Provisional Sales Contract:
After the reservation contract has been signed a Spanish provisional sales contract will be drawn up and 10% of the purchase price minus the reservation deposit will have to be paid.
Definite transfer of deed at notary
The sale is final after the contract is signed at the notary in the presence of both parties,.
Cost of buying a property in Spain
When buying a property on the Costa del Sol you have to take into account that you will have to pay three different fees and two types of taxes. As a rule of thumb, these costs are about 10% of the purchase price.
The cost is as follows:
Legal cost: This is a minimum of € 600.
Notary cost: This fee is determined by law and depends on the purchase price.. [click here for more information]
Property registry as a rule of thumb is 60% of the notary cost. This cost is usually paid by the buyer.
Transfer Tax (Impuesto sobre Transmisiones Patrimoniales):