Costs of Buying Property in Spain

 

Introduction

Whether you are buying or selling a property in Spain there are a number of costs associated with the process. A number of these you will expect if you have been through the process in another country, but some you will not.

In this article the main charges will be covered and the party that is usually responsible for payment shall be identified.

However, it should be borne in mind always that the concept of freedom to contract is a cornerstone of Spanish law and the parties may always assume whatever responsibilities they wish with regard to payment of the costs and taxes incurred when transferring property in Spain.

 

Valuation of the Property

The first step in a typical home purchase is to have the property valued. This is often at the insistence of the financial institution that may issue the mortgage although they will insist that you, the buyer, must pay.

The person carrying out the survey must be certified by the Ministry of Finance under the Law Regulating the Mortgage Market (Ley 41/2007).

The minimum amount chargeable for the carrying out of a valuation is €208 and will ultimately depend upon the following factors:

  • Not all surveyors or survey companies charge the same<
  • Where the property is located<
  • Will the surveyor need to charge expenses (mileage etc) to reach the property
  • Does the surveyor need to access technical information (plans etc)

Ultimately, the financial institution will have to accept the surveyors report and so you will most likely use one recommended by them or by an independent surveyor like TINSA that is well known and has links with most of the financial institutions.

The Association of Professional Property Surveyors recommend a price of between €250 and €300 for a property valued at €120,000 and it increases according to the value of the property.

Accordingly a property valued between €300-350,000 will normally cost approximately €350. This is normally paid in advance of receiving the actual survey report.

 

Checking the Property Register

To ensure that the particulars of the property are correct i.e. the identity of the current owner(s), the mortgage charges and any other encumbrances that currently exist on the property and the existence of any court judgments affecting the property etc it is necessary to check with the property register at the local town hall where the property is located.

If you do this yourself  the cost is a nominal administration charge of approx. €10.

 

Client Testimonials

Recent Advocate Abroad property lawyer reviews as added by clients directly to the Wufoo client survey platform:

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    Rosemarie Byrne and John Cooper, Dublin Ireland
    Tuesday, October 09, 2018
    We found Francisca extremely helpful with a great amount of knowledge about buying a house and re-locating to Spain.
  • Default Avatar75
    David Roots, England
    Monday, October 01, 2018
    We were very satisfied with the service we received. Rosa dealt with the matter in hand promptly and efficiently.
  • Default Avatar75
    Darren & Gemma Nesbitt, Valencia
    Tuesday, September 11, 2018
    Inmaculada has been of excellent service to us, as a family and in helping to set up a business in Spain. She has now undertaking several project for us and has delivered high quality on all of them. ...Perfect service!
  • Default Avatar75
    Jovie, Malaga
    Wednesday, September 05, 2018
    My lawyer Alvaro was extremely helpful and very efficient. I would definitely recommend his services to friends.
  • Default Avatar75
    Daniel Spitzhorn, Spain
    Tuesday, August 14, 2018
    Miguel in Oviedo helped us during the process of buying a flat in Asturias. He was just brilliant!
  • Default Avatar75
    Tracey Iliffe Bradley, UK
    Tuesday, August 14, 2018
    Rosa dealt with everything efficiently and promptly and went beyond our expectations by helping us to open a Spanish bank account and deal with other minutiae.
  • Default Avatar75
    John Ryan, Derby, England
    Wednesday, August 08, 2018
    A perfect relationship between client and professional. Nothing was too much trouble.

    Went over and above his job and more. I would only use his services if I need legal services. I were very lucky... to find Jose first time round.

    Thank you jose
  • Default Avatar75
    Delbecq, France
    Friday, August 03, 2018
    Cristina, is extremely professional, fast, responsive understand and explain well, she always found appropriate solutions and provide good advices.

    She know how to deal and negotiate, and look self...-confident, and make you feel less stress, you can trust here.

    The value for money is good, and she is up to date with technologies (mail/google app etc… very practical).

