Expenses
On all Spanish property purchases you will need to allow 10% of the purchase price to cover your buying costs.
This should be allowed for within your budget to take care of the various procedures listed below.
7% Tax on the value of the deeds (7% IVA on a new property).
Lawyer´s fees (which includes the transfer of services into your neame i.e. water, electricity and rates etc).
Notary fees - the Notary is an independent professional, whose job is to see that all contracts are raised and signed correctly. He wil also raise the necessary searches prior to signing.
