Del Sol Estates & Investments will guide you through the purchase process, helping you select a property tailored to your unique needs and budget.

REQUEST AN APPOINTMENT:
T.: +34 691 890756
E.: info@DELSOLESTATES.COM

We will coordinate all property viewings before your arrival, streamlining how to purchase a property in Costa Del Sol.

Additionally, we can assist with arranging airport pickup for your convenience.

Rest assured, we strive to ensure a seamless experience for you.

When selecting a lawyer, it is crucial to seek someone with expertise in the specific field you require.

If needed, we can offer recommendations for qualified legal professionals to guide you through the purchase process here in Costa Del Sol.

After discovering your dream home, your agent will request you to sign a reservation agreement (contrato de reserva),
effectively removing it from the market.

Typically, a minimum of 6,000 EUR is paid upon signing. Your lawyer will conduct due diligence on the property,
covering building and first occupation licenses plus any other relevant legal or tax matters.

After conducting thorough due diligence, within a two-week timeframe, the lawyers will draft a Deposit Contract or Private Purchase Contract, including the agreed upon price and the rest of the terms of the purchase, and set a deadline for final completion at Notary. The difference between the two is that in a Deposit Contract both parties can decide not to complete the purchase (and either losing the initial deposit or returning double in the case of the seller), but in the Private Purchase Contract (PPC) both parties have to complete or stand to lose a substantial amount of money.

At this stage, an additional percentage of the property’s agreed price must be paid, typically 10% for resale properties and 30% for new developments. Your lawyer will advise you which of the two types of contract is more suited to your particular purchase, the main difference being that while in a private purchase contract both buyer and seller commit to buy and sell respectively, in the deposit contract both parties can cancel the purchase by losing the deposit paid.

To complete the purchase, the buyer must sign the public deed of purchase (Escritura Publica) at the notary’s office. You can either be present in person or appoint someone, usually your lawyer, through a power of attorney.

In case you have a mortgage, a separate deed will be required, which the notary will carefully review. Finally, the buyer will be handed the keys, officially becoming the new owner.

a. RESALE PROPERTY

-The ITP (Impuesto de Transmisiones Patrimoniales)
-A transfer tax based on the autonomos community, in Andalucia currently it is 7% ITP (last updated 2024) is applied to all purchases.
-Notary Fees (Escritura): The fees charged by notaries usually fall within the range of 500 to 1,800 EUR per transaction
-Land Registry Fees: This fee is determined by the authorities and is usually between 50-70% of the notary fee.
-Legal Fees: 1% to 1.5% of the property purchase price + 21% VAT

b. NEW PROPERTY

-The VAT: 10% for residential properties and 21% for plots, garages & storage
-Notary Fees (Escritura): The fees charged by notaries usually fall within the range of 500 to 1,800 EUR per transaction
-Land Registry Fees:This fee is determined by the authorities and is usually between 50-70% of the notary fee
-Legal Fees: 1% to 1.5% of the property purchase price + 21% VAT

Upon becoming the new owner, it is necessary to update all names on contracts associated with the property. This encompasses utilities such as water and electricity, council tax (IBI), rubbish tax (Basura), and community fees.
To ensure the smooth processing of payments, it is imperative to possess a bank account in Spain.

Take the next step with Del Sol Estates & Investments, and start your property journey today.