Buyers Guide
Taxes and fees
There is three important fees to take notice of:
1. LAWYERS FEES:
Solicitors fees are approximately 1% of the selling price + VAT + out of pocket expenses, more or less, depending on the lawyer.
2. NOTARY FEES:
The cost increases according to the complexity of the title deeds. There will also be notary charges for copies of the 'escritura publica'. The charge is on a scale depending on the contract price.
3. PROPERTY REGISTRY FEES:
The property registry inscription fees, providing the purchase is straightforward, costs around 65% of the notary fees.
In total you should allow roughly 10 -12% of the purchase price for costs including VAT. The vendor pays agent fees unless otherwise agreed. Banks may also charge an opening commission and additional charges for mortgage loans.
1. LAWYERS FEES:
Solicitors fees are approximately 1% of the selling price + VAT + out of pocket expenses, more or less, depending on the lawyer.
2. NOTARY FEES:
The cost increases according to the complexity of the title deeds. There will also be notary charges for copies of the 'escritura publica'. The charge is on a scale depending on the contract price.
3. PROPERTY REGISTRY FEES:
The property registry inscription fees, providing the purchase is straightforward, costs around 65% of the notary fees.
In total you should allow roughly 10 -12% of the purchase price for costs including VAT. The vendor pays agent fees unless otherwise agreed. Banks may also charge an opening commission and additional charges for mortgage loans.
< 3/3 >
