Info buyer
General information before buying in Spain
Annual costs of your property
Detached villa with a pool:
- Insurance - depends on property and contents
- Annual IBI (Property Tax) approximately € 1,000
- Pool maintenance about € 800 to € 1,000 per year
- Garden maintenance about € 900 per year (depending)
Bungalow with a communal pool:
- Insurance - depends on property and contents
- Annual IBI (Property Tax) approximately € 600
- Pool maintenance is included in the community fees
Apartment:
- Insurance - depends on property and contents
- Annual IBI (Property Tax) approximately € 300
- Community fees*
*Community fees range from € 50 to € 150 per month.
These differences arise because some communities are large, others small, some have lifeguards, expensive gardens to maintain, tennis courts, while others have none. Sometimes even water consumption is included, so it always depends on the case, and it's important to know what is or isn't included. We, of course, know all these details for each property.*
The purchase procedure in Spain and the role of your real estate agent
If you have found a property and wish to buy it, and the price has been negotiated with the seller, the procedure is as follows:
Once we have a copy of your identity cards and address details, we can draw up a reservation-purchase contract (you can, of course, later choose the purchase formula you want: in one or two names, bare ownership/usufruct, in the name of a company, or other...)
Subsequently, you pay a reservation fee of € 3,000 (purchase amount < € 300,000) or € 5,000 (purchase amount > € 300,000) to the third-party account of Cobat Costablanca SL. Once this is done and the reservation contract is signed, the property is "off" the market, and the searches for the property begin.
We perform the necessary legal checks, of which we, of course, provide you with a copy (e.g., nota simple, extract from the cadastre, proof of tax payment for the previous year, etc.).
If the results are satisfactory, the purchase contract is drawn up for signing by buyers and sellers, and the 10% deposit must be paid (minus the reservation fee already paid earlier).
The balance is paid at the time of signing the authentic notary deed by bank transfer or bank cheque. Immediately after signing, you receive a copy of the deed and are fully the owner of the property.
After the notary appointment, Cobat Costablanca SL takes care of registering the deed in the property register. The associated costs are:
- 10% registration tax or 11.5% for new construction
- Approximately € 3,500 to € 4,000 for notary, property registry, gestor costs, etc.
Within 2 to 3 months of purchase, your registered deed is available with us.
On the day of the deed, we also take the necessary action for the name changes for water, electricity, etc.
Our pre-sale and after-sale service assists you with our contacts for:
- Home insurance
- Garden and pool maintenance
- Other maintenance and repairs, cleaning service, etc.