Sale / Purchase: We are seeking the best property for you on the Costa del Sol.
Property management: We can take care of the management of your apartment or villa if necessary. Short term rental with full service at your disposal. Do not hesitate to ask us for more information.
Renovation work: Our team of professionals offer you all types of renovations of high quality adapted to the tastes of each.
Lawyer / Notary: We work with the bigest law firms that speak your language to advise you and represent you until the acquisition of your property, they also accompany you to the notary. They are also at your disposal later if necessary for all types of procedures.
Administration: We are also at your disposal to guide you and assist you in all your administrative procedures and installations as a resident or non-resident. Obtaining your NIE number, opening your bank account in Spain and if necessary, A mortgage loan up to 70% maximum for non-residents.
At Phoenix Properties Marbella, our professionals will be able to recommend independent legal and financial advisors to help you feel comfortable with all phases.
Once you have found the perfect property on the Costa del Sol and have decided that you want to go ahead with the purchase, the next step would be for Phoenix Properties to establish a “reservation contract”.
What is a reservation contract?
As a general rule, the booking contract would establish the basic conditions of the purchase and would then be approved and signed by the buyer and the seller. This is a temporary booking document. Such a document would include:
Full name of buyer and seller
Address of the property Date to sign a “private purchase contract” Other special conditions (subject to financing) Deposit amount placed to reserve the property A deposit of 6000 euros will guarantee the property while the “due diligence” is conducted. This deposit can be paid by credit card or bank transfer, it can be taken into account in the client of the company Phoenix Properties or with a lawyer of your choice. The 6000 Euros are used to reserve the property while your lawyer conducts the due diligence and you can also inquire for a mortgage during this period. This booking deposit is fully refundable in the event that your attorney finds legal obstacles to the property. If you continue to purchase after due diligence 6000 euros will be used for the purchase price.
What happens next?
Once your lawyer has conducted thorough and thorough due diligence, he / she will inform you of their results and discuss moving on to a private purchase agreement if any.
What is a private purchase contract?
A private purchase contract is a contract between the consumer and the seller, again put in general the terms and conditions of the contract. The contract will be prepared by your lawyer and will contain: A legal declaration of the seller that he / she is legally placed to sell the property, respectively the exact address and dimensions of the property and its features set out in the government registration “referencia Catastral” of the property. The date of completion and delivery of the keys etc Agreed terms and conditions, as agreed by the consumer and seller The cost of purchase in Spain varies from 10% to 13.5% of the purchase price, distributed as follows: 10% IVA (VAT) on new construction, 8% to 10% IVA (VAT) on existing constructions according to the price category. 1% notary fees (notarization of the cost of the property) 1% of legal fees (fees charged by your chosen solicitor for due diligence 1.5% tax stamp duty (tax charged to make all documents legally in force) For any additional help on buying a property in Spain, contact us.