Costa Blanca Real Estate & Golf Holidays

Basic Legal Procedures & Costs Connected with Buying a home in Spain

As with buying a property at home, it is important that you use the services of a qualified, registered, Spanish Solicitor. We work with solicitors with english speaking staff, who represent good value for money and give an excellent level of service. An appointment will be arranged on your inspection trip to Spain to meet with the solicitor, in the event of you buying a property.

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An example of usual payment terms is

New Builds 3000€ reservation deposit
                                                          30% - 50% within 30 days (Depending on builder)
                                                          Balance on Completion

Resales 3000€ reservation deposit.

                                                          Balance on signing of deed

To help you here is a quick reference to the procedures for buying a property in Spain.

New Property

• Leave a deposit to reserve the property.
• Agree terms with the Developer.
• Meet your solicitor or Conveyancer.
• Open a Spanish Bank account.
• Make stage payments (via your local bank e.g. UK.)as stipulated on the contract.
• Transfer final payment into your own Spanish Bank Account and only pay on the date of completion with your Solicitor´s confirmation. On this day the property will be signed over to you in front of a Public Notary.

Resale Property

• Leave a deposit to reserve the property.
• Open a Spanish Bank account.
• Meet your Solicitor or Conveyancer.
• Agree terms with the Vendor.
• Transfer the amount into your Spanish Bank Account.
• Payment of 10% on signing of the contract.
• Pay the balance on the day of completion when the vendor signs over the title deeds to you in front of the Public Notary

Costs Connected with Buying Property in Spain

Approximately 10% of the cost price of the house will cover all fees & charges.

New Property

I.V.A = VAT which is 7%, added to the purchase price.

I.A.J.D= State Tax, (Tax on juridical Documented Acts).
This is a tax that is levied on documents that are granted by a Notary.
This is 0.5% of the declared price and is paid to the Tax Office. Notary fees.

Lawyer / Solicitors Fees
These Fees include Registration and Stamp Duty on the property. This is from €850.00+I.V.A

Resale Property
A payment of 7%. Transmission Tax is added to the purchase price of the property.

Solicitors
We can help you with an English-speaking Solicitor who will act on your behalf when purchasing your new/resale property.
They will check and translate all Contracts, Title deeds into English.

They will also help to arrange for Clients a N.I.E., Foreigners Identification Number, required by all nonresident clients to draw up a Will.

This is only a guideline for prospective buyers of a property in Spain. It does not cover all aspects of the Spanish Law and should not be used as substitute for professional Advice. If you want more information about buying in Spain or need help finding a good Spanish lawyer please feel free to Contact us.

Celtic Sun S.l. can also find the perfect mortgage for you, at the best rate of interest, through one of the major Spanish banks. Up to 70% mortgages are currently available in the market place. The current rates are around 3.5% per annum.   Celtic Sun S.L. work in close association with Currencies Direct bringing you the best possible exchange rates for Sterling. Currencies Direct offers a simple proactive approach to currency buying allowing you to buy currency up to 18 months in advance, enabling you to get the best rates possible, potentially saving you thousands of pounds when you finaly purchase your dream home in the sun.   Sell your home   Do you want to sell a property in Spain? Well Celtic Sun S.L. can help. We can advertise your property to thousands of potential buyers.     If you have a property in Southern Spain that you would like us to sell for you, simply contact us with your details and one of our helpfull team will contact you to arrange an appointment to view your property.   Unlike some larger companies here in Spain, Celtic SunS.L. are able to keep commisions at the lowest possible rates. This makes your property a very appealing prospect to the buyer, aiding it´s speedy sale.