THE PURCHASING PROCESS

Fees when buying

1. Legal Fees

1. Legal Fees

These fees usually amount to about 1% up to 2% of the purchase price + VAT, but your legal costs could increase if complications arise during the transaction. Your lawyer should be able to give you a detailed estimate of the costs that are likely to ensue from your particular case.

 2. Notary Fees

2. Notary Fees

This fee is fixed by an officially established scale which takes a number of different factors into account including the price of the property. The scale ranges from about €500 for lower priced properties to €2.000 for more expensive purchases.

3. Property Registry Fees

3. Property Registry Fees

The Property Registry (Registro de la Propiedad) will also charge you a fee for entering your title deeds in the register. They use a scale that is related to the price stated in the title deed to assess the exact amount to be charged. This usually comes to about approx. 60 / 70% of the fees Notary fees .

PREV.     NEXT

1. Finding a Property.
2. Real Estate Agents.
3. Choosing a Lawyer.
4. Negotiating the purchase.
5. The Reservation Contract and Deposit.
6. Exchange of Private Purchase Contracts.
7. Completion.
8. Registry.
9. Special Considerations when buying Off-Plan.
10. Fees when buying.
11. Taxes when buying.
12. Other Expenses.
13. Differences between the contract price & the amount actually paid.

Selling

1. Real Estate Agent & Lawyer.
2. Fees when selling.
3. Taxes when selling.

Charges Taxes & Expenses for Property

1. Service Charges in Communities.
2. Annual Real Estate Tax. ( IBI )
3. Rubbish Collection Tax.
4. Capital Assets Tax.
5. Property Owners’ Imputed Income Tax.
6. The Tax Returns.
7. Insurance.
8. Mortgages.

Other Legal Matters

1. NIE – Identification number.
2. Open Spanish Bank Account.
3. Making a will in Spain.
4. Inheritance Tax.
5. Investment Opportunities on Spain.

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