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Please note that photographs on property advertisements may not always reflect the exact items and layout.  We would always recommend that you see the property and if a new build property meet with the developer to see what is included in the price.  Developers and owners may have items shown in photos that are for display only and may also change qualities and materials during development.

We can recommend a good Lawyer for you in the area or you are free to choose your own.  Your chosen lawyer will deal with details such as the charges/embargoes recorded on the property register and determining whether the seller is legally authorised to sell the property. The seller will need to produce an escritura (title deed), a nota simple informativa detailing if the property has any outstanding charges, and to confirm official ownership, an impuesto de bienes inmuebles (paid local property tax receipt). If you are buying a plot of land, the lawyer will also need to see proof that a house can be legally built on it.

Once you have found a property you wish to purchase, a reservation deposit will need to be paid to withdraw the property from the market.   Our vendors will require either €3000 – €5000 (depending on price of property) Euro deposit to ensure the reservation.   This will be held by ourselves in a protected client account.  In the contract, an obligatory completion date will be stated, and the purchaser must meet this deadline or else lose the deposit on the property.  The only time that one of the deposits made will be returned to the property buyer is when the seller does not meet his/her obligations as stated on the sale/purchase contract.

When your legal representative has done the necessary searches on the property you have chosen and is happy for you to proceed, a further 10% less the initial deposit will need to be paid either directly to the owner/s of the property or the Lawyer of the owner/s.   The timescale for this is usually two to three weeks after the initial deposit.   The final payment would then be arranged to all take place at the Notary office for the outstanding balance and legal fees etc.

To complete the sale, you will need an NIE (Foreigner Identification Number), which a gestor (local lawyer) will be able to obtain for you.

If you are unable to be in the country for this final step, you can attribute power of attorney to a person of your trust, preferably to a solicitor or the property agent.

As a general rule of thumb, we recommend that all buyers add another 13-14% on top of the purchase price.  This way, all expenses are covered.  Costs are split as follows:

  • Stamp duty is charged at either, 10% of the purchase price OR 10% of the rateable value multiplied by 3.7 – whichever is the higher figure.
  • Notary fee
  • Land Registry fee
  • General administration of new title deeds

When purchasing land or garage spaces directly from a builder / property promoter, then the purchase may be subject to VAT instead of stamp duty.  VAT is normally charged at 21% however.

If you buy with a mortgage, then you will have the following additional expenses:

  • Stamp duty is charged at either, 10% of the purchase price OR 10% of the rateable value multiplied by 3.7 – whichever is the higher figure.
  • Notary fee
  • Land Registry fee
  • General administration of new mortgage deed
  • Bank survey
  • Mortgage arrangement bank charge

Other things to consider, which will also incur costs are the following:

  • Property surveys
  • Solicitors fees
  • Life insurance
  • House insurance
  • NIE numbers
  • Bank commissions
  • New contracts with utility companies (if applicable)