The Buying Process

Looking to Buy a Property in Mijas?

There are many hidden gems for sale in Mijas but finding them and navigating the market can be challenging.

Let US do the work for you.  No charge.  No hassle. No headache.

YES, I AM LOOKING TO BUY

We work on a 4 stage buying process that is simple and clear.

FACTS * FINDING * FINANCES * FINALISING

THE FACTS
GETTING TO KNOW YOU

Why are you buying?  What is your budget? What is the target location?

These questions get us started, to build a transparent, professional and friendly property agent partnership together.

In the current climate travelling to view properties can be challenging, therefore we can provide LIVE walkthroughs of shortlisted properties.

And, since we know you so well, we do not waste time recommending properties that don´t fit your requirements.

Here are some of the QUESTIONS we ask to get started and build your buyer profile!

FINDING THE RIGHT PROPERTY

Now we get to work!  We will create your bespoke property selection list from our exclusive listings and network searches as well as our partner agents & targeted collaborations.

  • Match your property criteria to listed (and unlisted properties)
  • Viewing forms (signed by buyers & sellers)
  • Actual hosted viewings of property
  • Virtual online tours of property
  • Collaborations and partner database sharing
  • Targeted approach, always, no time wasting

We have access to multiple international property sites, saving your time and ultimately money.

Worth noting, you cannot buy a property in Spain without a NIE number (Numero de Identificación de Extranjero), which is an identity number for non-Spaniards.  We can assist you with this should you need to acquire one.  We can also provide independent contacts for lawyers & financial experts.

FINANCES, TAXES & PAYMENTS

Found the property!  Ready to make an offer? A reservation agreement is signed and a reserve deposit paid.  This takes the property off the market and secures the sale price, usually no more than 30 days. While the property reservation agreement is in place, your lawyer and surveyor should conduct a thorough investigation and property search to ensure that all documentation is in order.

Within 10 days of signing the reservation agreement, the full private purchase contract (contrato de arras) is signed between the buyer and the seller. Binding the Buyer & Seller.  Should you pull out of the sale, you will lose your deposit. In Spain on average the buyer will end up paying around 12%-14% on fees and taxes.

  • Pay to agent or lawyer for seller, RESERVE DEPOSIT.
  • Pay to owner or lawyer for the seller 10% – 20% DEPOSIT of purchase price
  • Pay to lawyer for the seller the BALANCE of the purchase price
  • Pay Associated Property Taxes (budget for approx.10% on top of sales price)
Click here for a Quick look at Associated TAXES & FEES

FINALISING COMPLETION OF SALE

Final payments & official singing of title deeds for ownership of the property at the Town Hall.

  1. Formalise the sale The “Escritura de Compraventa” (Title Deed) needs to be signed and notarized before a public official called a Public Notary, or Notario.
  2. Make final payment & all relevant purchase taxes at Notario
  3. Final registration of the Escritura. By the Notary to the Land Registry for registration
  4. Property passed to the new owner. Final registration of title deed can take a few months.

CONGRATULATIONS - You are the new owner!

Here are some of the questions we ask to get to know you in order to help us find the right property:

Where are you from, living and do you have property already in Spain?

What is your WHY for purchasing this property?

What is the property for (investment, home, rental)?

What type of property are you looking for (villa, townhouse, apartment etc)?

What is your budget & financial status in regards to purchasing (maximum)?

What is your wish list of property inclusions?

What is the No-No’s or deal breakers of a property?

What is your timeframe to purchase? What areas are you focused on (rural, urban, coastal)?

What is your style or design aesthetic (modern, traditional etc)

What is your status to purchase property in Spain?

Do you have a lawyer representing you?
If not, we can advise on independent property lawyers at no charge to you.

As well as getting to know you, you will also get to know us and how we can help you to find your property. How our remuneration structure works (as a buyer you pay us nothing!), How we work and what systems we use.

Spain is no different to other countries when it comes to buying a property. In addition to the purchase price, there are associated acquisition costs such as notary fees, stamp duty, registry fees, legal and administration expenses, bank fees, VAT (IVA), Transfer Tax, etc.

  • Property Transfer Tax
    (between 4%-11%)
  • Notary fees
    (between 600-1000 euros)                                                 
  • Property registry costs 
    (400-650 euros)
  • Gestoría costs
    (between 250-500 euros) 
  • Property valuation costs
    (if mortgage is needed, around 800 euros)

For newly built properties

  • IVA or VAT 
    (10%)
  • IAJD
    (between 0.5%-1.5%)

As the buyer, there are no fees to be paid to the agent; these are paid by the seller.

The tax you pay when you buy a property in Spain will normally depend on whether you are a tax resident or not.

To help you understand and estimate these related expenses, we recommend you obtain professional advice from legal and financial experts – to calculate your own individual situation.  We can highly recommend autonomous and reliable English speaking Spanish professional partners who can help you.

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