Purchasing Costs

Re-sale Properties

The following costs will apply :

All properties are subject to Purchase Tax

8% on property purchases up to 400,000.00€
9% on purchases from 400,000.01 to 700,000.00€
10% on purchases of 700,000.01€ and above

Lawyers / Conveyancers Fees

These can vary depending on which lawyer or conveyance is used.
You can expect to pay between 1,000 and 1,800 Euro.

Notary Fees & Land 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).

As a guide, you should allow an extra 10% on top of the purchase price to cover costs.

However, if a mortgage is required you will need to budget for an additional 3% as the bank will charge around 1% to set up the mortgage and a further 2% mortgage tax and you also have to pay to register the mortgage before a Notary.

Please contact us if you need assistance in obtaining a mortgage.

House Insurance

Usually house insurance can be taken over from the previous owners’ insurance company, or renewed by a company of the purchasers choice.
Please ask us for further information.

Fiscal Representation

As it is obligatory for property owners to pay taxes in Spain, it is suggested that purchasers use the services of a Fiscal Representative.

Wills

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.