Buyers info

The Notary (Notaria)

This is a solicitor appointed by the Spanish government to witness the signing of all legal public document. In this case the title deeds of the property. He represents both the buyer and the seller. The Notary fees are around 2% of the purchase price of the property and must be paid at the time of the signing of the deeds. The Original signed document is retained by the Notary who will apply for a formal change in the land registry. The purchaser will receive an initial legal copy of the title deed which is signed and stamped by the Notary. The official title deed can take a while to be processed and until then this is your official proof of ownership.

Taxes

We recommend that you allow a sum of around 11% of the price of the property to cover payment of purchasing fees e.g. land registry fees, legal fees and taxes

Transfer tax or IVA (vat)

These are charged by the local Land Registry Office to register the property in you name. Average costs are between £ 120 - £ 300, depending on the purchase price

Notary Fees

These are calculated on a sliding scale

Plus Valia (and/capital gains tax)

This is the municipal tax (rates) which is calculated by the local town hall on the official increased value of the property since the previous property transfer value was established. The calculation is based on the ratable value of the property and is a "one-off" payment.