    It was a pleasure and a great luck to found here and have here at my side for my case. For anything, i should need a lawyer she will be the one I’ll work with
  • Default Avatar75
    Mohamed Nasir, England
    Monday, July 30, 2018
    My lawyer Carmen is a nice lady ,very professional. I would like to be her client again if I need a lawyer in the future.
  • Default Avatar75
    Neil Linter, London
    Tuesday, July 24, 2018
    Cristina immediately understood our requirements and was essential in guiding us through a very tricky process.
  • Default Avatar75
    Mr David P Robson, Valancia
    Thursday, July 12, 2018
    My lawyer Francisca offered value for money and was very helpful. Will use her again.
  • Default Avatar75
    Richard Day, London and Barcelona
    Thursday, July 05, 2018
    My initial call to your service desk was responded to by Oscar very quickly.

    I appreciated his time as I outlined my issue, a problem with the building community and administrators. At the end of ...the call he provided clear guidance on next steps.

    Furthermore he quickly turned around the issue with an excellent drafted response for which I could not of hoped to be better worded. It was comprehensive and aligned perfectly with what I felt was needed.

    Excellent value for money and most definitely I would highly recommend Oscar.
  • Default Avatar75
    Søren Aabel Hammer, Malaga
    Thursday, July 05, 2018
    Beatriz was professional and quick to respond. Would definitely recommend to friends.
  • Default Avatar75
    Niall Purdie, Barcelona
    Monday, June 25, 2018
    Anna helped me purchasing my house, she was knowledgeable and professional throughout. I would recommend using her legal services.
  • Default Avatar75
    Peter & Anita Bradshaw, Leeds, England
    Monday, June 18, 2018
    We could not be more happy with the service we received from Jaime.

    He responded immediately to our enquiry and it was clear from the outset that he fully understood our position. It was vital tha...t Jaime acted quickly in this matter and he did so in a highly professional and competent manner, providing us with clear and concise updates throughout.

    We found Jaime to be very polite and approachable and we believe his fees to be very reasonable. We would genuinely not hesitate to recommend his services.

    Before contacting Jaime, our previous experiences of Spanish Lawyers had been appalling - in fact we needed Jaime's help to resolve issues which previous Lawyers had created. Our only regret is not finding Jaime sooner!

    Thanks so much for all your help Jaime.
  • Default Avatar75
    Tracey and Mike Iliffe Bradley, Colchester, United Kingdom
    Tuesday, May 29, 2018
    From our very first contact through to the end of our purchase, Rosa surpassed all expectations.

    She was helpful, efficient, always quick to return our communications and a pleasure to deal with. ...We have already recommended her services to a friend.
  • Default Avatar75
    Rl, Alicante
    Thursday, May 24, 2018
    Felt very comfortable at all times. Nothing was too much. Understood everything mentioned in our meeting. Very reasonable rate, money wise.
  • Default Avatar75
    Cian O'Grady, Ireland
    Tuesday, May 15, 2018
    We bought a property in spain and Lidia assisted us through the buying process.

    She was very professional and reassured us throughout the process.Her english was very good and we felt that we got ...good value for our money.
  • Default Avatar75
    PJU, Torun, Poland
    Wednesday, May 09, 2018
    Béatriz responded quickly to any queries I raised, with easily comprehensible answers.

    Her fee was very reasonable and she proved to be a very personable and approachable person when we finally m...et at the Notary.
  • Default Avatar75
    Geraldine King, Ireland
    Monday, May 07, 2018
    I was extremely happy with Pedro,and Ana. They were honest,and answered my queries promptly.

    Pedro had to evict my squatter tenants, and then organised an estate agent to sell my apt. This agent un...dertook renovating the apt, and got me a good price.

    Pedro and his brilliant co-worker Ana finalised the sale and I received the money into my account, without me ever setting a foot in Spain.(Power of attorney).

