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Property taxes and fees

Posted: Thu Jun 28, 2018 3:25pm
22 replies779 views5 members subscribed
Tifah

Posts: 28

Location: La Fiesta

Joined: 17 Apr 2018

Hi,

Just would like to know the actual taxes and  fees charged from buying a property in Spain.

The agency stated this 10% from the property price for the Tax ( Model 600 )

Secondly another 5 % legal fees for land registry,Town hall fee, water & electricity contracts and Notary

Where do I check the prices for these 5 % legal fees charges? So i roughly know the actual prices.

271935

Posted: Thu Jun 28, 2018 6:56pm

271935

Very helpful member

Posts: 837

679 helpful points

Location: Villamartin

Joined: 30 Apr 2016

Posted: Thu Jun 28, 2018 6:56pm

Don't give the agent any money in terms of a deposit 

Don't use any solicitor recommended by the agent

Budget 13% on top of sale price. 15% is too high.

Tifah

Posted: Thu Jun 28, 2018 7:26pm

Tifah

Original Poster

Posts: 28

Location: La Fiesta

Joined: 17 Apr 2018

Posted: Thu Jun 28, 2018 7:26pm

This post that was quoted has been deleted.

Hi

Thank you for your reply.

I was told by the agency the 5% they will do all the things as mentioned earlier.But to my knowledge there is no solicitor use by the agency side and i was told that the owner itself will be representing me at the notary.I am a bit worried and also i dont want to spend too much, as lawyer fees plus that 5% is really a lot.I will need to clarify more on this.If you dont mind how much did the lawyer charge you?How much did you pay for the agency?

Tifah

Posted: Thu Jun 28, 2018 7:32pm

Tifah

Original Poster

Posts: 28

Location: La Fiesta

Joined: 17 Apr 2018

Posted: Thu Jun 28, 2018 7:32pm

271935 wrote on Thu Jun 28, 2018 6:56pm:

Don't give the agent any money in terms of a deposit 

Don't use any solicitor recommended by the agent

Budget 13% on top of sale price. 15% is too high.

Thank you for your reply.

I was told i need to pay that 5% for the agency doing all legal fees and i am still without any lawyer.Not even from the agency side.I have paid 10% deposits to the agency account as most agency requires to do that as soon as you want to book a house.

271935

Posted: Fri Jun 29, 2018 10:32am

271935

Very helpful member

Posts: 837

679 helpful points

Location: Villamartin

Joined: 30 Apr 2016

Posted: Fri Jun 29, 2018 10:32am

1700e all in I paid which covered.

Notary

Solicitor Fees

NIE

Utilities 

Land Transfer

Opening Bank Account 

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Tifah

Posted: Fri Jun 29, 2018 11:29am

Tifah

Original Poster

Posts: 28

Location: La Fiesta

Joined: 17 Apr 2018

Posted: Fri Jun 29, 2018 11:29am

This post that was quoted has been deleted.

Thank you for your message.I appreciated it a lot.Yes i have got a receipt for the deposit from the agency.

I will contact a lawyer soon to help me.

killjoy

Posted: Fri Jun 29, 2018 11:43am

killjoy

Super helpful member

Posts: 3233

1849 helpful points

Location: Orihuela Costa

Joined: 4 Nov 2017

Posted: Fri Jun 29, 2018 11:43am

There is another rather hidden tax "Impuesto sobre el incremento del valor de los terrenos" impossible to determine without having certain relative information  from the vendor. Furthermore, this tax legally to be born by the vendor. But usually ist is "agreed" to have the buyer make this payment. Referring the whole paperwork to a "gestoria" whose will easily result in another 300-500,-. Think about some 13% on the sales amount for taxes, costs, and fees.

Tifah

Posted: Fri Jun 29, 2018 11:44am

Tifah

Original Poster

Posts: 28

Location: La Fiesta

Joined: 17 Apr 2018

Posted: Fri Jun 29, 2018 11:44am

This post that was quoted has been deleted.

Hi

Thank you for your message. It is very clear stated the prices which you have paid.Did you need to pay for agency fees if the lawyer does all these for you?

Which lawyer are you using?

Tifah

Posted: Fri Jun 29, 2018 11:50am

Tifah

Original Poster

Posts: 28

Location: La Fiesta

Joined: 17 Apr 2018

Posted: Fri Jun 29, 2018 11:50am

271935 wrote on Fri Jun 29, 2018 10:32am:

1700e all in I paid which covered.

Notary

Solicitor Fees

NIE

Utilities 

Land Transfer

Opening Bank Account 

May i know the lawyer's name or their website? I am trying to get a service proposal quotation.

Tifah

Posted: Fri Jun 29, 2018 11:52am

Tifah

Original Poster

Posts: 28

Location: La Fiesta

Joined: 17 Apr 2018

Posted: Fri Jun 29, 2018 11:52am

killjoy wrote on Fri Jun 29, 2018 11:43am:

There is another rather hidden tax "Impuesto sobre el incremento del valor de los terrenos" impossible to determine without having certain relative information  from the vendor. Furthermore, this tax legally to be born by the vendor. But usually ist is "agreed" to have the buyer make this pa...

...yment. Referring the whole paperwork to a "gestoria" whose will easily result in another 300-500,-. Think about some 13% on the sales amount for taxes, costs, and fees.

Okay.Should the seller then pay the taxes?Should be deducted from the last payment payable to the owner.

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