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Purchasers Fees and Taxes

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.

An Example Timeframe

  • Both parties sign a reservation contract.
  • Payment of 3,000€ deposit to secure property (owners remove it from the sales market).
  • After 2-4 weeks, 10% of the sale price minus the 3,000€ 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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