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Prior to buying a property you should take a look at the different areas then view your favourites before making a final decision. To play it safe you could also rent a property for a few months in that area first. A checklist to get the most out of foreign property deals:
Up-front costs for purchasing in Spain It is usually the case that the buyer also pays the sellers fees. As well as the cost of the property, the buyer will be liable for transfer tax (IVA), plus 1/2% stamp duty. The property registration office will charge you a fee to change the new deeds . This is usually around 300. The charge is on a scale depending on the contract price. Banks may also charge an additional percentage for arranging the mortgage. In total you should allow 10% of the purchase price for costs. Though initially it seems complicated, compared to the property purchasing requirements in your own country, the property purchasing process in Spain is reasonably simple once you become accustomed to it. |
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