Buyers Guide

A basic guide to purchasing property in Spain:

  • Establish your budget to include closing costs and whether you will need a mortgage or alternative financing. 
  • Contact Agents to discuss your property requirements and we will send you a portfolio of suitable properties. Once you have arranged to visit we will show you properties matching your criteria. We will not waste your valuable time on showing you unsuitable properties !
  • Once you have decided on the right property and the price has been agreed, we will take you to a reputable lawyer. It is always, without exception, advisable to use the services of a law firm and any payments should be made via the appointed lawyer. Normally, a 10% deposit is required but before the deposit or any monies are paid over, the lawyers will ensure that they are satisfied with the terms and conditions of the sale and that a legal search is made on the property. A legally binding Purchase Contract will then be drawn up and a completion date agreed.
  • When the completion or final stage payment date has arrived, your lawyer will accompany you or your legal representative along with a member of our staff to go to the offices of the Public Notary where all transactions in Spain are duly notarised and given the stamp of approval. The keys to your new property will then be handed over to you. Your lawyer will arrange for electricity, water and service contracts to be put into your name and standing orders from your bank will be set up.

Once you are the owner of a property in Spain, Michael Lane Associates are able to assist you with after-sales services such as furnishings, decoration, management and rentals. We can offer advice on most matters relating to living in Southern Spain, including information on schools, medical facilities, work, golf club memberships etc.

Costs for purchasing a property in Spain

Resale – This means a property that has an existing Title Deed. On top of the purchase price you need to take into consideration the following costs :-

  • Transfer tax (Andalucia) between 8% to 10% depending on sale price.
  • Legal fees from 0.75% plus 1% VAT (IVA).
  • Notary and registration fees payable to the Public Notary. These are normally 1,000 - 1,600€ depending on the value of the property.
  • If you are taking a mortgage, the arrangement fee from the bank plus the registration fee to the Public Notary to register the mortgage in the Town Hall.
  • Brand New Property – This means a property that has never been registered into an owner’s name or occupied. On top of the purchase price you need to take into consideration the following costs :-
  • New Properties 10% VAT (IVA).
  • 1% legal fees to the lawyer plus 21% VAT (IVA).
  • 1.5% stamp duty.


For further information on all legal aspects of living and purchasing a property in Spain, we recommend:

Francisco Dopico and Carlos Llanos Plazas Abogados Tva. Carlos Mackintosh Edif. Puerta del Mar
29600 Marbella Malaga, Spain

Tel: +34 952 82 80 51

Fax: +34 952 82 95 13