Living in Moraira and Buying in Spain

Whatever your idea of an ideal home, chances are the northern Costa Blanca will have have something to surprise and delight you. Here, your choices range from luxurious villas with private pool to resort-style apartment complexes boasting communal amenities. From quaint townhouses in the pueblos to rustic Spanish farm-houses.

The Costa Blanca truly has something for everybody.

The type of property most suited to you is largely driven by your individual requirements: A holiday retreat or a comfortable retirement home? A permanent home for your family or perhaps purely an investment? Whatever your motivation or requirements you will find it here.

Defining you and your families needs and preferences is the first step in choosing your ideal property. Use our search facility to view a small selection of pre-owned properties currently on our database. For in depth information, please contact us with your specific requirements.

Purchasing Procedure in Spain

The procedure varies depending on whether you wish to purchase from a new development or a resale property. In both cases, when you have found the right property, the process begins with a reservation agreement which takes the property off the market and, very importantly, freezes the purchase price. The deposit to pay at this stage is usually 3,000 euros though some developers require 6,000 euros.

This reservation fee is deducted from the final payment.

Normally within four weeks of signing the reservation agreement, a private purchase contract is drawn up between the vendor and the purchaser. A lawyer acting on behalf of the buyer will use this time to investigate the property and verify that everything is in order regarding title, status, liabilities attached to the property etc. Once he is satisfied, he will recommend that you sign the private purchase contract.

In the case of a resale property, it is normal at this point to pay 10% of the purchase price.

The sale of the property is completed when the title deed (escritura de compraventa) has been signed before a Public Notary in Spain and the outstanding 90% of the price has been paid (minus the reservation fee). Then, the title of the property passes to the new owner. Usually the entire process is completed within eight weeks of the reservation agreement.

With a new development, the payment terms will vary with the developer. Some will accept a down payment of 30 to 40% on signing the private purchase contract with the balance payable on completion. Thus the final 60 or 70% may be deferred for 12 to 24 months.

Others will spread the payments at agreed intervals over the construction period.

In all cases, the final purchase price is frozen at the time of the reservation agreement.

Spanish Taxes and Fees

Other fees including legal, notary, land registration, local taxes and stamp duty will bring the total purchasing costs to approximately 10% of the purchase price.