When you buy a property in Spain, there are additional costs over and above the actual price of the property price.
Legal and Administration Costs
For both new and resale properties, there will be a property purchase tax of 7% to pay and a sales tax of 1%.
In addition, costs will be incurred for the registration of the property and for legal and administrative tasks that need to be performed. There will usually be a charge for the connection of utility services such as electricity and water.
As a guideline, we always recommend that you allow 10% of the property purchase price to cover costs. If you choose to finance your purchase with a Spanish mortgage, it is prudent to allow a further 3% of the purchase price on top to cover the associated costs.
How Much Deposit Do I Need?
Having found your dream home, a reservation form will be completed with all of the details about you and your purchase. At this point a reservation deposit of €3.000 is paid.
Staged Payments
After a period of approximately 4-6 weeks, a private purchase contract is issued to be signed by you and the builder or seller if a resale.
For new properties a second payment is required. Typically this will be between 15% and 30% of the purchase price depending on the builder.
For a resale property, the payment is usually 10% although if the purchase process is expected to be reasonably quick, the sale may proceed straight to completion.
The remaining balance for your property is only required on the day of completion and signing, nothing more to pay till then.
Spanish Mortgages
Let us help finance your purchase in Spain with a mortgage of up to 90% or release equity from your UK property to use as your deposit.
Having found your dream property we make it affordable with low deposit structures. With an initial €3,000 to reserve and a deposit on contract, often as low as 20%, due after 30 days.
The balance becomes due only on completion when you can choose to fund from the UK or benefit from a low rate Spanish Euro mortgage.
Spanish Property - Spanish Property for Sale - Spanish Property Sale. We are very experienced specialists in selling dream homes in Costa Blanca and Costa Calida (Southern Spain). We have an extensive choice of Spanish Villas, Spanish Apartments, Finca, Town House, Quads, Bungalows and Duplex type accommodation for either permanent living, rental opportunities or as an investment. Our experienced property agents and well placed property sales office in La Zenia are on hand to help you make an informed and relaxed decision about your dream Spanish property. Our services extend to inspection trips, financial advice (including Spanish Mortgages and bank accounts), legal advice and of course the all important after-sales. With 100's of satisfied customers buying a villa or apartment from Spanish Homes Just For You already we are confident we can help you find your Spanish property.
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A Spanish based property agent selling new, resale and off-plan properties in Costa Blanca, Costa Calida in Spain. Services include: Spanish Mortgage advice, Financial and Banking Advice, Contract & Legal Advice, Help with Solicitors, Spanish Padron, NIE Number, Building Work, Furnishings, Swimming Pools and renovation work.
Spanish Property for Sale in Areas
We sell villas, apartments and townhouses in Costa Blanca: Algorfa, Almoradi, Benijofar, Cabo Roig, Campoamor, Catral, Dolores, Formentera, Guardamar, Jacarilla, La Marina, La Mata, La Romana, La Zenia, Los Altos, Los Montesinos, Playa Flamenca, Punta Prima, Quesada, Rojales, San Fulgencio, San Miguel de Salinas, Torrevieja and Villamartin. We sell villas, apartments and townhouses in Costa Calida: Balsicas, San Pedro Del Pinatar, San Javier, Santiago De La Ribera, Los Alcazares, Los Narejos, Torre Pacheo, Roldan, Valle Del Sol, Fuente Alamo, Sucina and San Cayetano.
Dream Homes in Spain
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How Much Does it Cost?
