We have extensive experience in dealing with both national and international clients which allows us to deal with your real estate needs and to protect your interests here in Spain.
Our multilingual team of experts will guide you every step of the way, making sure your purchase or sale in Spain and your investments are handled in a professional manner.
WE HAVE AN INDEPENDENT LEGAL SERVICE TO HELP CLIENTS WITH THEIR PROPERTY PURCHASE IN SPAIN
- We work only for the client; we do not get commissions from banks or real estate agents.
- We supervise the entire purchase from start to finish to avoid incidentals and unexpected expenses.
- We will review the “Arras” Contract and negotiate with the real estate agency on your behalf and if you have signed already we will re-negotiate the conditions.
WE HELP IDENTIFY POSSIBLE INCIDENTS WHEN BUYING A PROPERTY IN SPAIN
- Unregistered property.
- Various estate agents dealing with the same property.
- Double sale of the same property.
- Property built without licenses.
- Rural houses built on land where building is not allowed.
- Late delivery or hidden defects.
What are the costs involved when buying a property?
Buying property in Spain not as straight forward as one would expect, and that is why we always recommend you to hire a good real estate lawyer that speaks your language.
The costs should always be made clear at the beginning of the purchase, and this includes all the taxes that should be paid on the property.
In a straightforward case the following will apply:
- Property Price
- Lawyers fee
- Appraisal
- Portion outside mortgage
- Taxes
- Notary Fees
- Property registry Fees
- Bank Fees
TAXES WHEN YOU BUY A PROPERTY IN SPAIN
If the property is a new construction there are generally two taxes to pay:
- VAT tax (10 % in the most common cases).
- Stamp Duty (Impuesto de Actos Jurídicos Documentados) that varies depending on where the property is located.
If you buy an existing property you must only pay:
- The Transfer Tax (Impuesto de Transmisiones Patrimoniales) which is estimated according to the regulations of each region and should be around 10%.
NOTARY AND PROPERTY REGISTRY FEES
The Notary fees it might vary depending on the Notary chosen.
The buyer has the right to choose the Notary at his/her own convenience.
The Registry Fees are estimated based on the total property value, but in any event cannot be more than the 1% of the property value.
BANK FEES
These fees include:
- The cost of issuing the bank cheques.
- If you buy on a mortgage, the bank requires that you get life insurance and house insurance. Note that in this case the appraisal is also required by the bank.
