Spain › Buying, Moving, Owning & Living Overseas › What are the buying costs for property in Spain?
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- hottbabixz
Hi all,
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
Shania
SoFinestThis 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.
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