Buyers information

You have found your ideal property. You are ready to take the next step... What does that involve?



First of all you will sign a reservation contract. This means that the property will be taken off the market. You will transfer the reservation fee to the escrow account of the agent. This money will not be handed over to the vendor until all the legal searches are confirmed. Usually this will be 3000 euro, sometimes a bit more. In general, this contract is valid for three weeks but a different term can be mutually agreed upon.

What is mentioned in this contract? All data of buyer and seller, a description of the property, and the term of validity of the contract. Extra clauses can be added for instance about the furniture etcetera.

Lovesol Inmobiliaria works with a trusted local lawyer that will have an answer to all your questions during this process. With a lawyer you always have the peace of mind that everything is in order. They will check all the paperwork even more thoroughly and safeguard that the property is free of debt. In other European countries this is done by the notary, in Spain it is not. Thats why Lovesol Inmobiliaria always works with a Lawyer who has connections with local legislators and tax departments.

Once the deposit is paid you will need to apply for an NIE number. Our lawyer will help you to get a Spanish tax number (called a N.I.E.), to open a bank account if you wish and he will draw up the sales contract.

If it appears that, after thorough investigation, the documents are not satisfactory or another unsolvable problem has arisen, the reservation will be annulled and the reservation fee will be refunded to the buyer. No sales contract will be signed and the deal is off. We are happy to say this barely ever happens, because our lawyer will almost always be able to find a solution to a problem.

Please remember to add around 12% for buying costs to your villa purchase price.


After all documents have been checked and approved, the preliminary sales contract will be signed by both parties. This is when the buyer pays 10% of the price agreed upon, minus the reservation fee. This contract stipulates all agreements and legal aspects of the deal made, as well as the date for the signing of the deed, often already one month later.


The sales contract and the actual transfer of ownership. The title deed will be signed at the notary and the outstanding amount will be paid. You will be handed the keys to your new property! The deed will be registered at the registration office so the tax department is informed about the transfer of ownership. All utilities will be transferred into your name.


Time to make your property your new home in the sun!


Total cost of purchase - Resale

After selecting a suitable Costa Blanca property, it is necessary to calculate for the following taxes and fees, apart from the purchase cost of the property.

  •  - Transfer Tax (I.T.P. Impuesto de Transmisiones Patrimoniales) 10% of the purchase price.

  •  - Notary and Property Registry fees. About € 2.000

Total cost of purchase - New construction

The purchase of a new construction has a slightly different tax and fee structure to the purchase of a resale property:

- Value Added Tax (I.V.A. Impuesto Sobre valor Añadido) 10% of the purchase price.

- Stamp Duty (Impuesto Documentos) 1,5%

- Notary and Registry fees. About € 1.500

In both cases the agency commission is included in the sales price. Should a lawyer be employed this will be an variable extra cost depending on agreement.

Extra mortgage costs

The extra expenses of a mortgage are about 2,5% of the loan to include:

- Property valuation

- 1,5% mortgage liability

- An opening fee.

- Notary and Registry fees.

- Administration fee (Gestoria)

There is also an obligation to take out a Multi-Risk Home Insurance or possibly a minimum of fire insurance to cover the building (not contents).