Buying A Property in La Marina Urbanization Alicante
Watsons Real Estate offer you a range of exclusive properties that you will not find for sale through other agents:apartments, terraced properties, quad properties, semi-detached, detached villas, new build villa, plots of land etc.
Here at Watsons Real Estate we specialise in La Marina Urbanization, making ourselves the local experts. We work very closely with our vendors, enabling us to find your perfect dream home or property investment in the Costa Blanca. Our experienced Real Estate Agents will guide you through the purchase process of finding the right property to signing at the notary, ensuring a smooth transaction.
When making a purchase in a foreign country, we understand your need for accurate information and guidance. It is our policy at Watsons Real Estate, La Marina not to create false urgency to push a client into a sale. Many of our clients come from referrals and we value the importance of a good reputation.
When you have selected the right property in La Marina, we will be there to assist you every step of the way. It is our intention that once you become our client you will remain our client and recommend our services to others. We know the importance of having a friendly contact at the end of a phone to assist you. We work with many other professionals who can offer assistance in the following areas: property legal advice, financial advice, removals and furniture sales.
Step 1: Purchase contract
The signing of the purchase contract is standard procedure when buying a property in Spain, it is used to reserve the property for a specified period of time whilst our Real Estate Agency in La Marina conducts due diligence. Typically, it sets out the basic terms and conditions of the purchase.
Once you have found a Spanish property you like and wish to move forward with the purchase, the first step is to place a holding deposit of 3.000 Euros to reserve and withdraw the property from the market.
Once the holding deposit has been paid, the next step would be to pay the 10% deposit (minus 3.000 Euros) within five working days.
During this time, you may also wish to arrange a mortgage.
Step 2: Opening A Spanish Bank Account
In order to purchase a property in Spain, it is required you open a Spanish bank account. We can arrange this on your behalf.
Step 3: Obtaining Your NIE Identification Number
The NIE number is your all-purpose identification and tax number in Spain for. You need it for everything that involves a procedure or official process in Spain. For example, you will need an NIE number to buy a property, buy a car, get connected to the utilities and most importantly, as far as the Spanish state is concerned, pay your taxes.
If you are not present in Spain, Watson Real Estate can obtain this on your behalf with Power of Attorney (POA).
Step 4: The Completion & Signing at The Notary
The role of the Notary is to ensure that the purchase of the Spanish property you are about to make is lawful and meets with certain criteria laid down by the Spanish government. They will check the property´s deeds to ensure that all parties are represented correctly and that the ownership will be passed to the buyer upon completion either freehold or in conjunction with a mortgage. The Notary is required by Spanish law to witness the payment of agreed money and signing of all relevant documents. The Notary also instigates a second and final search on the property minutes before the deeds are signed. You will receive a “copia simple” of the deed from the Notary.
If you feel you are unable to return to Spain for the completion of the property, you can arrange to leave Power of Attorney with Watson Real Estate.
Buying costs vary depending on several factors, including the purchase price, whether it’s a new build or resale property and whether you’re a cash buyer or buying with a mortgage.
Generally, you can expect to pay 12-13% of the purchase price for a resale property, broken down as follows:
Resale Property:10% Transfer Tax
Under 100.000 Euros – 2.500 Euros include notary, registry and conveyancing fees.
Over 100.000 Euros – 3.000 Euros include notary, registry and conveyancing fees.
New Build Properties:10% VAT
1.5 % stamp duty
Over 100.000 Euros – 3.000 Euros include notary, registry and conveyancing fees.Under 100.000 Euros – 2.500 Euros include notary, registry and conveyancing fees.
Additional costs apply if a mortgage is required
This is one of the first things that people want to know when buying a property in Spain. How long will it take to become the owner?
If all paperwork is in order and finances are in place, the buying process can take as little 2-3 months.
It's often difficult to predict a specific time frame for your purchase, if you have already obtained an NIE number, you can expect completion within 4-6 weeks.
At Watson Real Estate, we always strive to make the buying process as smooth and efficient as possible so that you can enjoy your villa in La Marina in a timely fashion.
*Extensions of contracts can be arranged if both parties are in agreement.
A holding deposit of €3.000 is required to reserve a property. This is paid at the signing of the purchase contract, once both parties have agreed upon a price. You can either pay it via credit card or bank transfer.
Contact Our Estate Agents in Urbanization La Marina – Costa Blanca For Further Guidance
Our Real Estate Agents in La Marina have excellent knowledge of the buying process and buying costs in Spain, they are always on hand and happy to help you. Therefore, if you have any questions or require further assistance with buying a property in La Marina, Benijofar, Ciudad Quesada or southern Costa Blanca, you are welcome to get in touch with our Real Estate Agent in San Fulgencio at any time. Either give us a call on +34 965 063 012 or send an email to email@example.com