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- 01/03/2022 at 5:59 PM #120322hottbabixz
Finally saved up enough pennies to buy a property in the Marbella area. Can anyone give me a breakdown of buying costs?
I was advised to set aside about 15% of the purchase price. It seems a lot so want to know what it covers.
Thank you advance
Shania29/03/2022 at 11:19 PM #120688SoFinest
This rough guide will give you an idea of the costs of buying property in Spain.
New Properties allow for 14.2% of the property cost. If you seek a mortgage your costs increase to about 17%.
Costs include stamp duty, legal fees, notary and registry fees, documentation eg power of attorney, NIE application and certificates.
Resale properties allow for 11% of the property cost. If you seek a mortgage your costs increase to around 14%.
Costs include transfer tax, legal fees, notary fees, documentation eg NIE applicaiton and certificates, power of attorney.
Best advice, I can give you. Make sure you get the right help.