Buying a property on the Costa Blanca, whether as a residence, investment, or rental (long-term or vacation), is an exciting decision, but it requires following a series of steps and legal procedures to ensure a secure and hassle-free transaction.
This guide, aimed at both national and international buyers, details the procedures, necessary checks, and how our real estate agency will accompany you at every stage, including the technical verification of the property's condition with the support of a technician of your choice.
1. Define your needs and budget
Before starting, it is essential to clarify your objectives:
Type of property: Are you looking for a residential home, an apartment for rental (long-term or vacation), a luxury villa, an industrial warehouse, or a commercial property?
Location: The Costa Blanca includes locations such as Alicante, Benidorm, Torrevieja, Jávea, Dénia, or Altea. Each has its own charm and price range.
Budget: Consider the property price, taxes, notary fees, registration costs, and potential renovations. As a general rule, add 10-12% to the purchase price to cover these costs.
Our agency will help you: We will advise you to find properties that match your needs and budget, offering exclusive options on the Costa Blanca and connecting you with our team of financial experts if you need a mortgage or financing.
2. Search for the ideal property
Explore the market: Research online, visit real estate portals, and attend property fairs or events. The Costa Blanca is known for its Mediterranean climate, beaches, and tourist offerings, making it ideal for vacation homes or investments.
Property visits: Arrange visits to assess location, property condition, nearby services (shops, transport, hospitals), and appreciation potential.
Professional advice: As a real estate agency with over 15 years of experience on the Costa Blanca, we will guide you in selecting properties, organize personalized visits, and provide the best detailed information about the local market.
Our agency will help you: We will ensure that the properties you visit meet your expectations. Additionally, with the support of a technician from our team (architect, engineer, or surveyor), we will verify that the property is in the condition declared by the seller, checking aspects such as structure, installations, and potential hidden defects.
3. Essential legal and technical checks
Before committing to the purchase, it is crucial to perform checks to avoid legal or technical issues. Here are the key steps:
Property Registry Note: Verify the property's ownership, encumbrances (mortgages, liens), and legal description (square meters, boundaries).
Our agency will help you: We will obtain the Property Registry Note and analyze it with our lawyers to ensure the property is free of encumbrances and accurately reflects the property being acquired.
Certificate of Homeowners' Association Debts: Confirm that the seller is up to date with community fees (if applicable).
Our agency will help you: We will request this certificate to avoid surprises with outstanding debts.
Energy Efficiency Certificate (EEC): Mandatory for selling. Indicates the property’s energy efficiency level.
Our agency will help you: We will ensure the seller provides this document.
Licenses and permits: Check that the property has the first occupancy license (for new builds) or the habitability certificate. Also, verify licenses for any renovations or extensions carried out.
Our agency will help you: We will review all urban planning documentation and licenses with our team of architects and lawyers.
Up-to-date municipal taxes: Ensure that the Property Tax (IBI) and other local taxes are paid.
Our agency will help you: We will check IBI receipts and other taxes with the corresponding town hall.
Utilities: Verify that water, electricity, and gas are up to date and that contracts can be transferred.
Our agency will help you: We will manage this verification with the utility companies.
Technical checks/Inspection: Assess the structural condition, electrical installations, plumbing, dampness, etc. This is especially important for second-hand properties.
Our agency will help you: We will coordinate an inspection with a technician of your choice (architect, engineer, or surveyor) to confirm that the property is in the condition declared by the seller. If issues are detected, we will negotiate with the seller to resolve them before the purchase.
Urban planning: Check that the property complies with the area’s urban planning regulations (General Urban Development Plan). This avoids issues with illegal constructions or future expropriations.
Our agency will help you: We will consult with the town hall to verify the urban planning status and any future plans that may affect the property.
4. Negotiation and offer
Make an offer: Once the property is selected, submit an offer based on the market price and the property’s condition. Include deadlines and conditions (e.g., subject to financing).
Earnest money contract: When an agreement is reached on the sale conditions, an earnest money contract (reservation) is signed with a deposit (usually 10% of the final price).
Our agency will help you: We will advise you during the negotiation to secure the best conditions and review the earnest money contract with our legal team.
5. Legal and financial procedures
a) For national buyers: Mortgage (if applicable): Contact banks or financial advisors to obtain financing. Compare conditions and terms.
Documentation: Prepare your ID, proof of income, and other documents required by the bank or notary.
b) For international buyers: NIE (Foreigner Identity Number): Mandatory for any real estate transaction in Spain. It can be obtained at the Spanish consulate, police stations, or the General Directorate of Police.
Spanish bank account: Facilitates payments for taxes, utilities, and other expenses.
Translation and legal advice: Recommended to understand contracts and procedures in Spanish.
Our agency will help you: We will guide you in obtaining the NIE, opening bank accounts, and hiring a bilingual lawyer if needed.
6. Signing before a notary
Public deed: The sale is formalized before a notary, who verifies the transaction’s legality. Both buyer and seller must be present or represented.
Required documents:
Notary fees: Usually range between 500 and 1,500 €, depending on the property’s value.
Our agency will help you: We will coordinate the notary appointment, review all documentation, and be with you during the signing to ensure everything is in order.
7. Taxes and fees
Taxes: VAT (for new builds): 10% of the purchase price.
Property Transfer Tax (ITP, for second-hand properties): In the Valencian Community (Costa Blanca), it ranges between 3% and 11%, depending on the property type and purchase conditions. Usually, it will be 10% of the final purchase price.
Documented Legal Acts Tax (AJD): Between 0.5% and 2% of the deed’s value.
Registry fees: Registering the property in the Property Registry costs between 200 and 600 €.
Our agency will help you: We will provide a detailed breakdown of taxes and fees and advise you on possible deductions and tax benefits.
8. Registration in the Property Registry
After signing, the deed must be registered in the Property Registry to list you as the legal owner.
Our agency will help you: We will manage this procedure to make it quick and hassle-free.
9. After-sale and moving in
Utilities: Transfer electricity, water, and gas contracts to your name.
Insurance: Take out home insurance to protect your investment.
Moving: Organize the transfer of your belongings or the decoration of your new property.
Our agency will help you: Our exceptional after-sale service will assist you in managing utilities, insurance, and any additional needs, such as renovations or maintenance. We remain by your side even after the purchase.
Additional advice for international buyers
Tax advice: Consult an international tax expert to understand your tax obligations in Spain and your home country.
Currency exchange: Compare exchange rates to minimize costs during payment.
Language and culture: Familiarize yourself with local laws and customs. Our agency offers assistance in multiple languages to facilitate the process.
WHY CHOOSE NOMADA PROPERTIES
With over 15 years of experience on the Costa Blanca, our real estate agency offers a comprehensive service that combines expertise, professionalism, and a personalized approach. Our team of architects, engineers, lawyers, and builders ensures that every step of the purchase process is secure, transparent, and efficient. We specialize in verifying that properties are in the condition declared, working with the technician of your choice to give you complete peace of mind. Additionally, our commitment doesn’t end with the signing: our after-sale service ensures ongoing support for any future needs.
