7. Transfer Tax and Fees:
As part of the completion process, you’ll need to pay various fees, including property transfer tax (typically around 7% of the purchase price), notary fees, and potentially lawyer’s fees if you’ve used one (usually around 1% of the purchase price). Additionally, there will be costs associated with inscribing the property in the land registry.
8. Handover and Possession:
Once all payments have been made and legal formalities completed, the keys to the property will be handed over to you. You’ll officially take possession on the day of signing the “escritura publica de compraventa” at the notary.
Overall, you can expect to pay approximately 10% on top of the purchase price in taxes and fees during the property purchase process in Spain’s Malaga province. It’s important to work with a reputable lawyer and real estate agent to guide you through the process and ensure everything is conducted legally and smoothly.