How Does Off-Plan Buying Work?
Step 1 — Reservation: Pay a reservation fee (typically €3,000-€6,000) to secure your chosen unit. The property is taken off the market.
Step 2 — Private Purchase Contract: Sign the contract and pay the first stage payment (typically 10% of the purchase price).
Step 3 — Build stages: Pay additional instalments as construction milestones are reached (typically 10-20% spread across the build period).
Step 4 — Completion: Pay the final balance (typically 70%) and receive the keys to your new property.
Legal Protection
Under Spanish law, all stage payments for off-plan properties must be protected by a bank guarantee. If the developer fails to complete on time or at all, you are entitled to a full refund of all payments made plus interest. Bona Fide Costa works with trusted legal professionals who will guide you through every step of the buying process.
