BUYERS GUIDE

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Gaucin Property
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​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​Generally you will find you get more for your money the further inland you go so it is worth spending a bit more time having a look around and compare what properties there are available before you make a decision to buy in a specific village or area.  Start with an open mind and keep your options open! 

Buying property in Spain should be relatively straightforward but we always recommend that you engage the services of a  lawyer. 

When you have found a suitable property and an offer is accepted a ‘reservation deposit' is usually paid to your lawyer normally a minimum 3000€ or 1% of the purchase price depending on the price of the property.  This deposit removes the property from the market while your lawyer checks that everything is in order, if your lawyer finds any unexpected problems your deposit is refunded back to you.  If you just change your mind and decide you do not want to continue with the purchase of the property you will lose the deposit. 

Your lawyer will give legal advice at each stage of the process and can assist with formalities such as obtaining a tax number/NIE - opening a bank account - setting up direct debits - applying for a mortgage. If you are not living in Spain you can give Power of Attorney to your lawyer to sign on your behalf.

Any non-Spanish buyer must apply for an NIE number, this can be done at the ‘Policia Local’ in Ronda.  This number is required for any property transaction (buying, selling, utilities, insurance, etc.)

If all is well the deposit will be transferred to the owners lawyer.  Your lawyer will then proceed to draw up a Purchase Contract stating all conditions of sale. At the signing of this contract 10% deposit is due to be paid.  Completion will then follow on an agreed date when the remainder of the purchase price is paid and all parties and/or legal representatives are present for the signing of the Title Deed at the Notary.  Your lawyer will take care of remaining formalities such as payment of transfer taxes.

In addition to the purchase price you need to pay transfer tax, lawyers fees, notary fees and registry fees, these costs are paid by the buyer and a budget of approximately 10-11% on top of the purchase price should be taken into consideration when calculating the overall cost of purchase. Your lawyer can advise you  further as to costs.

A purchase can normally be completed within 60 days although if a mortgage is required it may take three months.  If the purchaser applies for a mortgage on the property, there will be approximately 3% additional expenses. 

The seller will pay his own Capital Gains Tax and the estate agents fees.

This is a general guide only and not intended to have contractual effect
You should obtain legal advice from a qualified professional

​​​​SALES OFFICE:    Opposite the Papeleria 
No 9 Bajo
Calle San Juan de Dios   
(was - Calle del Corral )
​Gaucin
29480​
Spain

​George Godoy
Tel: +34 674 567 616​
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