Process of buying real estate on the Costa Blanca

  • after agreeing on the purchase price, a reservation fee of typically €5,000 is paid to take the property off the market.
  • A legally binding purchase contract is created between seller and buyer. Upon signing this contract, 10% of the purchase price (minus the reservation fee) must be paid (for new builds, payment schedules vary).
  • Obtaining all necessary documents (tax number, bank account opening, etc.)
  • Notarization and payment of the remaining 90% through Spanish bank checks. Handover of keys at the same moment. The property can be used immediately.
  • Transfer of utility providers (water, electricity, taxes, etc.)
  • Payment of acquisition costs
  • Registration of the purchased property at the competent Land Registry.

Important information for you as a buyer

  • Should the buyer change their mind and no longer wish to purchase the property, they lose their reservation deposit.
  • Should legal problems arise with the property that cannot be resolved, the buyer receives their reservation deposit back.
  • The buyer does not need to be present in Spain for the deposit payment or signing of the private purchase contract, however presence is mandatory for the notarial deed and can only be replaced by a notarial power of attorney.
  • Acquisition costs are borne by the buyer and amount to between 11% and 13% of the purchase price depending on the property. These mainly include notary fees, land registry registration, property transfer tax (10%) (ITP). If no ITP applies, the buyer pays VAT (IVA) of 10% plus 1.5% stamp duty.
  • Our service is free for the buyer, as on the northern Costa Blanca the seller pays the commission.
  • The notary in Spain does not have the same function as in Northern or Central Europe (detailed property inspection). In various cases, consulting a lawyer would be advisable.

Don’t worry if the property is encumbered with a mortgage – the notary will ensure that the authorized representative of the relevant bank is present to receive the check for the remaining debt and cancel the mortgage through notarization. The notary blocks any possible registration at the Land Registry for the property being purchased so the buyer can be sure the property is free of mortgages.

The Brokerage Commission

The regulation for commission payments varies from region to region in Spain and can differ both in amount and payment method.

For example, in the city of Valencia, they work with internal and external commissions in equal parts. This means you as the buyer and the seller typically each pay 3% brokerage commission plus VAT.

On the northern Costa Blanca, however the brokerage commission is paid entirely and in full by the property seller.

This means that when purchasing a property in our region, no commission costs arise for you.

Our services are therefore free of charge for you as a potential buyer.

Please contact us if you have any questions. We are happy to advise you!

Required documents for notarization:

  • valid identity card/passport
  • NIE number
  • Bank account (for transferring basic utilities for water, electricity, etc.)

Our new build villas – we’re happy to support you with planning!

Take a look at one of our new projects and watch the video or visit our property listings.

Our Property Listings
Calle Lago Ontario, 48 · 03730 Jávea · E-Mail: mail@costablanca-exclusive.com
  • 0049 2241 / 146 700 0