5-Step Guide to Buying Property on the Costa del Sol
Purchasing property in Spain, especially on the prestigious Costa del Sol coast, is an exciting decision – but also a process that requires proper preparation. Whether you’re looking for a luxury villa with sea views or a modern apartment in the heart of Marbella, this guide will help you navigate through all stages of the purchase without stress and surprises.
Step 1: Planning is key!
Determine your budget and additional costs The first step to a successful purchase is clearly defining your budget. Remember that in addition to the property price, you should add about 11-14% in additional costs – including taxes, notary fees, and lawyer fees.
Learn more about purchase costs
Obtain an NIE (foreigner identification number) and open an account in a Spanish bank
Every foreign property buyer in Spain needs an NIE (Número de Identificación de Extranjero) and a Spanish bank account. This is necessary for signing the contract, connecting utilities, or purchasing insurance. All formalities can be completed in person in Spain or through a lawyer with power of attorney.
We collaborate with law firms that perform these procedures on a daily basis, so if you need to use their services, we will connect you with them.
Step 2: Assemble your trusted team of experts
Why is it worth hiring a real estate agent when buying?
- Access to off-market listings The best properties rarely appear on portals – a premium agent has access to exclusive offers available only to select clients.
- Saving time and energy Instead of browsing hundreds of listings and scheduling random visits, an agent selects only those properties that truly match your needs.
- Negotiations in your favor An experienced agent knows how much a property is really worth, sees its advantages and potential disadvantages, and will help negotiate the best price and purchase terms.
- Knowledge of the local market and procedures The agent knows market realities, trends, and local regulations, which translates into transaction security.
- Network of proven professionals A good agent works with trusted lawyers, tax advisors, architects, renovation companies, and rental management firms – you don’t have to search for them.
- Full support from A to Z From the first conversation, through viewings, formalities, to finalizing the transaction – the agent guides you through the entire process, eliminating stress and risk.
- Insider knowledge of locations The agent will help you understand which neighborhood best suits your lifestyle – even if you’re not familiar with the region.
At La Fuente Company, we offer comprehensive transaction support, so we are with you from the first contact to handing over the keys.
But often after signing the documents, agents disappear into thin air, don’t answer calls, and don’t respond to emails…
That’s why in our agency, we guarantee that we will always listen to you and help you with post-purchase matters, even when our formal cooperation has ended.
Learn more about us
Step 3: Viewings and strategy
Organized, individual presentations
On the Costa del Sol, property viewings are conducted in the company of an agent who will share knowledge not only about the house but also about the neighborhood, sun exposure, development plans, and investment potential.
Tailored to your lifestyle
We will organize personalized visits for you, narrowing down the selection to properties that truly match your expectations. And when the dream place appears – we’ll help you make an effective offer and negotiate the best terms.
Step 4: Reserve the property
Reservation and deposit payment
After accepting the offer, a reservation agreement is signed, and the buyer usually pays 1% of the property value. This secures exclusivity and blocks the offer on the market. In case of withdrawal, this amount is usually non-refundable, unless otherwise agreed in advance.
Legal status check and valuation
The lawyer conducts a full legal analysis of the property. If you need financing, an independent appraiser will perform a valuation.
Then – usually within 7-14 days – a preliminary agreement is signed, which involves paying 10% of the total price (taking into account the deposit already paid).
Step 5: Finalization and key handover
Signing the notarial deed
In the final stage, both parties – or their representatives – meet at the notary to sign the property transfer deed. At this point, the remaining amount is paid, as well as the due taxes.
After signing the contract, you receive the original notarial deed, invoices, and… the keys to your new home.
As everywhere, property maintenance involves fees. To have full awareness of how this looks on the Costa del Sol, see our article on property ownership costs.
Congratulations on your decision and the new chapter in your life
Purchasing a property is just the beginning. At La Fuente Company, we remain at your disposal even after finalization – helping with administrative matters, interior design, rental, and even after-sales service.
Looking for your dream property on the Costa del Sol?
Contact us – we will guide you through the entire process with class, discretion, and full professionalism.