We Turn Your Dreams into Reality
Marbella | Estepona | Benahavis
Properties
Discover your perfect property in Marbella
Discover your perfect property in Marbella with our expert guidance and dedication. Let us turn your dreams into reality as we navigate the stunning offerings of the Costa del Sol together.
Common Questions
Explore our frequently asked questions and get insightful answers.
The process for buying property in Marbella is similar to the rest of Spain. It involves finding the right property, making an offer, and engaging in due diligence, typically through a lawyer. You’ll need to sign a reservation agreement, followed by a private purchase contract, and finally, sign the title deeds (escritura) before a notary. In Marbella, it’s especially important to ensure the property has all necessary licenses, like the Licencia de Primera Ocupación (First Occupancy License) for new builds, to avoid any legal complications.
At Turlock Homes Marbella, we guide you through every step of this process. We assist with finding the perfect property, negotiating offers, and working closely with experienced lawyers to ensure all due diligence is conducted thoroughly. From securing the necessary licenses to signing the title deeds, we ensure that your purchase is legally sound and stress-free.
Yes, hiring a qualified lawyer is essential, especially in Marbella. A lawyer will ensure the property has no legal issues, all licenses are in place, and help with due diligence, contracts, and taxes. At Turlock Homes Marbella, we collaborate with trusted legal professionals who are familiar with the complexities of buying property in Andalusia. These long-standing relationships ensure a smooth and legally sound transaction for our clients.
- Transfer Tax (ITP): 7% of the purchase price for resale properties in Andalusia.
- VAT (IVA) and Stamp Duty (AJD): 10% VAT plus 1.2% Stamp Duty for new properties purchased from developers.
- Notary and Property Registry Fees: Approximately €2,000 to €3,000, depending on the complexity of the transaction and property value.
- Lawyer’s Fees: Typically 1% of the purchase price plus VAT. Your lawyer will handle due diligence, contracts, and ensure all legal aspects of the purchase are in order.
- Bank and Mortgage Fees: If you are financing the purchase, you may incur bank fees, including a mortgage arrangement fee (usually 1% of the loan value) and property valuation costs.
- Ongoing Costs: Once the property is purchased, you will also need to account for property maintenance costs, community fees, utilities, and property taxes (IBI).
If you choose to work with us at Turlock Homes as your buyer’s agent, you may be wondering about our fees for this service. The great news is that the commission is paid by the seller of the property you are purchasing. This means that you, as the buyer, do not incur any direct costs for our services, as the commission is typically split between the buyer’s agent and the seller’s agent.
Your lawyer will guide you through these costs and ensure that all fees and taxes are properly calculated and paid.
Sellers in Marbella should be aware of the following costs:
- Plusvalía tax: A local tax based on the increase in the value of the land since you purchased the property.
- Capital Gains Tax: For non-resident sellers, the retention is 3% of the sale price. You may also be liable for capital gains tax, depending on how much the property has appreciated.
- Agent’s commission: Typically 5% of the final sale price.
- Lawyer’s fees: Usually 1% of the sale price plus VAT.
Make sure all property taxes, community fees, and utilities are paid before the sale.
Yes, a Número de Identificación de Extranjero (NIE) is required for all property purchases in Spain, including Marbella. This is a tax identification number for foreigners and is necessary for completing the sale, paying taxes, and opening a bank account. It’s advisable to obtain your NIE as early as possible to avoid delays. Your lawyer will assist you with obtaining the NIE and ensure that all necessary legal steps are taken in time for the property purchase process.
Have more questions to ask?
If you have additional questions or need further clarification on our services, don’t hesitate to contact us. We would love to help you!
STEFAN TURLOCK
CEO / REAL ESTATE AGENT
+34 656 443 468
stefan@turlockmarbella.com
Contact us
- +34 656 443 468
- info(at)turlockmarbella.com
- 296 70, San Pedro Alcantara