BUYING A PROPERTY IN MARBELLA
Your first step is to establish a strategic plan aimed at identifying your dream property. Setting ground rules provides clarity, confidence, and eliminates confusion, distractions, and time wastage. With a clear plan in place, you can move forward confidently towards finding your ideal property.
PURCHASING COSTS
Embarking on the journey to purchase a property on the Costa del Sol is an exhilarating adventure. However, it's crucial to be well-prepared for the process to ensure a seamless experience. Understanding the additional costs involved is paramount to avoiding unexpected financial burdens. Let us guide you through these costs, empowering you to make informed decisions and turn your dream into a reality.
OFF PLAN OR KEY READY?
When it comes to purchasing a property, whether it's off-plan or key-ready, it's crucial to be aware of the distinctions to ensure the property aligns with your expectations and needs. We've outlined the key aspects of both options to provide you with a comprehensive understanding.
RESALE-TURNKEY PROPERTIES
For clients who prioritise immediate occupancy and enjoyment, we specialise in offering only the highest quality newly completed homes or those that have undergone extensive high-level reforms. Our properties are situated in the most sought-after communities and areas, ensuring that you can move in and start enjoying your new home without delay. Let us help you find the perfect property that meets your criteria for luxury, convenience, and comfort.
NEW HOME MARBELLA I HOTTEST NEW LAUNCHES
FINEST QUALITY DEVELOPMENT AND OFF-PLAN PROPERTIES
Status
Property Address
Helvetica Light is an easy-to-read font, with tall and narrow letters, that works well on almost every site.
$123,456,789
Status
Property Address
Helvetica Light is an easy-to-read font, with tall and narrow letters, that works well on almost every site.
$123,456,789
Status
Property Address
Helvetica Light is an easy-to-read font, with tall and narrow letters, that works well on almost every site.
$123,456,789
The Buying Process
THE STARTING POINT: Set your budget
Once you have decided to buy property in Marbella, Spain, the first step in the buying process is to establish a clear budget. No matter what type of Marbella real estate you are interested in buying, be it commercial, retail or luxury villa for sale in Marbella’s most prestigious postcode, it is crucial to define a budget that will suit your financial capacity, yet will also align with your aspirations, expectations and goals.
CHOOSE THE RIGHT AGENT
Selecting a reputable real estate agent with extensive experience of your chosen area is paramount. For example, if you wish to invest in new developments on Marbella’s Golden Mile, then choose a high-end real estate agent who has a proven track record of selling property in this area. Leveraging your agent’s expertise and market knowledge can streamline the property search process and help you to make well-informed decisions.
CLEAR COMMUNICATION
Most of all, make sure communication is clear and that they ask questions about your lifestyle, requirements, wish lists and red lines. It is essential to have the right rapport, as you are going to be trusting your agent to help you make one of the most important financial decisions of your life. It is also advisable to check that any potential agent possesses the necessary permissions to operate in Spain.
VIEWING TRIPS
Once you have gained a comprehensive understanding of the market and identified Marbella property that fulfill your requirements, you will want to view the properties. If you are already in Marbella, your agent can arrange a viewing at a convenient time, alternatively, if you are located overseas, it is possible to arrange a viewing trip to Marbella. Working together, your real estate agent will create a personalised itinerary, allowing you to compare the options. When accompanied by an experienced agent, the viewings can be invaluable, providing you with a first-hand insight into the Marbella property market and lifestyle.
THE STARTING POINT: Set your budget
Once you have decided to buy property in Marbella, Spain, the first step in the buying process is to establish a clear budget. No matter what type of Marbella real estate you are interested in buying, be it commercial, retail or luxury villa for sale in Marbella’s most prestigious postcode, it is crucial to define a budget that will suit your financial capacity, yet will also align with your aspirations, expectations and goals.
CHOOSE THE RIGHT AGENT
Selecting a reputable real estate agent with extensive experience of your chosen area is paramount. For example, if you wish to invest in new developments on Marbella’s Golden Mile, then choose a high-end real estate agent who has a proven track record of selling property in this area. Leveraging your agent’s expertise and market knowledge can streamline the property search process and help you to make well-informed decisions.
Buy off-plan property in Marbella, Spain
When you have found the perfect off-plan property, there is a specific buying process that should be followed in order to ensure a smooth and efficient transaction.
1. RESERVATION:
The first step is to complete a "Reservation Document," which will list the buyer’s details, the property / unit specifications, price, payment terms and the payment of the "Reservation Deposit."
2. LEGAL ASSISTANCE:
At this stage, if you haven’t already contracted the services of a Spanish lawyer, your agent will introduce you to a reputable lawyer who speaks your language and has experience of Spanish property law. They will be able to help you with the process of obtaining your N.I.E. fiscal identity card, which is required for property purchases and any other legal or financial transactions in Spain, including opening a bank account, contracting utilities and managing household expenses etc.
