Be mindful of any unforeseen expenses while buying a house.
Posted by Elijah on November 14th, 2022
In different parts of Spain, the impuesto de transmisions patrimoniales, or property transfer tax, is currently 8% of the purchase price and 6% of the value specified in the resale contract. A developer's new construction costs 7%. You must also pay a document fee (stamp duty) of 0.5% to make it official. Again, Andalusia regions in southern Spain, add 1% taxes to the total.
This is done on a scale based on the size of the land and the cost of the transaction. The Notario fee is between 300 and 600 euros, and an additional fee of between 300 and 600 euros is required for the property abogados de divorcio to be registered in your name in the Registro de la Propiedad.
Abogados, or lawyers
Always request a recommendation for a lawyer or Abogado who is fluent in English; you'll need someone to look over all the paperwork and give you guidance on the buying process. They normally cost around 1% of the purchase price, so ask about their fees in advance. So there are no surprises later, ask the attorney to give you a written estimate of all fees. Buyers are frequently caught off guard at the notary office, where you legally acquire and register the property in your name, so it's very uncommon for people to scramble to come up with extra cash for surprise fees on the day of signing.
In this situation, you must decide between moving the entire contents of the house and relocating them and selling your furniture back in the UK and purchasing new items to fit your new home. Moving your possessions to Spain can cost as little as 2,000 euros or as much as 6,000 euros, depending on how much you have to transport. In the UK, packing takes one to two days, travelling takes four to five days, and unloading takes one to two days. Always confirm the insurance coverage of the moving company because breakages can occasionally happen.
It's crucial to coordinate the times you sell in the UK with the times you can pick up the keys in Spain. You might need to store your household items because these don't always line up; if so, your movers will give you a quote. Alternatively, you could sell everything in the UK and buy everything new, which is what my wife preferred to do and served as a great justification for the four of us to go house hunting.
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About the AuthorElijah
Joined: August 6th, 2022
Articles Posted: 135
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