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The process of purchasing a property in Spain is far simpler and more transparent these
days than many people imagine. Even so it is always advisable to use a well-established
law firm with lawyers that speak your language – we can recommend highly respected


When you find a property you want to buy you will have to provide a reservation deposit
to take it off the market while your lawyer checks the status of the property to ensure that
all paperwork is in order and . there are no outstanding debts


Cash buys can proceed from this point on, but if you need to obtain financing a Private
Purchase Contract is signed in the interim, and a further percentage paid towards the
purchase price

Once financing is arranged vendor buyer and/or their respective representatives sign the
title deed at the notary, after which the property is recorded in your name with the Land
Registry and you . take official possession

Your agent and lawyer will assist you through the steps, and can also be on hand to open
bank accounts and set . up utilities on your behalf


Legal Fees – usually up to 1% of the purchase price
Notary Fees and Land Registry Fees – approximately 1%
Stamp Duty – 1.5% of the purchase price
Plusvalía (Capital Gains Tax) – a variable municipal tax applying to existing
properties that is based on the difference between the sales price and the original
purchase price – paid by the seller
Transfer Tax (ITP) on re-sale properties – 8% on the first 400,000 Euro of the
sales price, 9% of the amount between 400,000 and 700,000 Euro and 10% on the
amount thereafter. A property sold for 800,000 Euro would pay 69,000 Euro in
Transfer tax, ie. 32,000 + 27,000 + 10,000 Euro
Value Added Tax (IVA) on new properties – 10%
Banks also charge a variable commission for mortgages
Overall, purchasing costs currently amount to approximately 12-15% of the buying price