Buyers guide for buying Spanish property for sale on the Costa del Sol Spain
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.
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 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.
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: ·
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
2 Bedroom Apartment
for sale in Marbella
Central two bedrooms apartment in the heart of marbella. it has two terraces of 70 and 14 square meters. close to shops, banks, promenade, beach, old town. the costs are: community fees: 42 € / month ibi 501 € / year garbage fees: 66 € / year
Incredible front golf villa of 520m2, plus 350m2 of terrace and porch built on a plot of 1400m2. 4 bedrooms and 4 bathrooms plus another bedroom in the upper floor . the main bedroom has the bathroom en suite , sauna and spa , including 2 wardrobes. the kitchen is fully furnished. lounge with fireplace own swimming pool and garden with bbq.