Spain | The Buying Process

In a real estate transaction in Spain there are also other costs involved as listed below

We strongly advice you to ask a legal advisor for help in the purchasing process. If you don't have an own attorney we can help you find a local attorney for the process

Reservation of the property

Before you need to reserve the real estate you are interested in, we make sure it is still available and not reserved by any other person

  • Reservation Contract. After the seller and buyer have agreed on the price, buyers usually pay about € 6,000 in reservation fee as proof that you will complete the deal. This is the first step. Then the property is reserved and removed from the market. At the same time, a reservation agreement is established that states the deposit

The Cost of Buying

New Build Real Estate

  1. Real Estate Agency Fees (Paid by seller)
  2. VAT 10%
  3. Stamp Duty (AJD) 1,5% - 2%
  4. Public Notary Fee 0,6%
  5. Land Registry Inscription Fee 0,3% - 0,5%
  6. Electrical- and water agreement is about 350€
  7. Legal Advisor / Attorney Cost is around 1200€

Resale Real Estate (Pre-owned properties)

  1. Real Estate Agency Fees (Paid by seller)
  2. Transfer Tax 8% - 10% (ITP)
  3. Public Notary Fee 0,6%
  4. Land Registry Inscription Fee 0,3% - 0,5%
  5. Electrical- and water agreement is about 120€
  6. Legal Advisor / Attorney Cost is around 1200€

Costs and fees can change during times, we advice you to stay in touch to get most updated info


GENERAL USED PAYMENT PLAN:

Reservation of the property with a 6000€ reservation fee

  1. 10% is due after 1 month (Private contract)
  2. 10-20% is due after 3 months
  3. 60-70% due at closing (Public Deed / Escritura Pública)

More info can be provided at the reservation