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Buying Property in Spain

Buying Property in Spain

Buying Property in Spain

Fees and Taxes When Buying a Property in Spain

  • 8% IVA (Impuesto sobre valores añadidos) purchase tax on the whole amount.
  • Property registration fee & Notary(Tasa del Registro de la Propiedad): 650€.
  • Solicitor fees: approximately 1500€.

Purchasers are recommended to find their own solicitor to act on their behalf in the purchase of a property.

Example timeframe:

  • Both parties sign a reservation contract.
  • Payment of 3000 euro deposit to secure property(owners remove it from the sales market).
  • After 2-4 weeks 10% of the sale price minus the 3000 euros already paid, is paid by the purchasers to the vendors.
  • In a period up to 3 months, a date is set for both parties to sign the new title deeds at Notary, where the final payment is made, normally in way of a banker’s draft.

This is only an example timeframe; it can be adjusted to suit both parties.

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