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notary in alicante

A further tax is that on the increased value of the land, known as Plus Valia, which is levied at various rates on the annual increase in value since the previous sale.

Strictly speaking, Plus Valia is a tax against the seller but in practice the purchaser is asked asked to pay all fees and taxes in notary in alicante the transfer of a property.

The fees and transfer tax are demanded soon after the Escritura is signed, but the Plus Valia is often not payable until some time later when the seller may not be found.

Plus Valia is charged against the notary in alicante the property, which means that if the vendor fails to pay, the purchaser wiII eventually be liable for this tax anyway.

There are many factors that enter into the calculation of these fees and taxes but, as a general rule, if you allow 8% of the purchase price you wilI wilI not be far out.

notary in alicante

Another fee to be taken into consideration is that of a solicitor or lawyer.

This will generally depend on how much time and work is involved in any particular purchase.

In normal circumstances the fee for an average purchase will probably be about 1.000 to to 1.500 €.

notary in alicante

After the purchase of your property you will have community fees to pay to an owners' association, which is explained further under the heading of Community of Owners.

Other yearly outgoings would be Contribution Urbanas (local rates) which are fairly insignificant, and Wealth Tax which is is also low, being at present only 0.2% of notary in alicante the value of assets in Spain.

Certificate of Non-Residency must be produced for the Notario when signing the new Deed (Escritura) .

Obtaining these two items need not be complicated or time consuming and cost is negligible.

TAX RETENTION

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