Guide to Buying Property in Puerto de Mazarrón for UK Buyers

Sep 24, 2024

The Buying Process In Puerto De Mazarrón: A Step-by-Step Guide For UK Buyers

At Mercers, we have helped countless UK buyers find their dream property in the beautiful coastal town of Puerto de Mazarrón. Whether you’re seeking a holiday home, an investment property, or a permanent residence, we understand that the process can seem daunting. That’s why we’ve created this comprehensive guide to walk you through each step of buying a property in Puerto de Mazarrón, from initial research to finalising the purchase.

Step 1: Conduct Initial Research

Understand the Puerto de Mazarrón Property Market

The first step in your property buying journey is to familiarise yourself with the market conditions in Puerto de Mazarrón. The town offers a variety of properties, from modern apartments and beachfront villas to charming townhouses. At Mercers, we provide detailed market reports and property listings to help you understand current prices, trends, and the types of properties available.

Identify Your Property Needs and Budget in Puerto de Mazarrón

Clearly defining what you’re looking for will streamline your search. Consider the following:

1. Type of Property: Apartment, villa, townhouse, etc.

2. Location: Proximity to the beach, amenities, schools, or specific neighbourhoods.

3. Budget: Include not just the purchase price but also additional costs such as taxes, legal fees, and maintenance

Explore the Top Neighbourhoods in Puerto de Mazarrón

Puerto de Mazarrón has several neighbourhoods, each with its unique appeal. Bolnuevo offers stunning coastal views and a laid-back vibe, while the town centre is bustling with shops, restaurants, and cultural attractions. El Alamillo is perfect for those seeking tranquillity with easy access to the beach.

Also Check: Where Is The Cheapest Coastal Property In Spain

Step 2: Engage a Local Real Estate Agent in Puerto de Mazarrón

Benefits of a Local Agent

Working with a reputable local real estate agency like Mercers can make a significant difference. Our experienced agents have in-depth knowledge of the local market, access to exclusive listings, and strong relationships with property owners and developers.

Choosing the Right Agent in Puerto de Mazarrón

Look for an agent with a proven track record, positive client reviews, and membership in professional bodies like the Association of International Property Professionals (AIPP). At Mercers, we pride ourselves on our transparency, professionalism, and personalised service.

Communicating Your Requirements

Ensure you communicate your needs and preferences clearly to your agent. This allows us to tailor our search and show you properties that align with your criteria, saving you time and effort.

Step 3: Property Viewing and Selection

Arranging Viewings

Once we have shortlisted suitable properties, we will arrange viewings. Visiting Puerto de Mazarrón to see the properties in person is ideal. This not only gives you a better sense of the property but also the surrounding area.

Virtual Viewings

If travelling isn’t feasible, we offer virtual viewings using video calls and detailed property videos. This technology allows you to explore properties remotely and ask questions in real-time.

Evaluating the Properties

During viewings, pay attention to the property’s condition, layout, and location. Take note of the proximity to amenities, public transport, and the neighbourhood’s overall vibe. Our agents will provide detailed information and answer any questions you may have.

Step 4: Negotiate and Make an Offer on Your Puerto de Mazarrón Property

Negotiating the Price

When you’ve found the right property, we will assist you in making an offer. Our agents have extensive experience in negotiating with sellers to get the best possible price for you. Be prepared for some back-and-forth until both parties reach an agreement.

Offer Acceptance

Once your offer is accepted, a reservation contract (Contrato de Reserva) is typically signed, and a small deposit (usually around €3,000 to €6,000) is paid to secure the property. This contract takes the property off the market while due diligence is performed.

Check: The Benefits Of Retiring In Spain: Why UK Retirees Are Making The Move

Step 5: Legal and Financial Considerations for Buying Property in Puerto de Mazarrón

Hiring a Lawyer

It’s crucial to hire an independent lawyer who specializes in Spanish property law. Your lawyer will handle all legal aspects of the purchase, including verifying the property’s legal status, ensuring there are no outstanding debts, and overseeing the signing of contracts.

Obtaining an NIE Number

A Número de Identificación de Extranjero (NIE) is required for all property transactions in Spain. This tax identification number can be obtained at a Spanish consulate in the UK or locally in Spain. Your lawyer can assist with this process.

Opening a Spanish Bank Account

Opening a Spanish bank account is essential for managing your property purchase and ongoing expenses. Most banks in Spain offer services tailored for foreign buyers, making the process straightforward.

Check: The Complete Guide To Buying A Property In Spain

Step 6: Conduct Due Diligence and Review Contracts for Your Puerto de Mazarrón Property

Conducting Due Diligence

Your lawyer will perform thorough due diligence, including:

1. Title Check: Ensuring the seller has clear ownership of the property.

2. Debt Check: Verifying there are no outstanding debts or charges against the property.

3. Building Permits: Ensuring all necessary building permits are in place.

4. Community Fees: Checking for any unpaid community fees if the property is part of a development.

Signing the Preliminary Contract

Once due diligence is complete, a preliminary contract (Contrato de Arras) is signed. This contract outlines the terms of the sale, and a deposit (usually 10% of the purchase price) is paid. If the buyer backs out, this deposit is forfeited; if the seller backs out, they must return the deposit plus an additional amount.

Step 7: Finalise Your Property Purchase in Puerto de Mazarrón: Completion, Deed, and Registration

Preparing for Completion

Your lawyer will prepare all necessary documents for the completion of the sale. This includes the final purchase contract (Escritura de Compraventa), which will be signed in the presence of a notary.

Signing the Deed

The final step is signing the deed at the notary’s office. Both the buyer and seller (or their representatives) must be present. Once the deed is signed, the remaining balance of the purchase price is paid, and you receive the keys to your new property.

Registering the Property

After the deed is signed, your lawyer will register the property in your name at the local Land Registry (Registro de la Propiedad). This process ensures that your ownership is officially recorded and protected.

Check: The Additional Costs When You’re Buying A Property In Spain

Step 8: Understand the Costs Involved in Buying Property in Puerto de Mazarrón

Taxes and Fees

Be aware of the additional costs involved in purchasing property in Spain, which typically include:

1. Property Transfer Tax (ITP): Ranges from 6% to 10% of the purchase price, depending on the region.

2. Notary Fees: Usually 0.5% to 1% of the purchase price.

3. Land Registry Fees: Similar to notary fees, around 0.5% to 1%.

4. Legal Fees: Approximately 1% of the purchase price.

5. Mortgage Costs: If you’re obtaining a mortgage, there will be additional costs such as arrangement fees and valuation fees.

Ongoing Costs

Consider ongoing costs such as property taxes (IBI), community fees (if applicable), utility bills, and maintenance expenses. Budgeting for these will ensure you can comfortably manage your new property.

Conclusion

Buying a property in Puerto de Mazarrón can be a smooth and rewarding experience with the right guidance. At Mercers, we are dedicated to helping UK buyers navigate the process with ease, from initial research to finalising the purchase. By following this step-by-step guide and working with experienced professionals, you can confidently invest in your dream property in this beautiful coastal town. Whether you’re looking for a holiday home, an investment, or a permanent residence, Puerto de Mazarrón offers a wealth of opportunities and a high quality of life.

Note: The images used in this blog are sourced from Google and are intended for illustrative purposes only.