Buying in Spain

Like the UK buying a home in any country can be a stressful time, however we strive to make this process run as smoothly as possible. R L Morris will be by your side every step of the way, advising where necessary and guiding you through the process.

Understanding the process and associated costs including legalities to buying a property in Spain is essential and listed below is a brief outline of some of those essentials, from making your initial enquiry to purchasing your ideal home.

  • On submitting your enquiry we take all relevant details of your requirements. Our overseas office will then contact you to discuss these requirements in more detail and answer any queries you may have
  • Prior to submitting your enquiry your finance will ideally be arranged or in place. If you do not have this in place we advise where necessary
  • During the enquiry stage the buying process, requirements and legalities will be explained to you in full
  • Once suitable properties have been identified viewing trips of 2-3 days will be arranged with recommended accommodation for your stay suggested depending on your search locations. An agent from our overseas office will meet you at the airport and accompany you on all viewings, including acting on your behalf when negotiating or submitting offers
  • This will also be a good time to instruct a suitable lawyer to act on your behalf throughout the process
  • Once an offer has been submitted an agreed a reservation fee of usually in the region of 3000 – 6,000 euros is normally payable. This reservation fee means that the agreed purchase price is frozen for usually a period of 30 days with the monies being held by your lawyer in either a client or escrow account and deductible from your final balance of payment on completion
  • During this time your lawyer will check the property ownership for liens or any other issues and raise any enquiries
  • Once all enquiries are satisfied a deposit 10%-20% of the purchase price is normally payable on signing the private purchase contract (contracto de arras), this is similar to exchanging in the UK and makes the sale legally binding
  • Finally completion will take place when both you and the seller sign the public deeds in the presence of a Spanish Notary, at which time the purchase price balance is paid and you as the buyer are officially granted possession of the property
  • The total costs you should expect to pay should be 10% for a re-sale property and 13% for a new build, this includes all fees including lawyers and taxes

Spain remains a great long term investment with potential for short term high yield rental returns and long term capital growth opportunities with our Marbella based partner is ideally located to advise accordingly

To find out more about buying a property in Spain or to register your interest in one of our properties please complete our short enquiry form and we can contact you to discuss further

International Buying Guide

Puerto Banus, Marbella

International Buying Guide

Tajo Gorge, Ronda