    I will be recommending Pedro to friends, who are going to sell their apartment in Torrevieja. I highly recommend him.
  • Default Avatar75
    George Salib, London
    Monday, April 23, 2018
    Jose Antonio was very professional and has assisted me in every step of the purchase of my flat in Alicante.

    He also assisted me by advising of the most suitable area according to my needs. His com...mitment and dedication is excellent.

    Jose Antonio was very easy to approach and happy to help in any way he can.

    I will definitely recommend him to my family and friends.
  • Default Avatar75
    Duncan Martin, Wolverhampton, England
    Friday, April 20, 2018
    Lidia, was extremely helpful and patient throughout the process.

    She was very attentive and responsive and explained everything in detail.

    Lidia represents excellent value for money and the so...lutions she recommended were very beneficial, especially as you hear and read about a lot of horror stories on the web.

    Lidia was the best legal representative i have employed and i will always use her where Spanish legal affairs are concerned.
  • Default Avatar75
    Pernilla, London
    Friday, April 13, 2018
    We had excellent service from Esther at Advocate Abroad when buying a property in Las Palmas, Gran Canaria.

    Esther speaks both Spanish and English, and is very friendly, professional and genuine. ...She took care of the whole purchasing process and explained all the steps for us, including giving advice on Spanish bank account, NIE numbers etc.

    We are very pleased with all the help we have received and can highly recommend Esther. Thank you so much!
  • Default Avatar75
    L Marshall, London
    Wednesday, March 28, 2018
    Rosa was excellent. Very efficient and professional.

    Responsive and always available. Extremely helpful - we did not understand the process and she guided us through.

    We would not hesitate to ...recommend her.
  • Default Avatar75
    Robert Scott, UK
    Wednesday, March 07, 2018
    First class service. Rosa's professionalism, advice and patience were all exemplary! Keep up the good work. Will certainly recommend the service to friends!
  • Default Avatar75
    M Pearce, Marbella
    Monday, March 05, 2018
    Miguel was extremely helpful, he couldn't have done more:

    Always kept us updated on the progress of our purchase
    Always responded to emails in a professional and timely manner
    Always explained to... our understanding all aspects of the legalities about the purchase
    Very approachable,courteous and professional

    So much better to deal with than UK property lawyers!

  • Default Avatar75
    Andrew Bullen, UK
    Friday, February 16, 2018
    Rosa was very professional at all times when dealing with me. Her English was second to none and she always kept me informed of progress via email promptly.

    I wouldn't hesitate to use Rosa in the ...future for any legal issues I have.
  • Default Avatar75
    Tamara Reeves, Australia
    Thursday, February 15, 2018
    Anna was very knowledgeable and had prior experience dealing with English clients. She spent a lot of time explaining information and I was never rushed.

    I have continued to use Anna since my firs...t meeting as I trust her judgement and know that she will look after my best interests.
  • Default Avatar75
    Lisa Jones, UK
    Thursday, January 25, 2018
    Kristina was extremely helpful throughout the process of buying my property in Spain. She was very easy to reach at all times and very professional. I would highly recommend Kristina to anyone buying ...a property in the area.
  • Default Avatar75
    Jackie Acres, UK
    Thursday, January 25, 2018
    Miguel is fantastic, his English is superb. He responds clearly and concisely and always quickly too.

    He is helpful and approachable and has always answered all my questions very thoroughly. He’...s very polite and an absolute pleasure to deal with.

    I hope he never retires!

Escritura Publica

While it is perfectly legal to arrange for the transfer of a property in Spain via a private legal contract, this is not the typical way of doing so.

The reason is that for the new property title to be registered in the public property register it is necessary to complete the transfer of the property by public deed or ‘escritura publica’.

From a practical point of view, no financial institution will offer a mortgage to facilitate the purchase without a public deed.

This involves the drawing-up of the deeds of transfer by a public notary. This is an independent official,  who oversees the process and ensures that the proceedings take place according to the law and that the documentation is verified.

 

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