Support and transparency
BlancaReal is committed to high transparency throughout the entire process, receiving information with any project updates.
Purchasing process
1st payment is due when the client is ready to reserve his unit.
1st payment is 5.500€ of social capital of the Cooperative + 25% of the property price + 10% VAT
What does it mean for the development to be a cooperative, and how is it different from buying from a traditional developer?
- Active member participation: you can vote and make decisions about finishes, layout, and other project milestones.
- 15–20% Savings compared to a traditional developer (their margin is eliminated).
- Tax advantages: the cooperative is exempt from Transfer Tax/Stamp Duty (ITP/AJD) when purchasing the land.
- Professional management: an expert team handles the administrative, commercial, technical, and financial aspects.
- Custodied contributions: payments are deposited in a notarial account and only released under the conditions set in the deposit deed.
- Guarantee or surety: once the license is obtained, all amounts are guaranteed through a surety bond or insurance policy in accordance with the LOE.
What is the approximate timeline of the project (license, start of construction, turnkey), and what happens if there are delays?
- Formation and organization of the cooperative.
- Application for granting of the building permit (timeline varies depending on the Townhall).
- Start of construction after the permit is obtained and financial closing is completed.
- Construction phase: 12–24 months depending on the project.
- Deed of allocation and handover of keys.
In case of delays, the penalty or extension clauses set out in the bylaws and in the construction contract will apply.
What additional expenses and taxes will I have to cover (VAT, notary, registry, capital gains tax, community fees), and when are they paid?
- 10% VAT (or the current rate) on each housing payment.
- Notary and registry: 1% of the price.
- Stamp Duty (AJD): 1.2% in Andalusia (as the transfer is subject to VAT).
- Community fees: payable from handover, according to the ownership share.
- Municipal capital gains tax (plusvalía): paid by the cooperative, not the member.
If I don’t reside in Spain, what procedures do I need (NIE, bank account, power of attorney), and who can help me with the documentation in another language?
- Valid ID from your country (national ID or passport).
- NIE, required for any real estate purchase in Spain.
- Power of attorney: not necessary if you will personally attend the signing; otherwise, it can be granted in Spain or at a Spanish consulate.
- If the power of attorney is granted before a foreign notary, it must have a Hague Apostille and a sworn translation.
- Our Legal Department can handle NIE applications, powers of attorney, translations, and represent the client in their own language.
Who is the management company (Gestora)? What is its full name and how many successful projects has it completed?
Serprocol is the Management Company: you can see on their website their projects.
Is there a board of directors or member representatives of the Cooperative? Who are they and how are they chosen?
Yes, 3 members: President (Serprocol employee), Vice President (OHLa employee + Calahonda Sunset member) and Secretary (Calahonda Sunset member). They all need to be fluent English / Spanish. They all volunteer to this role.
What are the voting rules? Which issues require unanimity and which require a simple majority?
The agreements of the General Assembly shall be adopted by a simple majority of the validly cast votes, unless a qualified majority is established by law or in these statutes.
How will members receive information? (e.g. regular reports, online portal, email)
Online portal accessible for each member.
Is remote participation in assemblies possible (e.g. videoconference, online voting)?
Yes, it is online in English / Spanish.
Is there a bank guarantee (aval bancario) for the amounts paid by members?
Yes, the notary bank account is already a bank guarantee as such. When the cooperative obtains the financing, the notary will allow a special bank account to be opened in its name, and all amounts deposited thereafter will be secured by capital insurance or a bank guarantee.
Who audits the budget? Is there an independent external auditor?
Yes, an external auditing company was voted during the last General Assembly in February 2025
What happens if construction costs increase? Is there a maximum approved budget?
Since the cooperative spirit is for the homes to be allocated at cost price, the estimated total costs are practically equal to the estimated income. The difference between the total costs and total income represents the Cooperative’s equity capital. In cooperative societies, the objective is not to generate profit but to develop and allocate the homes at cost price, so the total income must always match the total project cost in the budget.
What additional costs should be expected apart from the base price? (e.g. utility connections, taxes, legal fees)
Notary fee + Duty stamp fee + Property registration fee + annual IBI and garbage. (this info can be found on internet).
Are all the necessary permits in place?
The building permit request has been presented to the Townhall of Mijas.
What are the estimated start and completion dates for construction?
We will start the works when we get the permit, which we estimate will be end of the year. Construction last 2 years.
Are there penalties if the builder delays?
Yes, as it will be mentioned in the contract with the builders.
Will there be a 10-year structural warranty (seguro decenal)?
Yes.
Is it possible to personalize the interior (finishes, layout)?
Yes, because the Cooperative allows customisation. Extra cost will be charged to the clients.
Who will oversee construction (technical director)? Is this person independent and external?
Both, the bank auditor and the constructor work director.
What type of contract does the member sign? Is withdrawal possible? Under what conditions?
The member signs a membership contract.
Yes, it is possible to cancel your membership by filling out a cancellation request form.
The refund will be issued once the retailer has a new customer ready to purchase your unit.
Who is the cooperative's legal representative?
The President of the Board.
Is it advisable to hire an independent lawyer?
Yes, and we recommend Martinez Echevarria law firm as they did a due diligence on Cooperatives.
Is there any regular fee, or just the starting 5,5k?
5.5K is a unique fee that goes to the Cooperative as social capital. Each client needs to pay it.
If so, what happens if a member fails to pay on time?
We will remind him several times and if no reaction or payment, The Board of members can expel him and refund his money.
Is there an internal regulation (estatutos)? Can it be reviewed before signing?
Yes, it can be requested by the lawyer of the client.