Buying a home in Spain is neither difficult nor complicated, as long as you get the correct information about the buying process.
Therefore, it is important to find out as much information as possible about the process. But also choosing a real estate agent you trust.

Start by seeing what opportunities you have to invest in a property in Spain? Before you start looking for your dream home, review how it should be financed and that you know that you can pay first a reservation fee and then a down payment.
If you find a property in Spain, you must act quickly to secure it with a reservation fee so the home can be removed from the market.
It is normally possible to borrow from a Spanish bank up to 70 percent of the lowest of the property’s market valuation or purchase price. You can also apply for a loan in your home country on your existing property.
We help you get in touch with a bank that can find the right arrangement for you in Spain.

The nextstep to think about is where you want to live and what type of property you need. What is the purpose of your home? Is it a holiday or permanent home? Should it be rented out? Is a pool a must, do you want a terrace, is the direction of

the terrace important? Do you want to live in the inland or near the coast, sea views, garage, storage, etc.? If it is to be rented out, it is important to know what rules apply, if you are allowed to rent it out and if a tourist license is required.

This can differ between different areas.

When we know what is important, we pick out the best proposals on the market and plan your viewings so that you have time to see the best options that correspond to your wishes during your stay in Spain.

If you findan interesting home on another website or platform or on another broker's website, we can always help you try to look at it and help you buy it.

When you buy a home, it is important to examine the home as carefully as possible, because all homes in Spain are sold in their existing condition and it is very difficult to complain about an error after you have signed the purchase contract.
If you feel insecure about the home, we can recommend professional help who can do an inspection. Your legal representative always does the legal examination of the home.

Bidding is not uncommon in Spain and when you have found the right property, we will help you negotiate with the seller about price and terms, then a reservation agreement is usually written and the reservation fee which is usually
between3000 - 6000 Euro is paid to your legal representative's client funds account or to our client funds account. Then the private purchase contract is written, which is compiled by the legal representative after the legal check has been made.

In connection with this, a down payment of 10 percent of the purchase price is usually paid, minus the reservation fee. On the day of access, you and the seller will meet with the broker and the legal representatives at the notary.
It is your agent who chooses a notary and who is responsible for booking the time. If you do not have the opportunity to be present, your legal representative can of course represent you via a power of attorney. A settlement of costs and redemption of any loans is established here.

Here you also pay the remaining part of the purchase price.

You get the keys from the seller at the meeting with the notary and can access the property immediately after that. The seller has a responsibility to leave the home in the condition (legally and physically) and with the installations and licenses specified in the purchase agreement.

Before the notary meeting, we always inspect the home so that it is in the condition and with the equipment we have agreed on. When the purchase is complete, certain registrations, tax payments and subscription changes remain,
something that your legal representative can help you with. Now almost everything is ready and it's time to move into the new home.

If you have questions about moving and furnishing, we are happy to help. We at ExclusiveHomes Costa Blanca take care of the entire purchase process from our office sothat you as a customer receive the best possible service. We offer our service package

which includes e.g., application for NIE number, open bank account, review the property's legal status, produce insurance, power of attorney, change electricity and water contracts, etc.

An NIE-number is a Spanish tax identification number. You need this to be able to buy a home in Spain.

Additional costs

When buying a property in Spain, some costs are added in addition to the actual purchase price. In general, you should expect a supplement to the purchase price of about 10–13%.

Taxes

When buying newly produced residential properties, a VAT of 10% of the purchase price is added. In addition, a stamp duty of 1.5% is added. In the case of second-hand homes, a transfer tax of 8-10% will be added depending on the

region and the size of the purchase price. However, no stamp duty is paid. Check with your broker which taxes apply in your particular case!

Notary fees

The buyer is also responsible for the notary's fee when the parties exchange the purchase contract. The actual cost here can be difficult to estimate in advance as a number of different factors come into play, but a pretty good rule of thumb is that it is about 0.5% of the purchase price.

Registration fees

The registration in the property register under the new owner entails additional costs. Again, this is a cost that is difficult to give an exact value of, but even here a good rule of thumb is 0.5% of the purchase price.

Connection fees

Upon access, there are connection fees and / or fees for changing subscriptions for water and sewage, electricity, and any gas.

The title deed

The title deed is registered in the land register, this takes about 2-3 months. When it is registered after all taxes and fees have been paid, you will receive it back with the registration certificate.