91果冻

At 91果冻, our mission is to help you find the perfect home that matches your lifestyle, preferences, and financial goals. With years of expertise and a passion for excellence, we go beyond offering a diverse portfolio of listings. Through our extensive network of trusted brokers and industry professionals, we ensure access to every property available on the market.

• Table of contents
• What Do You Need to Know as a Foreigner Buying Property in Marbella?
• What's a NIE Number and Why Do I Need It?
• Financing Options and Advice
• Understanding the Purchase Process
• What Are The Taxes and Fees on Property Purchase in Andalucia?
• What Are The Taxes on Property Ownership In Andalucia?
• Are You Ready To Buy A Property In Marbella?

You don鈥檛 have to navigate this journey alone. Our personalised approach means your dedicated broker will be your trusted partner throughout the entire process鈥攃urating tailored property searches, arranging viewings, and managing all the legal and logistical details. We aim to make your home-buying experience seamless, stress-free, and enjoyable.

Let us guide you through every step, including understanding the buying process and navigating applicable taxes. Your dream home awaits鈥攍et us help you find it.

What Do You Need to Know as a Foreigner Buying Property in Marbella?

Purchasing property in a foreign country can feel daunting, but our expert team is here to guide you through every step of the process. Here鈥檚 what you need to know:

What's a NIE Number and Why Do I Need It?

This is an all-purpose personal identification number which is also your assigned tax code as a foreigner with activity in Spain. This is the first thing you鈥檒l need to get for official dealings with the Spanish authorities such as: property purchase, tax payments, opening a business in Spain or social security activity. Your lawyer will assist you in getting the NIE number needed to complete the property purchase, which is why we always recommend setting up a Power of Attorney with them so they can get this and sign all other documents for the property purchase on your behalf where needed. We have relationships with experienced lawyers we are happy to put you in contact with.

Learn more about the NIE process here.

Financing Options and Advice

For many buyers, obtaining a mortgage is an important step in the property purchase process. We recommend securing financing before starting the buying process. Your bank can issue a loan guarantee, stating how much financing they will grant you on your purchase ahead of time. The benefits of pre-approval is that sellers are more likely to take your offer seriously if you have financing pre-approved. It shows you're a serious buyer who has the means to complete the transaction. With financing already in place, you can move quickly when you find the right property. In a competitive market, this can be the difference between securing your dream home or losing it to another buyer. Pre-approval gives you a clear idea of your borrowing capacity, so you can focus on properties within your budget and avoid wasting time on those out of reach.

• What to Expect: Non-residents in Spain can typically finance up to 70% of the property鈥檚 value. Banks will require documentation such as proof of income, tax returns, and credit history.

Explore our mortgage guide for non-residents.

Understanding the Purchase Process

The buying process differs slightly depending on whether you are purchasing as an investor or for private use. At the end of this buying guide we will go over how taxes differ depending on if you're an investor or a private buyer. At 91果冻, we believe:

• Investors: Lead with your head to ensure the best returns.
• Private Buyers: Lead with your heart to find your dream home.

Here鈥檚 an overview of the key steps:

Reservation Contract

The reservation contract is signed when placing a reservation fee on your chosen property. The fee is subject to the purchase price, but generally around 1% of the total price. The transfer will be made through the lawyer鈥檚 client account, and this will ensure that the property is taken off the market for a set amount of time, often around 14 days. Your legal representative and agent will be monitoring the process all the way through. The reservation contract is not legally binding, so there is minimal or no financial penalty for backing out, though the reservation fee is often non-refundable.

• Secure your chosen property with a reservation fee, typically 1% of the purchase price.
• This ensures the property is taken off the market. The fee is held in escrow by your lawyer.

Due Diligence

Due diligence is done after signing of the reservation contract. Some of the points to be checked include: the current legal status of your property, making sure the property is free of debt, ensuring that there are no outstanding debts on the utilities and the existence of planning permission if you are planning an immediate extension or modifications to the property.

• Conducted by your lawyer over a set period of time, usually around 14 days.
• Includes verifying legal status, debts, utilities, and planning permissions, ensuring the property is free from encumbrances.