Costs and Proceedures of buying in Spain

Muy Buenas,

Just joined this forum and like all beginners took a while to realize that answers come in backwards... I will get a avatar set-up one day but dont know how to resize my photos and have already spent toolong surfing for the answers I am now hoping some of this forum's 'regulars' can help me with.

Besides the purchase price of the plot what are all the costs I can expect (notary, surveyors, stamp duty etc etc)?

Although I speak Spanish I am not familiar with the equivalents of Stamp Duty, Capital Gains etc. do you?

What are the various checks and procedures I need to make before buying and subsquent to starting to build?

There might be some wonderful member who has all this on a single sheet laid out for 'verdes' like me. If not url links etc would help.

Cheers - and dont panic about the recent news about the bubble. Spain is still going to be a number 1 destination for years to come.

Hi Patrick/Smiley,

Thank you for the lightening reply.

I am in talks with a Spansih developer to build residential flats in the Canaries aimed at young couples and workers first home buyers - so not the typical UK expat tourist villa target!!

Hopefully this area will continue to meet strong demand despite the recent bad news of propety bubbles...

In the initial proposal there is an entry of €90,000 for "VARIOS" which has been explained as bank interest repayments as well as all the other charges involved such as

Gastos notarios

Gastos adminstrativos

Licensa de primeira ocupacicion

Pago del proyecto de ejecucion

Licensa proyecto basico

Honorarios Arquiteto

Honorarios Aparejador

Hacienda

Apertura de hipoteca

Plusvalia

Other costs I anticipate (but do not yet know in Spanish) are

Land registry

Transfer tax (ITP)

Stamp Duty

My objective with this chat thread was to try to identify all possible charges/costs and get their translations for myself and other EOS members

If you can contribute to any of this information gatheing, it would be appreciated.

Gracias

Hi Patrick, I have contacted some lawyers in Madrid however since, at this stage. we are still in 'talks' with the developer, I have not apppointed them yet - hence my querry.