Buying A Home in Spain
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The Purchase Process
To buy property on the Costa del Sol, start by getting pre-approved for a mortgage (if required), finding a reputable real estate agent, and hiring a lawyer specializing in property law. Then, make an offer, obtain an NIE number, sign a reservation contract and purchase agreement, and finally, complete the deed of sale at a notary's office... Here's a more detailed breakdown of the process: 1. Preparation & Research: Financial Planning: Determine your budget, including the purchase price, deposit, and ongoing costs like taxes and utilities. Mortgage Pre-Approval: If required, get pre-approved for a mortgage to understand how much you can borrow. We can recommend an independent mortgage brokerage if required. Research the Market: Familiarize yourself with different areas, property types, and prices on the Costa del Sol. Find a Reputable Real Estate Agent: A local agent with experience in the area can help you find the right property and navigate the complexities of the Spanish market. At Holiday Homes Spain, we feel we match this requirement. 2. Finding and Securing a Property: Property Selection: Work with your agent to find properties that meet your needs and budget. Make an Offer: Once you find a property you like, make a formal offer with your agent. Reservation Contract: Sign a reservation contract with a deposit (typically €6,000) to reserve the property. Private Purchase Contract: If the completion date is more than 30 days after the reservation contract, a private purchase contract (Contrato Privado de Compraventa) will be signed, with a 10% deposit (minus the initial deposit). 3. Legal & Financial Steps: Hire a Solicitor: Engage a Spanish solicitor specializing in property law to guide you through the legal process and protect your interests. We can recommend solicitors speaking a variety of languages it required. Obtain an NIE Number: As a foreign buyer, you'll need to obtain a Número de Identificación de Extranjero (NIE), a tax identification number. With Power of Attorney, your solicitor can apply for this on your behalf. Open a Spanish Bank Account: You'll need a Spanish bank account to handle the purchase and ongoing property-related expenses. Again, your solicitor can open this and set up direct debits for utilities if they have Power of Attorney. Due Diligence: Your solicitor will conduct due diligence on the property, checking for any outstanding debts or charges. Final Purchase Agreement: Your solicitor will review the final purchase agreement (Contrato de Compraventa) to ensure it protects your interests.
Testimonials
Trustindex verifies that the original source of the review is Google. Darren has been very patient, answering all our questions and understanding our requirements before making recommendations. He works with all the other agents on the Costa del Sol and arranged viewings with other agents' listings as well as his own to ensure we got just the right property for us. We would highly recommend if you want an agent that will take you from the beginning of your journey to way past the completion of the purchase.Trustindex verifies that the original source of the review is Google. Great experience working with Darren and with the whole team of Holiday Homes Spain. They have been veery helpful from start till end. I would highly recommend them for anyone looking to buy a property at Costa Del Sol. Thank youTrustindex verifies that the original source of the review is Google. Had a very positive experience with Holiday Homes Spain. From the very first contact with Darren via email he could not have been more helpful. When we met in Spain he showed us a wide variety of properties according to the priorities I had given. We found our dream apartment and Darren went out of his way to help with process while we were back in the UK, even changing the locks for us! We couldn’t have asked for a better experience and highly recommend the company.Trustindex verifies that the original source of the review is Google. Having met with several estate agents some of which were very pushy and some even aggressive and rude, I decided to use Holiday Homes Spain because they were very personable and listened to what I wanted. They went above and beyond in the buying process and I never once felt pressured into making a decision. In fact I reserved and then later cancelled the purchase of 2 other properties before finally purchasing. They were very patient and even helped in getting my deposit back on the reserved properties. They accompanied me to see a lawyer and was there every step of the way through my purchase. I would highly recommend them to buy or sell a property, I cannot fault their service.Trustindex verifies that the original source of the review is Google. FANTASTIC Estate Agents with a Professional Caring ServiceTrustindex verifies that the original source of the review is Google. Outstanding Agent. Went above and beyond for us when we bought in Spain. Excellent knowledge of the market and the patience of a saint. Well versed in property law and procedures and guided us through it without fuss. Now marketing a property for us and very professionally dealt withTrustindex verifies that the original source of the review is Google. Darren helped my husband and I find our first home in December 2020 - as soon as we met Darren he put us at ease and we really felt he listened to everything we said and understood exactly what we were looking for. Throughout the whole process he was on hand at any time to answer questions and offer advice. We are very happy in our home but in the future if and when the time comes to move on we won’t hesitate to contact Darren!Verified by TrustindexTrustindex verified badge is the Universal Symbol of Trust. Only the greatest companies can get the verified badge who has a review score above 4.5, based on customer reviews over the past 12 months. Read more
Buy a home on the Costa del Sol. Property for sale in Marbella, Estepona, Benahavis, Mijas, Manilva and Benalmadena. Villas, apartments and penthouses for sale in Malaga.