When buying real estate in Spain, a percentage of the purchase price is due to be paid to the state. In addition, stamp duty and fees for the creation of a contract for the supply of electricity and water, as well as costs for notary and registration . Overall this is about 13 % extra cost on top of the purchase price.
Newly constructed properties and projects
When buying a new property , the purchase contract or reservation contract will be signed at the real estate agent or developer's office. Payment of the purchase price is transferred to the developer's bank account at a bank guarantee. You must pay a deposit of 3,000 €, then the property will be registered as reserved and taken off the market. After 10 days, you pay 25 % of the purchase price minus the deposit of € 3,000, and the next 25 % within 3 months. The remaining 50 % of the purchase price and the 13 % tax (VAT), notary and registration costs have to be paid when you finalize the purchase. This has to be paid at our lawyers and finance department, when signing the transfer at the notary. Note : When canceling the purchase contract, the deposit of 3000 € will not be refunded.
NIE number, bank account, water and electricity contracts
As our customer, we will help you with acquiring NIE number, water and electricity contracts. You only pay for the stamp fee for the NIE number and establishing costs to suppliers.