your purchase?

• A second home to enjoy the holidays
• A main residence for a new start to the sun
• A rental investment with a good return

We help you define your priorities in order to present goods to you perfectly suited to your project. Thanks to our access to the entire market, including off-market opportunities, we can offer you both resale as well as new projects.

2. New or resale: what to choose?

Buying on plan
the purchase of a new property generally involves a purchase on plan, that is to say a good still under construction or to be built. Payment is staggered according to the progress of the work. This type of property offers modern design, high energy standards and manufacturer's guarantees. The period between the reservation and the signing of the private contract is 4 to 12 weeks. Delivery can occur between 6 and 30 months.

Buying on resale
is an existing property sold by an individual. This type of purchase is often faster, with the possibility of moving shortly after signature at the notary.

3. Deadlines to be expected

Here is an overview of deadlines depending on the type of property:

4. Legal support

Calling on an independent lawyer specializing in Spanish real estate law is essential. We work with trusted firms and can recommend reliable professionals. The lawyer takes care of:

• Check the legal situation of the property (land register, debts, permit)
• Prepare and control contracts
• Request your NIE (tax identification number)
• Assist you to open a Spanish bank account
• Guide you in the KYC process
• Represent you via proxy if necessary
• Manage payments, taxes and recording of the property
• Set up water and electricity contracts after handing over the keys

5. The KYC process: Know Your Customer

To comply with Spanish regulations against money laundering, you will need to provide certain documents before reserving a new property or signing the private contract for a property. These documents include:

• A copy of the passport
• Proof of address
• The tax number of your country of origin
• Proofs of the origin of funds (bank statements, etc.)

KYC control is carried out by the promoter or the agency, as the case may be. Your lawyer supports you to ensure that all obligations are fulfilled.

6.

In addition to the net price of the property, it is important to provide the following costs:

• For new good: 10 % VAT, plus 3 % additional costs
• For a property in resale: 7 % transmission tax (ITP), plus around 3 % additional costs

Additional costs cover lawyers, notary fees, registration, stamp duties, etc. Note that our services are completely free for the buyer: no commission will be invoiced to you.

7. Signature in the notary

The purchase becomes official when signing the authentic act before a notary. At this stage:

• The final payment is made
• The act of sale is signed
• The property is officially registered with your name
• You receive the keys, or your lawyer receives them on your behalf

If you cannot be present, your lawyer can represent you with a power of attorney.

8. After the sale

Our support continues well after signing. We will be happy to put you in touch with:

• Trust insurance brokers
• Providers for decoration, development or management of your property
• Our best addresses to discover the region: restaurants, activities, excursions and events

Ready to get started?

We, Doris and Sophie, co-owners of dream property, support you from A to Z in your real estate project on the Costa del Sol. From the identification of the right sector to the final signature in the notary-and even beyond-we offer you personalized, transparent and professional support at each stage.