Buying Process, Selling Process
Buying Process
FIRST STEP: THE RESERVATION AGREEMENT & DEPOSIT
Once we have found your property and have an agreed sale price with the vendor, we then start the reservation agreement. This is the procedure of buying a property in Spain. The reservation is an agreement between, vendor and buyer of the agreed sales price and conditions (i.e. furniture included etc.). It includes the closing date, the Private Purchase Contract date, the conditions of the sale, names of the vendor and buyer, together with the price and address.
As for the initial reservation fee, For properties below 500.000 the reservation agreement requires a deposit of €6000.If the property is above 500.000 the reservation agreement requires a deposit above 6000 euros. This shows commitment from the buyer towards the vendor. When the deposit has been made, the property will be taken off the market. During the next 2 to 3 weeks, the buyer’s lawyers will make a due diligence report that will inform you of all the findings and legal declarations from that property.
FIRST STEP: THE RESERVATION AGREEMENT & DEPOSIT
Once we have found your property and have an agreed sale price with the vendor, we then start the reservation agreement. This is the procedure of buying a property in Spain. The reservation is an agreement between, vendor and buyer of the agreed sales price and conditions (i.e. furniture included etc.). It includes the closing date, the Private Purchase Contract date, the conditions of the sale, names of the vendor and buyer, together with the price and address.
As for the initial reservation fee, For properties below 500.000 the reservation agreement requires a deposit of €6000.If the property is above 500.000 the reservation agreement requires a deposit above 6000 euros. This shows commitment from the buyer towards the vendor. When the deposit has been made, the property will be taken off the market. During the next 2 to 3 weeks, the buyer’s lawyers will make a due diligence report that will inform you of all the findings and legal declarations from that property.
SECOND STEP: PRIVATE PURCHASE CONTRACT
Private Purchase Contract, also known as PPC is a binding contract between both parties.
At this point both parties’ lawyers will already be in contact with each other.
The private purchase contract is done 2 to 3 weeks after reserving a property along with a payment of 10% from the sales price has to be made from the buyers side.
SECOND STEP: PRIVATE PURCHASE CONTRACT
Private Purchase Contract, also known as PPC is a binding contract between both parties.
At this point both parties’ lawyers will already be in contact with each other.
The private purchase contract is done 2 to 3 weeks after reserving a property along with a payment of 10% from the sales price has to be made from the buyers side.
THIRD STEP: THE COMPLETION
The completion comes after the reservation agreement and PPC. When all these steps have been completed, your lawyer will inform you of the remaining balance. Either your lawyer or yourself can present yourself to pick up the keys and new title deeds.
From thereon you are officially owners of a property in Costa Del Sol
THIRD STEP: THE COMPLETION
The completion comes after the reservation agreement and PPC. When all these steps have been completed, your lawyer will inform you of the remaining balance. Either your lawyer or yourself can present yourself to pick up the keys and new title deeds.
From thereon you are officially owners of a property in Costa Del Sol
BUYING COSTS
The purchasing costs can vary on many factors. The breakdown of the costs have 2 big different categories. These are re-sale properties and new built or off plan projects. Depending which kind of property you are going for, you will have to add up another 10-13,5% on top of the sales price.
Buying a property in Spain includes the following purchasing costs:
7-8% IVA on re-sale properties 10% IVA on new built or off plan projects IVA is the VAT in Spain.
1.5% stamp duty tax
1% notary fees
1% legal fees
BUYING COSTS
The purchasing costs can vary on many factors. The breakdown of the costs have 2 big different categories. These are re-sale properties and new built or off plan projects. Depending which kind of property you are going for, you will have to add up another 10-13,5% on top of the sales price.
Buying a property in Spain includes the following purchasing costs:
7-8% IVA on re-sale properties 10% IVA on new built or off plan projects IVA is the VAT in Spain.
1.5% stamp duty tax
1% notary fees
1% legal fees
Want to sell your property in spain?
Emare group provides you with a quick and easy sale of your property.
With many years of experience we ensure we reach as many potential clients from all over the world as possible and all of our collaborating agents.
Here in Spain we work with a multi listing service along with our in depth marketing strategies.
Once we have marketed your property, it will be available for all potential buyers.
When a buyer has decided to go forward with your property, we will make a reservation agreement with you as the vendor and the client as the buyer.
AFTER SALES SERVICES
Emare Group, specializes in a professional service after buying a property.
To ensure our customers satisfaction we are dedicated in helping from the early beginnings of finding the right property to after sales services such as finding banks, builders, cleaners, etc.
With our wide range of connections and expertise we can provide
Request a custom property recommendation
Our real estate agents have extensive experience with matching the right property with the right person, if you need help, just let us know!