Have you ever wished to purchase a piece of real estate on the Costa del Sol? Property for sale in Malaga province is one of the top locations where foreigners buy property. Malaga has a high homeownership rate, with over 85% of residents owning their property, many of which are free of debt.
The process of buying a house is not always uncomplicated. You should also be aware of the taxes and fees you will be accountable for when acquiring the property.
The Requirements for Buying a House in Malaga
When buying a home in Malaga as a foreigner, the NIE (Number of Foreigner Identification) is all you need legally. Every transaction in Malaga requires this number, which is unique to each individual.
Find the Home of Your Dreams
You can seek for a property on your own if you’re confident enough, using services like IMMOABROAD. When looking for a house, be sure the adverts you come across are legitimate. Remember the following guidelines:
The qualifications of any lawyers or real estate agents engaged in the transaction.
According to the land registry, planning clearance is required (Registro de la Propiedad).
There are no outstanding obligations on the property.
The structure of the property is sound (either a surveyor or an architect can do this)
When a buyer pays a fee and reserves the right to buy a home in Malaga for a set time, this is known as a reservation agreement (the reservation term). The builder or developer ensures that the property will not be sold to another party during the reserve period.
Payment of all applicable taxes and notification of changes to the Land Registry should be done by you, most of these payments are done by bank checks issued by your Spanish bank. For more information about Properties for sale in Spain you can contact IMMO ABROAD with 8 offices and a large native speaking staff and 30 years experience in the region.