What is the typical sequence for buying Costa del Sol property as a foreign investor?

For foreign investors looking to purchase their first property on the Costa del Sol, the process typically begins with securing a Spanish tax identification number (NIE), which is essential for any financial transaction in Spain. Concurrently, it's highly advisable to engage an independent lawyer specializing in Spanish property law. This legal professional will conduct crucial due diligence on the property, ensuring there are no outstanding debts, planning issues, or ownership disputes, and will guide you through the entire legal framework. Next, opening a Spanish bank account is necessary for managing payments, including the deposit and final purchase price. Once a suitable property is identified and due diligence is satisfactory, a private purchase agreement (PPA) is signed between the buyer and seller, accompanied by a deposit (usually 10% of the purchase price). This agreement legally binds both parties. Subsequently, the lawyer will prepare for the completion of the sale, which involves signing the public deed of sale before a Spanish Notary Public. The notary ensures all legal requirements are met and witnesses the transfer of ownership. After signing, the property is registered in the Spanish Land Registry, formally establishing your ownership. It's also important to budget for associated costs, including property transfer tax (ITP or VAT for new builds), notary fees, land registry fees, and legal fees. Planning for ongoing annual property taxes and community fees, if applicable, is also a critical part of the process.