Professional Estate Agents
Finding and buying a house in Spain is can be done without stress, provided you know the way, or have a professional Real Estate Agent. In that, Megens Real Estate can provide you with excellent service. You can count on more than 14 years of experience and we have built an excellent name during that time.
Finding your Dream Home
The search for a house on the Costa del Sol usually starts on the internet, on this website you find the largest offer of houses on the Costa del Sol. We can also send you a selection by email. Upon request, you can receive automated messages about new houses to the market or price changes in a particular area. Next step is an inspection trip to the Costa del Sol. Together we view the properties of your choice. We often do this in a number of days or mornings. Having found your Dream Home? Then we will make an offer that is in your interest. Our knowledge and experience of the local real estate market is your advantage again!
Buying a property in Spain
Once agreed the purchase price and estimated date between the buyer and the seller, the actual purchase process starts. You want to be sure that the purchase process is settled according to the correct laws and you want to know, of course, what your rights are in a foreign country. Megens Real Estate provides professional assistance and guides you step by step.
The usual steps:
- Seller sent us a nota simple and a copy of his ID or passport.
- Buyer contracts a lawyer (we can recommend one).
- Buyer and seller sign a reservation document.
- Buyer pays € 6.000,- for reservation of the property. From this moment the property is reserved.
- The lawyer starts due diligence.
- Buyer and seller sign a private purchase contract.
- Buyer pays 10% of the price, minus €6.000,-.
- Lawyers prepair documents towards completion.
- At the notary buyer and seller sign the Escritura (title deed). Buyer pays the balance.
- Buyer receives the keys.
- Lawyer registers utilities and comunity on the name of the buyer (and on his behalf).
- Lawyer pays the taxes on behalf of the buyer.
Purchase Cost when buying a property in Spain:
When buying a property in Spain, you will have to pay these costs:
- 8% Transfer Tax up to €400.000,-
- 9% Transfer Tax from €400.001,- to €700.000,-.
- 10% Transfer Tax from €700.001,-.
- Lawyer: 1% +VAT.
- Notary fees, land registry, fees for administration aprox 2%
Total cost to buy a property is aprox 11,5% to 12%. If you buy a property in a new development, you do not pay Transfer Tax. Instead you pay 10% VAT + 1,5% stamp duty. If you buy a building plot you pay 21% VAT.