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Buyer's Guide Costa del Sol

Buyer's Guide


Here at McVeigh estates, our team of professional property experts are committed to going above and beyond to ensure your search for a new home is as relaxed and straightforward as possible. We believe it is important you know what to expect when buying a property on the Costa del Sol, so here we have outlined the Buying Process so you’ll know what’s ahead of you, every step of the way.

Reservation Document


After we help you find your perfect Costa del Sol property, and the price and conditions are agreed, the next step is be to secure it with a Reservation Document which will be signed by both parties and legally reserve the property for a set period of time whilst your lawyer conducts legal checks on the property.

At this point you, as the buyer, will pay a deposit of usually €6000 (non-refundable unless your lawyer should discover any legal restrictions relating to the property), which will guarantee that the property is withdrawn from the market by the vendor. This is the point you may choose to arrange the mortgage, if necessary.

Outlined within the Reservation Document will be a time frame for completion. If the completion is within 30 days then the next step is usually to sign the deed by a public notary.

If the agreed completion will be later than 30 days the normal protocol will be to sign a Private Purchase Contract and pay 10% of the price (minus the €6000 deposit already paid).

Private Purchase Contract


  • The Private Purchase Contract is a legal document prepared by your lawyer, between the buyer and the vendor, it will outline:
  • The legal declaration from the vendor that that they are legally positioned to sell the property.
  • The terms and conditions of the sale.
  • The exact dimensions and features of the property, including address, dimensions and Spanish Official Property Registry Reference Number.
  • Date of Final Completion and keys handover.

Approximately 3 to 4 weeks following the signing of the Private Purchase Contract, completion will take place at Notary. At this point the Title Deed of the property is signed (Escritura) and the remaining balance of the buyer’s purchase amount, plus any taxes and costs, will be paid.

Taxes payable by the buyer


  • 10% VAT (IVA) on new properties.
  • Transfer Tax on resale properties on a sliding scale of 8% - 10% depending on the price.
  • 1.5% Stamp duty (only for new properties)
  • 1% Lawyer’s legal fees
  • 1% Notary and Land registry fees
  • 1%-3% Average mortgage commissions to set-up finance with a Spanish bank

And the very last stage? Collect the keys to your new property and start enjoying your new dream home in the sun!

For further assistance on buying a property in Spain, please contact us directly: info@mcveighestates.com, phone: +34 952 562 407