As a rule of thumb all buyers of property in Spain should estimate between 10%-13% of the agreed purchase price. This represents fees to: Notarius Publicus, registration fees, transfer fees, legalization fees and to connect water and electricity, the NIE-number and of course to your lawyer.

Our wish in ”Step five” is therefore; get a full overview of every single cost before you set up your budget. Remember – it’s always better to ask once too much than once too few.

Buyers costs:

• Transfer fee (VAT) 8-10% or 10% (ITP) if it’s a new building.
• Document fee 1,5 % (new building)
• Registration fee
• Notarius fees
• Lawyer fee to your lawyer ca 1,5 %

Sellers costs:

• Profit taxes
• Valuation  fee * (Plusvalia)
• Lawyer and Realator fees

*Normally the seller pays the Plusvalia.

Loaning money

• As a non-residential in Spain you may loan up to ca 80% of the valuation from the bank. The percentage can change from one bank to the other. Remember to do a thorough search before deciding. The documentation that is required from the bank is normally; income confirmation, confirmation on financial situation, copy of last year taxes and, if possible, a referral name in your existing bank.
• We have had positive experience with DNB Utland, NyKredit and Banco Cajamar.