Costa Blanca Property Buying Guide

Are you planing to buy a property in Spain and do not where to start?

To buy a property in Spain is indeed an exciting journey which make both heart and mind to offer you interesting choices but can also be a complicated and stressful task if you do not know the market and don’t have a trusted advisor to guide you through the journey.

We at El Siglo Properties will keep you informed of where to buy and which property is most suitable with your criteria and estimated budget.
Each of our clients will be taken care of individually and we will help you through the entire process, from searching for the selected property to ensuring the legal issues are in order for having a successful deal.

How can you start this wonderful journey with us?

  1. Contact us and tell about your preferences and criteria
    Inform us about what exactly you are looking for and give us some examples via the properties in our website that have interested you.
  2. Information about your budget and financing
    As your trusted estate agent we need to be informed about the budget that you have considered to invest and the source of financing.
    If you are planning to use your own savings or using finance through the banks in your country we need to be sure that the money is ready.
    In case you wish to apply for a mortgage from a Spanish bank, we will gladly help you get in contact with banks that offer the best mortgage rates and terms. The list of the documents that you need to apply for a mortgage will be sent to you after our contact.
  3. Preparing a list of interesting properties
    The given information of your preferences and investment size give us all details to find what you are looking for. We will prepare a list of the selected properties and will do a review together before viewing. We will set a time and date for meeting and view together what you have selected.


What happens when you find your home in Spain?

  1. Fixing the purchase price
    We are aiming that our clients get the right property with best possible price and have already discussed about the prices of properties in our database with the sellers, but as always you are welcome to put your rational offer and we forward it to the seller.
  2. Additional Costs to be calculated
    When it comes to the costs of buying and owning Spanish property you need to be well-informed and do your own numbers for covering the purchase with peace in the mind and with no unexpected costs. Please read the information below that is clarifying these additional costs:

    • Transfer tax (ITP), which is 10 per cent of the property’s purchase price
    • Notary fees (fixed on a sliding scale but typically €700 – €900)
    • Land registry fees (roughly half the cost of notary fees)
    • Independent lawyer’s fees, approximately € 2000 including VAT

      * - For the new build properties "The Stamp duty" should be added to the costs above which is about 1.5% of the purchase price.
      **- The extras for anyone buying a property with a mortgage from Spanish banks: would typically include: a valuation (approx. €350), stamp duty of 1.5 per cent of the mortgage deeds (capital loaned) and a lender’s commission (typically 1 per cent of the capital loaned) as well as Notary and Land Registry Fees.

  3. Reservation contract
    When both you and the seller have agreed on the price and terms of purchase, we will arrange a reservation contract and reserve the property for you with a deposit payment. We will make a sales contract at the same time with the seller and both parties will be informed about the final price for the property, deposited money, the day of completion and terms of the agreements.
  4. Meeting a professional legal adviser
    In order to make the purchase process as secure as possible we will arrange a meeting between you and a professional lawyer who will guide you through all of the property law and legal issues and considerations that can be encountered when buying or selling a property in Spain. The lawyer will control all the paperwork in relation to the purchase and with a power of attorney taking care of the whole purchase process until completion. The lawyer will apply for your NIE numbers (Spanish Tax number) and open a bank account in a Spanish bank which from there you should transfer the rest of the money and your bills will be paid from there through auto- debit system.
  5. Property transactions – Signing at the Notary
    All property transactions in Spain must be approved by a registered Notary, a legal representative of the Spanish government. Only Notaries can register you as the rightful owner of a property in Spain’s Land Registry, which they do after witnessing the signing of the deeds (Escritura) by the buyer or buyer's lawyer who has a power of attorney and vendor, and ensuring all associated payments and taxes are paid.
  6. After sales services / and helping with renting or renovation
    Along with your solicitor, we will gladly help you even after completion for any further assistance with your new home. If you wish to rent your property or need help for renovation, we can introduce you to companies which can offer you a professional job and at the best price.


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