Finding and Buying a Property
Marbella is renowned across the globe for its exceptional real estate market. Luxury isn’t just a word here, it’s a lifestyle. Whether classic or contemporary, properties in Marbella blend elegance, cutting-edge design, and prime locations to deliver the highest standards of living.Thanks to its ongoing popularity, villas, townhouses, and apartments in Marbella and its surroundings continue to hold strong market value, offering excellent investment opportunities with long-term returns.
Accessibility is another key advantage. Marbella is just a short drive from two international airports, with direct flights from major European cities typically under 3 to 4 hours. Combined with a relatively low cost of living, this makes the city an incredibly attractive place to invest and settle.
Marbella offers an exceptional quality of life all year round. With its unique microclimate, stunning beaches, modern infrastructure, top-tier international schools, fine dining, luxury boutiques, and world-renowned golf courses, the city has something to offer every lifestyle. Whether you’re seeking a vacation home or planning a permanent move, Marbella is the ideal destination to elevate your living experience.
The first step is to clearly define your needs and preferences. Are you drawn to a traditional townhouse, a spacious beachfront villa, or a sleek, modern penthouse? Would you prefer a brand-new property or a resale? And which area do you feel would best suit you and your family’s lifestyle?
Choosing a Lawyer
Smirnoff Consulting recommends to hire a professional lawyer to represent you when you purchasing a property.
Please note, that once you have made a decision to purchase the property in Costa del Sol/ Marbella, even you didn’t find yet your dream home, start to contact and establish a relationship with the lawyer while you are in Marbella, not to loose time. This could be very useful if you need to start negotiating a purchase.
When you have a lawyer, NIE personal number, Spanish bank account opened, when the right property has been found, you can start negotiating the price and put down reservation deposit straight away if the offer is accepted.
Negotiating the Price
Your agent will be very helpful in this process. But important to know that your offer is too low it will pull back the interest of the seller and might be real down the deal.
And opposite, if your offer is realistic it will take attention of vendor. We recommend to write all your remarks and points, make your offer, amount of deposit, dates of completion, special requirement as included furniture, that all technical equipments should be in a good condition. If you have a second choice property you should also let the vendor know about that. All this details are extremely useful when negotiating a purchase price.
Your lawyer has to be informed in all actions you make and he will help you with this process.
The Purchasing Process
Step 1: Reservation Contract.
Once you’ve found a property you wish to purchase, the first step is to sign a reservation contract. This is a standard procedure when buying property in Spain. The contract secures the property for a specific period while your lawyer carries out due diligence.
The reservation contract outlines the basic terms of the purchase and typically includes:
– Full names of the buyer and seller
– Agreed purchase price
– Property address
– Target date to sign the private purchase contract
– Any special conditions (e.g. subject to financing)
– Reservation deposit amount.
The purchasing process in Spain is clearly set and standard. The Property Register giving all the information about property, who owns the property, does the property any fees, debts or encumbrances. After that has to be sign the Private Contract (unless an immediate payment of full purchase price) where written all details of the purchase- purchase price, form of payment, date of completion etc. The deposit id usually is 10% of the agreed purchase price and the day of completion within 30 to 60 days.
Step 2: Private Purchase Contract
Once your lawyer has completed a full and thorough due diligence, they will share their findings with you. If you decide to proceed, the next step is to sign a private purchase contract. This is a legally binding agreement between you (the buyer) and the seller, which clearly outlines the terms and conditions of the sale.
Typically prepared by your lawyer, the contract includes:
– A legal declaration from the seller confirming their right to sell the property
– The property address
– The exact size and features of the property as registered in the official “referencia catastral” (government land registry)
– The agreed completion date and handover day This contract ensures both parties are protected and committed to completing the transaction.
When the all amount is paid for the property, the seller will issue the public deed of conveyance to the purchaser, free of any debts. This deed is issued before by Notary, then passed from Notary to the tax office and the last step it has to be presented to Property Registry for inscription.
