Real estate solicitors Marbella

Do I need a solicitor to buy a house in Spain?

Buying a property in Marbella.

Having paid an initial deposit, you will need a Spanish lawyer. We recommend that you select someone with local knowledge that has been approved by LuxuryForSale.Properties and who speaks your language. Your lawyer will carry out numerous checks to ensure that your chosen property is indeed owned by the person selling it and that it has been marketed correctly. Your lawyer will ensure that there are no undeclared debts owing on the property and that all service bills and taxes are paid up to date.

When buying a property in Marbella, several requirements must be fulfilled. These include obtaining contracts, and bank certificates, verifying the seller’s payment status and ensuring no outstanding fees or debts exist, acquiring an NIE number (foreigner identification number), opening a Spanish bank account, and scheduling appointments with a notary.

For buyers, a real estate lawyer will guarantee the timely payment of all fees. At the same time, sellers will ensure that the buyer possesses the appropriate funds and that all legal documentation has been duly finalized.

What happens if I need a Mortgage ?

Before signing any reservation contract, it is important to make sure your finances are in order. Remember that the reservation contract will remain binding even if you don’t get funding and you risk losing all of the deposit money you paid for the property to the owner. If you need a mortgage, make sure your loan is approved by the bank before you make a formal commitment to purchase.

Should You Buy Illegal Property in Marbella.

Marbella is the jewel of the Costa del Sol and is backed by the beautiful mountains of Sierra Blanca which help to give the area its very own micro climate with 320 sun days athroughout the year. Marbella is offering a sophisticated and diversified lifestyle with some of the best facilities in Spain.

On the face of it that’s a very obvious question to answer and from a legal point of view you should never buy illegal Marbella properties. However there are quite a few property transactions taking place for Illegal properties in Marbella area so why?

– First things first what is an illegal Marbella property?

Very simply it’s a property that never obtained a first occupation license and therefore is illegal.

Some homes even infringe on the foothills or damage hilltops, causing environmental harm. This applies to the municipality’s vast number of swimming pools as well. Critics argue that these affluent residents don’t significantly contribute to the local economy, and gated communities often worsen conflicts between public and private spaces. Some of these communities limit access to non-residents, while municipal funds cover essential services like sanitation and paving.

– Secondly what can happen to you if you buy an Illegal property without a first occupation license?

The most important factor to bear in mind is you have to be a cash buyer as it’s impossible to get a mortgage on the property. The exception to this rule is where the bank already has a mortgage on such illegal properties and will transfer it to the new buyer. Now however the banks are a lot wiser and will not lend on such properties. The most important factor for buyers of such properties is when you come to sell you can only sell to a cash buyer so selling such properties can be very difficult indeed.

– Thirdly why do people continue to buy such properties?

The answer is primarily due to the fact that the majority of illegal properties are in the process of being legalized under the Marbella Town Hall plan (PGOU) with some exceptions notably River Gardens and Banana Beach that will in reality never be legalized. So at some point in the future the properties will be able to be sold without any issues. The other major reason people still buy such properties is the price that they can buy for and the location of some properties such as Los Granados de Cabopino which you just can’t buy at the prices they are currently trading hands for.

Off Plan Property Purchase: Guarantees

If you are planning to buy a off-plan or new build property on the Costa del Sol, the developer is legally required to provide insurance cover or the bank guarantees to protect payments made by the buyer before the completion of the sale. The developer should also provide proof of appropriate 10 year building insurance coverage on completion to cover any potential damage caused nonsupport beams, earthwork, or any other structural issue to the property in the future.

Your lawyer can arrange power of attorney should you wish a third party to sign for your property on your behalf. This can be particularly convenient if you are purchasing off-plan property as occupancy licenses can sometimes be granted weeks after your property is officially completed. Services such as water and electricity cannot be transferred into your name until licences to occupy are in place.

If you are purchasing an off-plan  Spanish property your lawyer will ensure that the developer has an insurance policy or bank guarantee in place ensuring that should the purchase not go ahead at the fault of the developer, your money plus interest of 6% will be returned.

When buying and off plan property you should use an independent lawyer specialising in Spanish land law, who works on your behalf only. Buying a Spanish property is different to the laws and systems of other countries, so you must make sure that the solicitor involved in the transaction is qualified and located in the area.

Selling a property in Marbella.

Your real estate lawyer will primarily serve as a guide and support throughout your buying or selling journey. Given Spain’s renowned complexity of bureaucracy, especially for individuals with limited language proficiency, navigating the process alone can leave you susceptible to errors. By enlisting the aid of a real estate lawyer, you can rest assured that unforeseen circumstances will be effectively managed, and you will have a committed professional by your side.

When selling your property, you must ensure current IBI (property tax), community fees, and utility payments. Additionally, you must cancel any existing mortgage, settle the Plusvalía tax, and organize your tax obligations.