International Real Estate Agency

Marbella - Costa del Sol - Spain

How is the buying procedure in Spain?

Buying property in the Costa del Sol is very straightforward, and when you buy with Spain Consultancy you can rest assured your purchase will be handled professionally and correctly. Our experienced team deal with both buyer and seller when handling negotiations and help with any other questions.

There are three basic stages of the purchase:

Reservation Agreement & Deposit

Buyer and Seller sign a simple reservation agreement and the buyer pays a modest reservation deposit as a gesture of good faith. This confirms the agreement of buyer and seller, and the seller takes the property off the market, keeping it reserved for the buyer for an agreed period during which we will have prepared a Private or Option contract.

Option Contract called „Arras”

When lawyers have confirmed that the legal position of the property is in order, the Option contract is drawn up and signed by both buyer and seller.

If all is well it is usual for 10% of the agreed purchase price to be paid by the buyer. This contract is binding on both parties and if the buyer withdraws he forfeits the deposit. If the seller withdraws he has to refund the deposit double.

Completion

Completion of the purchase takes place at a notary where the deed of conveyance “Escritura Publica” is signed by both parties, the balance of the purchase price is paid and the buyer takes possession of the property. The Notary will then lodge the deed at the land & property registry to assure legal title.  

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Buying Off-Plan Properties at the Costa del Sol. More Information:

The end of the real estate crisis is particularly evident in the new construction activities in Marbella and the entire Costa del Sol. From villas to apartments everything is being rebuilt and the demand for new developments is very big. For the trend trend that many customers prefer modern, minimalist architecture of the traditional Mediterranean, leads to increased demand for modern apartments and villas, particularly in the area of ​​Marbella and Estepona.

This demand exceeds the current supply of new properties in modern style. If you are looking for a contemporary new development or villa in and around Marbella, you will have to deal with the interesting "off-plan properties". The purchase of a property which is still under construction or even only in the planning has a lot of advantages and only few disadvantages.

LET´S START WITH THE ADVANTAGES

• You buy a property that meets the needs of modern lifestyle - design and materials meet the latest trends - bright materials, open ambience, large panoramic windows, contemporary design, etc.

• You still have the choice and can choose the best property for you in the residential complex.

• The new EU building regulation ensures a high quality standard. New buildings have a 10-year guarantee and the design and quality differences between the new apartments and the older apartments, is quite high.

• Since 70% of the purchase price is due on completion and transfer, you still have time to finance the property. In addition, the developer often offers, in cooperation with a bank, a mortgage for the buyers.

• There is no risk of purchasing off-plan today. All payments are secured by a bank with a bank guarantee for the buyer (is required by law). If, for some reason, the development is not terminated (which is actually impossible, as all apartments are sold before and the finance is secured), the buyer will be refunded by the bank for the paid amount + interest. So there is no risk. This is one of the reasons why off-plan properties have such high demand.

ONLY SMALL DISADVANTAGES

• You have to wait up to 18 months for your new property and you can not move in immediately.

• You need a certain imagination to imagine the finished apartment, or the finished house.

• Unfortunately, you can not wait for the purchase decision until the development will be completed, since all modern new buildings are sold out long before completion.

            

The explanation for this is that the demand for modern quality buildings is much higher than the supply. Because of the good weather (300 days of sunshine a year and the many golf courses etc), the demand from all over Europe is very high. At the Costa del Sol we have a agglomeration of buyers from Sweden, Norway, Denmark, Finland, Holland, England, Switzerland, Germany etc. So from all countries, where it is cold and people wants to stay in the sunny south. Therefore, the only way to buy a good quality apartment is to buy off-plan and you can not wait until the apartments are finished. This high demand also guarantees rising prices in the future, which is also very interesting for investors. In most cases, the prices for the newly built apartments have already risen by about 20% once finished. 












Costa del Sol - Andalucia - There are many reasons why the Costa del Sol is one of the most popular destinations in the world. Beautiful weather and over 300 days of sun a year. Surrounded by miles of sandy beaches and exquisite facilities such as world-class golf, five-star hotels, lively beach clubs, yacht clubs & amazing restaurants. It is one of the most attractive and easily accessible parts of Southern Spain. Only two hours flight from the most european cities.

More than 70 golf courses make Málaga and Costa del Sol the leading golf travel destination in Europe. This has earned the area the nickname ‘Costa del Golf’. In addition to its top-notch infrastructure for golfers, Málaga is blessed with a pleasant weather that invites them to play all year round. 

Visiting the historic, artistic and architectural heritage of Malaga is discovering its unique cultural richness. The cultural offer is rounded off with theatres, museums and exhibition and concert halls with an interesting and varied programme. A series of 784 Cultural Interest Sites, including monuments, archaeological sites and historic places, and a living and up-to-date cultural programme turns Malaga and its Costa del Sol into the reference destination for culture lovers. 

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