3. LEGAL DOCUMENTATION:
Your lawyer will request all pertinent documentation from the developer, including a copy of the building license, Bank Guarantee, floor plan, quality specifications and the payment schedule.
At this point, you will be asked to provide certain financial information in order to comply with anti-money laundering laws before the purchase can go ahead.
4. PRIVATE PURCHASE CONTRACT:
Approximately 30 days after completing the first three steps, you will be asked to sign the "Private Purchase Contract". This document outlines the purchase conditions, specifying any stage payments and the final payment date.
5. PROPERTY INSPECTION:
As the completion date approaches, a property inspection is conducted to identify and document any minor defects or omissions. These are then rectified by the developer before the final signing at the Notary. If you're unable to attend, your agent can represent you during the inspection.
6. NOTARY:
The final step involves attending a Notary with your lawyer and the developer's legal representative to complete the transaction. It is now that the final payment for the property will be made, along with taxes, legal fees and Notary fees.
Congratulations, you are now the proud owner of your new property!
THE STARTING POINT: Set your budget
Once you have decided to buy property in Marbella, Spain, the first step in the buying process is to establish a clear budget. No matter what type of Marbella real estate you are interested in buying, be it commercial, retail or luxury villa for sale in Marbella’s most prestigious postcode, it is crucial to define a budget that will suit your financial capacity, yet will also align with your aspirations, expectations and goals.
CHOOSE THE RIGHT AGENT
Selecting a reputable real estate agent with extensive experience of your chosen area is paramount. For example, if you wish to invest in new developments on Marbella’s Golden Mile, then choose a high-end real estate agent who has a proven track record of selling property in this area. Leveraging your agent’s expertise and market knowledge can streamline the property search process and help you to make well-informed decisions.
When purchasing a resale property in Marbella, Spain
When purchasing a resale (a property that has been previously owned), there is a similar, yet slightly different purchasing process.
1. RESERVATION:
After finding your dream home and agreeing on a price, a “Reservation Document” will be completed, listing details of the seller and buyer, the property specifics, the agreed sales price, and any additional conditions.
2. DEPOSIT:
A nominal deposit will be required in order to signify your intent to purchase the property. Once the deposit is paid, the property will be taken off the market.
3. DUE DILIGENCE:
Your lawyer will liaise with the seller's lawyer to request documentation for the "due diligence" process to make sure there are no financial liens or legal irregularities that could adversely affect your interests. The due diligence typically takes 10 to 14 days. At this point, your lawyer can help you obtain the necessary Spanish NIE and to open a Spanish bank account.
4. Private Purchase Contract:
Following the Due Diligence process, the lawyers draft the "Private Purchase Contract," outlining all transaction terms. The buyer will be expected to pay a minimum of 10% of the overall purchase price upon signing the contract.
5. Completing the sale:
The entire purchase process of a resale property usually takes between 4 to 6 weeks. After which, both parties will be required to sign the deeds in the presence of a Notary, and the buyer will make the final payment via banker’s draft. Once the final payment is received and the deeds signed, the new owner will take possession of the property and the keys. Your lawyer and real estate agent will then register the property in your name, pay any taxes on your behalf and can assist with the connection of utilities (if required).
The Buying Process
THE STARTING POINT: Set your budget
Once you have decided to buy property in Marbella, Spain, the first step in the buying process is to establish a clear budget. No matter what type of Marbella real estate you are interested in buying, be it commercial, retail or luxury villa for sale in Marbella’s most prestigious postcode, it is crucial to define a budget that will suit your financial capacity, yet will also align with your aspirations, expectations and goals.
CHOOSE THE RIGHT AGENT
Selecting a reputable real estate agent with extensive experience of your chosen area is paramount. For example, if you wish to invest in new developments on Marbella’s Golden Mile, then choose a high-end real estate agent who has a proven track record of selling property in this area. Leveraging your agent’s expertise and market knowledge can streamline the property search process and help you to make well-informed decisions.
The Buying Process
THE STARTING POINT: Set your budget
Once you have decided to buy property in Marbella, Spain, the first step in the buying process is to establish a clear budget. No matter what type of Marbella real estate you are interested in buying, be it commercial, retail or luxury villa for sale in Marbella’s most prestigious postcode, it is crucial to define a budget that will suit your financial capacity, yet will also align with your aspirations, expectations and goals.
CHOOSE THE RIGHT AGENT
Selecting a reputable real estate agent with extensive experience of your chosen area is paramount. For example, if you wish to invest in new developments on Marbella’s Golden Mile, then choose a high-end real estate agent who has a proven track record of selling property in this area. Leveraging your agent’s expertise and market knowledge can streamline the property search process and help you to make well-informed decisions.