Spanish Legal Fees & Costs
Our fees on residential purchases and sales are 1% of the value of the property plus IVA (Spanish VAT), plus disbursements.
We have a minimum fee of 2,500 Euros plus IVA and disbursements on properties valued at 250,000 Euros or below.
We provide all our clients with a clear estimate of our fees prior to acting for them, and update them regularly on our progress in their purchase.
Spanish Property Purchase Taxes & Disbursements
If you are buying a resale property you pay a Spanish property purchase tax of 7% on properties up to 400,000 Euros in value over this price you incur a tax at a rate of 8%. The Spanish government anounced in August 2011 that it has halfed the property purchase tax on newly built properties to 4% temporarily until 31st December. There is also a 1% stamp duty tax. Prior to completion you provide your Spanish lawyer with these funds and he or she will complete the necessary tax payment forms and pay this tax on your behalf.
In Spain the completion of any property purchase is carried out by a Spanish Notary at the Notary’s office. The Notary charges a fee for this service and this varies according to the value of the property in question.
After completion at the Notary office your Spanish lawyer registers you as the new owner of the property at the Spanish Land Registry. This government controlled registry will charge a fee for the registration and again this will vary according to the value of the property.
Prior to your purchase of a Spanish property you will need to apply for a NIE number which is a type of Spanish tax identification number like the English National Insurance number. You can apply for this in person at a Policia Nacional Police station or we can apply for it on your behalf for a fee of 300 Euros.
Once you have completed on your purchase of your new property we can visit the various utility companies electricity, water etc. and register you as the new owner for a small administration fee if you wish.
If you contact our firm’s English Solicitor Des Sparkes and give him the details of the type and value of Spanish property that you are buying or selling he can send you a specific estimate of the costs for your purchase. You can contact Des either by email: des@sparkeslawyers.com or by phone on 00 34 600 670 688.
