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spanish-legal-advice-solicitors

solicitors in alicante

It must not be forgotten that Spanish Law considers the obligation of each owner to pay his share of Community expenses as an obligation superior to all others.

Community Fees vary depending on the type of development and standard of upkeep.

Spanish law provides the answer to practically every every problem solicitors in alicante that is likely to arise in a Community, but owners must look after their own interests, attend meetings and vote Initial Costs

As well as the cost of the property, the buyer will be liable for transfer tax (IVA) , which at present is 6% on a second-hand second-hand property and 7% on a new one, plus 1/2% stamp duty.

solicitors in alicante The property registration office will charge you a fee to change the new deeds into your name.

This is usually around 300€.

There will also be notary charges for copies of the 'escritura publica'.

The charge is on a a scale depending on solicitors in alicante the contract price.

In total you should allow 10% of the purchase price for costs.

It is often the case that the buyer also pays the sellers fees.

Check this at the point of enquiry and it is often possible to negotiate.

Banks may also charge an an opening commission for mortgage loans.

solicitors in alicante

Annual Costs

The local town hall charge IBI which is an annual real estate tax.

The previous owner is obliged to give you copies of previous bills.

Community charges apply when you buy a property on a community development.

These cover things like like maintenance, swimming pools, gardens etc.

You will also be liable for a wealth tax, payable annually and based on solicitors in alicante the value of the property and a property owners income tax based on your income from the property.

You should clarify these in detail with your estate agent at point

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