When we have gone to view a property that you are interested in, making an offer is a first step of the process. If this offer is accepted by the seller so both parties agree on the price, a reservation contract will be drawn up with the 1st down payment. This means the seller cannot sell the property to anyone else during the term of the agreement.

The amount of this 1st deposit varies depending on the purchase price but is usually between € 3.000 and € 10.000. This amount can be transferred to a third-party account of your legal representative or your estate agent.

At this stage, a lawyer is recommended. After paying for the reservation, he or she will start a due diligence to check if the property carries certain legal or technical charges.

Home Spain Andaluz works closely with the most loyal and professional lawyers you can call on in your own language.

If there are no barriers to buy the property, a pre-contract will be drawn up. This contains all relevant details about the property.

At the time of signing this contract, its is usual to pay 10% of the purchase price minus the reservation.

If the property is still to be built or under construction, 20% or 30% of the price is paid.

On the agreed transfer date, which can be found in the above contract, the remaining amount has to be paid and then the official deed of sale will be signed. This takes place at the notary, who in turn certifies the transfer of ownership. Following this, the key handover takes place.

In case of a first transfer (new construction)

– VAT (IVA): 10% of the purchase price for residential property. 21% on land and garages.
– Notary fees: On average between €500 and €1,800
– Legal fees lawyer: 1% of the agreed sales price + 21% VAT

In case of a resale

– Transfer tax: 7% of the purchase price
– Notary fees: On average between €500 and €1,800
– Legal fees lawyer: 1% of the agreed sales price + 21% VAT