Buying

Sure Fortune can help you all the way, below is a quick description of the process of buying, but rest assured, we will give you much more information when you contact us!

Starting with the conclusion, finding an agency that you trust will save you a lot of time and stress. We at Sure Fortune are here to help, we can also assist with accommodation and transports when it is time for a few days of viewings. Before that we can also provide video viewings on properties that you are interested in.

Finding the object

Obviously the first step is to find the right property. All serious agents are part of the same networks and can present about 90% of all properties on the market. This means, instead of browsing hundreds of websites, build a connection with our Sure Fortune team, tell us your wants, needs, budget etc. We will be with you all the way, using our local knowledge and language skills to help you end up with the property of your dreams!

So believe there is really no need to contact more than one agency. When you work this way, the seller covers the agent’s fees, making this a safe and efficient way to purchase your property whatever it is for!.

A large part of our job is to educate you about Costa del Sol. Unless you already live here there are many differences between Málaga and Manilva. Even if you have visited as a tourist, there are many shades to consider when choosing a property.  This is not only about price, but what type of society you like. The difference is often bigger than many people tend to think. 

We can also assist you in getting a NIE, that is a kind of social security number for foreigners in Spain, moving forward it will be necessary in each step.

Purchase process

  1. Negotiation – Having found the property you make an offer and we help you to negotiate with the seller’s agent or directly with the seller if it happens to be our own listing.

  2. Reservation Contract – Having come to an agreement, you sign a reservation contract that solidifies agreed-upon sales conditions, such as purchase price and inclusion of furnishings.

    A reservation deposit is paid to secure the property for a set period, during which legal and technical assessments occur. If any issues arise, the deposit is refunded. The deposit can be anything, but is usually €6.000

    This also takes the property off the market.

  3. Lawyer – You then have to engage a lawyer. We can advise a trusted firm that has a good reputation and works in the area you are buying. But you are free to choose anyone. The cost for the lawyer is normally about 1% of the purchase price, but of course negotiable.

    The lawyer will then start a Legal Due Diligence & Technical Survey.  Verifying property status and managing formalities. Simultaneously, a technical survey ensures structural integrity and identifies potential issues. Based on findings, your lawyer advises on proceeding and drafts the purchase contract.

  4. Private Purchase Contract,  your lawyer together with the seller’s lawyer, prepares the private purchase contract, detailing sale conditions and payment terms. A downpayment, (usually 10% of the agreed purchase price )  including the earlier reservation deposit, is made upon signing, marking a binding agreement.
  1. Notary – Signing the Purchase Deed.  Completion always occurs at a notary public, where the purchase deed is finalized. Your lawyer oversees the process, ensuring accuracy before signing. Payment of the remaining purchase price is facilitated, typically via bankers draft or bank transfer. The notary fee is usually around €1.000

  2. After Sale – Following completion, your lawyer handles tax declaration, title deed registration, and owner name changes. If absent, a power of attorney can authorize representation for these tasks. It might also be handy to engage the lawyer or our team to transfer utility bills and community fees etc.

Costs for the buyer

The cost for buying a property in Spain, apart from the purchase price, varies in different regions in Spain. In Andalucia, this is what you can expect.

  • For second-hand properties, buyers pay the Property Transfer Tax (ITP) of 7%
    Example: A €500,000 property will incur €35,000 in ITP. This tax must be paid within 30 days of signing the deeds.

  • For new properties, when buying directly from a developer the buyer pays VAT and Stamp Duty:
    • VAT: 10% of the purchase price.
    • Stamp Duty: 1.2% of the purchase price

      Example: A €200,000 property would cost €20,000 in VAT and €2,400 in stamp duty.
  • Lawyer fees, the lawyer as described above is necessary. Of course the price is negotiable but 1% of the purchase price is the standard.
  •  Notary fees, the notary is mandatory and ensures legal ownership transfer and prepares the title deeds. Your lawyer and the seller’s lawyer will decide which notary to use.

    Cost: Around €1,000

  • Land Registry Fees, is the cost of registering your ownership at the local Land Registry Office.

    Typical cost: €700-800 per entry. Properties with extras like a garage may require multiple entries but often get discounts

  • Banking costs, totally separate and not regulated. All open to negotiation, as an agency we can easily set up appointments with a number of banks to discuss.

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