The following costs will apply :
Purchase Tax – 8% on property purchases up to 400,000.00€, 9% on purchases from 400,000.01 to 700,000.00€, and 10% on purchases of 700,000.01€ and above.
Lawyers / Conveyancers Fees
These can vary depending on which lawyer or conveyance is used.
Notary Fees & Registry Fees
The amount charged for Notary & Registry fees is a percentage based on the value of the property as listed in the Escritura (Title Deeds).
Usually house insurance can be taken over from the previous owners’ insurance company, or renewed by a company of the purchasers choice.
As it is obligatory for property owners to pay taxes in Spain, it is suggested that purchasers use the services of a Fiscal Representative.
It is recommended that Wills be drawn up to cover all property and assets in Spain and this can be done by the lawyer acting.
The following costs will apply:
IVA (VAT) at 10%
AJD (Actos Juridicos Documentados)1.5%.
Conveyancing, Notary & Registry fees apply as detailed above.
The information shown above is provided as a guide to assist & help both sellers and purchasers.
This information is subject to change if there is any change in legislation.
Please do not hesitate to contact us for further information.