Hidden Costs When Buying Property in Spain

Ten Property Conveyancing Costs You Should Be Aware Of in Spain!


1. The Property Valuation

The amount charged by the notary is controlled by law and varies according to the price of the property.

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
  • The location of the property
  • 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.


2. Deeds of Purchase

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.

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

The process involves the drawing-up of the deeds of transfer by a public notary. A notary 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.

Below is a table with approximate costs according to house price. Please note these may vary and the cost must always be confirmed by the notary before proceeding:




3. Inscription on the Property Register

Once the property has been transferred it is advisable to register the new ownership details with the public property register.

Apart from not being able  to obtain a mortgage without doing so, failure to register can cause multiple problems in the future with regard to future property transfers, inheritances, defending title against third parties etc.

Below are approximate costs for having this carried out. It will be necessary to check specific prices with the individual registry.




4. Removal of the Previous Mortgage From the Registry

While not a legal requirement, it is preferable to have the previous mortgage removed from the property register.

This is the case even though the mortgage has been paid off following the sale of the property. The charge will still appear on the register and it’s removal incurs a number of charges, notably notary and registry charges.

The process involves obtaining a certificate from the financial institution that issued the mortgage that the mortgage has been discharged.

This certificate is then presented to the notary who draws up a public deed to that effect. The deed is then presented to the registry for inscription on the property register which thereby removes the mortgage charge from the property.


5. Legal Costs

Solicitor’s costs for providing the legal assistance required for purchase or sale of a property in Spain, while they may vary from lawyer to lawyer, will typically average around 1% of the value of the property.

This may vary if the value of the property is particularly high or low, but for most ‘average’ conveyances, the costs will be approximately 1%. Also, the fee may rise if the lawyer is required to carry-out more work if a mortgage is used to purchase the property.

Bottom line, as in any other professional field, you will need to check with the individual lawyer and perhaps pay a dividend for any lawyer with a particularly good reputation.

Pages: 1 2

Call or Message Us on WhatsApp!