The process of buying an apartment can be a difficult and confusing process. Costafiore aspires to be as transparent and helpful as possible. Therefore on our website you can find an animation which will make this process easier to comprehend.

Below you can find a detailed explanation of the different steps you need to take in order to make the process as easy as possible for you.

So you have chosen a Costafiore Gardens apartment of your dreams. What are the next steps?

Step 1. Sign the reservation agreement and directly pay €6.000. By signing this reservation agreement you reserve the apartment for a duration of 30 days and during these 30 days the apartment will be off the market.

Step 2. Find a lawyer. Even though it is not a legal requirement, it is highly advisable to seek for legal advice when purchasing a property in Spain, especially for non-Spanish buyers. A lawyer will help you throughout the process making everything easier for the buyer from a legal, tax and administrative perspective. We can advise you lawyers who are specialised in this

Step 3. Apply for NIE. This is a fiscal identification number for foreigners before the Spanish authorities. The NIE is mandatory to execute the purchase deed before the Spanish Notary and to pay for the purchase taxes. When you buy an apartment together with someone you are both obliged to have a NIE number. The NIE can be requested in Spain but also at the consulate of your residence country.

Step 4. Open a bank account. Having a Spanish bank account is highly advisable for the following reasons: (a) It makes it easier to fulfil the final payment at the Notary, and (b) It will also make it easier to the payments of property supplies (water, electricity, alarm, etc.) and property taxes. You can open a bank account by going to a bank in Spain or online (the second option is dependent on the bank of your choosing).

Step 5. Sign the private purchase agreement. This is a legal binding document by virtue of which you agree to purchase the property. From the moment of signing the private purchase agreement the interim payments will start.

Step 6. Directly after signing the purchase agreement you have to pay the first 10% – €6.000 (reservation agreement).

Step 7. The start of the construction. Six months after starting the construction you will have to pay another 30%.

Step 8. Arrange your mortgage. In the meantime you have enough time to, if needed, start arranging your mortgage.

When the architect in charge of the project declares that the project is finished in accordance with the approved plans and requests the First Occupancy Responsible Declaration it is time for step 9.

Step 9. Notary Appointment. Once the construction is completed, buyer and seller must arrange an appointment at the notary to sign the purchase deed. This is the moment in which the buyer becomes the official owner of the property. At the moment of granting the purchase deed before the Notary the buyer needs to make the final payment which corresponds to the 60% of the total price. This payment is normally made by virtue of a bank cheque.

Step 10. Get your keys. And then at last the final and most exciting step. As soon as the purchase deed is signed and the last payment is fulfilled, you will receive the keys to your brand new apartment.

If you would like to take a look or would like more information, please contact one of the estate agents who will be pleased to tell you more about this wonderful project.

María Jesús De Hoyos Navarro
Real Estate Agent

+34 660 65 35 89

Spanish – English – French