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Mijas Real Estate buyers guide

Spanish beach property for sale on the Costa del Sol SpainBuyers guide for buying Spanish property for sale on the Costa del Sol Spain

We recommend you read and understand the following information and terms as they are of vital knowledge when thinking of purchasing property in Spain. There´s nothing more unpleasant than unexpected surprises, especially when your investment is concerned.

PROPERTY PURCHASE COSTS
You should normally allow 10% of the declared purchase price to cover costs and taxes.
This 10% is broken down as follows:

THE TRANSFER TAX
(Impuestos de transferencia) transfer tax is

8 % of the purchase price of a resale property priced upto 400,000 euros
9 % of the purchase price of a resale property priced from 400,000 euros upto 700,000 euros
10 % of the purchase price of a resale property priced from 700,000 euros upwards
8 % IVA (VAT) of the purchase price of a new property.

SOLICITORS
Solicitors fees are usually 1 % of the purchase price

PROPERTY REGISTRATION FEES
This is the fee charged by the land registry and varies on price, size and location of property.

NOTARY CHARGES
These are set on a fixed scale by law and will be a minimum of €300 and may be much more depending on what is involved. (ie. mortgage)

WHO PAYS WHAT?
Spanish laws relating to Real Estate transactions stipulate that unless specified by contract taxes and fees are split between the buyer and seller as follows:
· Buyer Pays:

1. The transfer tax or (IVA) VAT.
2. The fee that you are charged for registering the property in your name with the land registry.
3. The Notary costs of the first copy and any further copies of the (Escritura Publica) Title Deed.

· Seller Pays:

1.The Plus Valia Tax which is a municipal tax that is based on an officially assessed increase in the value since the previous transfer of property.
2. The fee to the Estate Agent who handles the sale.

Featured Costa del Sol property for sale

 3 Bedroom Apartment for sale in  Benalmadena

3 Bedroom Apartment for sale in Benalmadena

Great apartment in torequebrada hills, with large terraces overlooking the sea and mountains , south facing with sun all day .very good quality and bordering the golf course torrequebrada.

middle floor apartment, benalmadena, costa del sol.
3 bedrooms, 2 bathrooms, built 125 m, terrace 25 m.

setting : close to golf, close to sc

3 Bedroom ApartmentPrice: €350,000  

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 3 Bedroom Apartment for rent in  Benalmadena

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3 Bedroom TownhousePrice: €1,800/pm  

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