Buying Your Home
Discover how to buy your home in Javea and in the Costa Blanca step by step.
Choosing your homeViewings are normally conducted on a one-to-one basis with your agent. Try to have a clear idea of your requirements and budget. When viewing properties be frank and honest with your feedback - this will help prevent wasting your valuable time. Don´t be afraid to ask lots of questions and take notes if you can.
Agreeing the price
Once you have decided on a property, make an offer to the vendor through your agent. It may require several approaches before an agreement is reached. At this stage if you have not already done so, it would also be prudent to apply for your N.I.E. numbers, without which you cannot buy anything of significant value in Spain.
Arranging a Mortgage
If you require a mortgage to help secure your new home, we will be happy to assist you to secure finance. We have extensive experience and contacts within the banking community and will ensure you are offered the best mortgage rates for your needs.
Making a deposit
When you have agreed a price, it is normal to make a reservation deposit (usually between 3,000€ to 5,000€). This ensures that the property is taken off the market whilst preliminary searches are being done and contracts drawn up. This usually for a period of 10 to 14 days. If any problems are found with the searches then this deposit is returnable, but not if you simply change your mind.
At some point you will need to obtain an NIE number. We can help you with this. Read more about NIE numbers and how to get them here.
Whilst purchasing a property in Spain is not difficult, we do insist that all clients appoint an independent Lawyer (Abogado). This Lawyer will take care of you and assist you through the complete buying process. There are many excellent English-speaking Spanish Lawyers in the area for which we can provide contact details.
Once the preliminary searches have been done and the purchase contracts drawn up, you will be required to pay a total deposit equal to 10% of the purchase price. The contracts are usually in Spanish and English but your Lawyer will ensure that you have a full understanding of the contract and the process.
Finally on the appointed day (usually 4 to 6 weeks from making the deposit). Your Agent and Lawyer will accompany you to the Notary office for the signing of the Title Deed (Escritura). You will make the final payment to the Vendor who will simultaneously pass over possession of the property to you, handing you the keys. The Notary will pass the details of the new Title Deed to the Land registry who will record the details of the new owner.
Fees and Taxes
If you are buying a resale property, then a Transfer Tax of 10% will be charged. Other fees will be charged for the Notary and Land Registry, these fees are based on a sliding scale depending on the price of the property (about 0.5% for both). Your Lawyers fees (approx 0.5%) will also be payable at completion. It is wise to budget for 12%-to-13% (if you buy without a mortgage) if you buy with a mortgage there are additional set-up costs and fees associated with the mortgage deeds which will be on top of the original purchase price (your mortgage provider will advise you of these costs). Read more detail about this here.