Buying Costs

These figures are for illustrative purposes only and are subject to change.  

8% IVA transfer tax based on the purchase price for properties up to 400.000 euros

9% IVA transfer tax based on the purchase price for properties from 400.001 to 700.000 euros

10% IVA transfer tax based on the purchase price for properties over 700.001 euros

This rate increases to 16% for land, commercial premises, or garage spaces

1% legal fees plus IVA 21%

2% Notary- land registry and stamp duty

Note: Plusvalia should be paid by the sellers. Always ask your lawyers to check that this has been done.

Mortgages in Spain are reasonably easy to obtain personal circumstances permitting and we access to some of the leading mortgage providers in Europe.

Its easy when you know how –  “es facil cuando sabes como”

Some agent make this complicated. But when buying a property in Spain, you are required to have the relevant documentation.

So below is a brief overview of the documentation required (we can assist you with all of this)

NIE number: The NIE number is a Spanish fiscal registration numbers and all purchasers need to have one. (you need an an NIE to buy a car as well)

IVA: Spanish tax  (think of it as VAT)

Power of attorney: An undertaking that allows your lawyer to act on your behalf when you are not present.

Nota simple: Searches done on a property for mortgage arrears, debts and such things that would affect the purchase 

Legal fees: Fees your lawyer will charge for representing you throughout your purchase, normally 1% or a minimum of 1200 euros. Plus IVA at 21%

Your lawyers service should include the following:                                                                     

Guidance & instruction – reservation – due diligence of documents – searches and checking encumbrance – preparing the private purchase contract –  preparing contracts –  exchanging contracts and securing deeds – notary visits – setting up bank accounts.

These figures are for illustrative purposes only and are subject to change.  

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