Buying process – new build property:

Step 1: Discuss the property and all its possible options or implementation options, payment steps and deadlines. Ask for any adjustments in it to be able to make the purchase.

 

Step 2: After a thorough discussion of all possibilities, a reservation agreement is drawn up which, together with the reservation fee, which varies between €6,000 – €10,000, ensures that the property is removed from the market of all estate agents who have it in their portfolio. (NOTE! Sometimes it goes directly to step 3 with new construction). The reservation amount is then deducted from the total amount at final payment.

 

Step 3: Preparation of a so-called ”Compra Venta”, i.e. a purchase agreement. Between the reservation of the property and the drawing up of this document, all inspections of the property should have been carried out. This agreement forms the basis of the notarial document

 

Step 4: An appointment is booked with the notary and the deed is signed by all parties or power of attorney holders and the keys are handed over to you.

Purchase costs – new build property:

With a new build, a number of costs are added:

 

1. IVA (tax): 10% IVA

2. Stamp duty: 1,5% i Alicante / 2% i Murcia

2. Small costs*: ~ 4000


*These small costs include notary fees (approx. €1200), the cost of your gestor / lawyer (approx. €1500), N.I.E number application (approx. €150), transfer of tools etc. (approx. €350 – €550), power of attorney (approx. €175), administration costs (approx. €365), etc.

Example costs in the province of Alicante:

Property purchase price:

200 000, 00 €

IVA:

20 000, 00 €

Stamp duty 1,5 % (Alicante):

3 000, 00 €

Small costs:

  4 000, 00 €

Total:

227 000, 00 €

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