Useful Information for anyone Buying or Selling Spanish Property. Read On to get an idea of the costs and proceedures involved and if you have any questions don’t hesitate to contact me using the form below.
FOR BUYERS: Apart from the side-costs which I shall explain in a moment, there are no direct costs involved in your purchase because we work on a fixed fee basis which is payable by the seller.
What follows is a brief rundown of the unavoidable side-costs pertaining to every purchase:
The bulk of the side costs come in the form of tax and the rates for New-Build and Resale Properties are the same: 10% in the Valencia Region:
This tax is payable on completion for Resales and as part of the payment structure for New-Build.
These are paid to the lawyer for drawing up the Escritura and registering the property.
Land Registry Fees:
Cover the registration of the property at the relevant land registry office.
This is a municipal tax on the sale of the property, payable to the town hall. On Resales it’s normally paid by the vendor and on New-Build by the buyer.
Actos Jurídicos Documentados or Stamp Duty:
This duty only applies to New Build and is around 1%.
Please Note: If you require a mortgage, please ask us, because we can help you with this, but please remember the bank will typically charge an arrangement fee of 1% of the amount mortgaged.
First up let’s talk about money, we charge a SET FEE OF 3,950€ INCLUDING IVA which is built into the selling price of your property.
Included in this price, is a quality Portfolio including Photos and a Video of your property which we will use for Internet and Printed Marketing. Assistance with making sure your documentation is in order. Arranging and conducting Viewings with potential buyers. If you’re interested in selling your Spanish Property with McCASA here is a checklist of the necessary documentation:
Escritura (Title Deeds)
Cédula de Habitabilidad (Certificate of Habitability)
Copies of the last Electricity, Water and Telephone bills.
Projects and Licenses for any extension work including pools.
CEE or Energy Performance Certificate. If you do not have one and would like more information then please contact me using the form below.
Last original paid SUMA bill.
If you will not be present in Spain for the signing of your property, power of attorney must be handed over to either a solicitor or the agent responsible for the sale.
To avoid any delays in the sales process this documentation should be valid and in place when you put your property on the market.
PURCHASING PROCESS AND AFTER SALES:
Once you’ve found your property, agreed the price and all the necessary checks have been carried out, the next step is to draw up a contract and pay a deposit, there is no fixed rule as to how much this will be, but as a rule of thumb you can budget for anything from 3.000? to 10%. In the case of a Resale this would be a down payment contract, (Contrato de Arras) and for New-Build a private purchase contract, (Contrato de Compraventa).
Now that contracts are signed we move into the After Sales period. For Resale property it usually takes no more than four to six weeks before signing the deeds at the Notary. The scenario is different for New-Build where up to two years can elapse before you take possession of your new home. During this time we will send you quarterly updates including photos of the progress your property is making.
On the day of signing both parties will be present at the notary with their solicitors along with myself and it is now that the remaining balance will be paid and once the contracts have been signed and the title deeds exchanged, you will then officially be the new owner of the property.
IF YOU’RE INTERESTED IN SAVING THOUSANDS OF EUROS IN AGENTS COMMISSION, THEN CONTACT ME TODAY FOR MORE INFORMATION!!