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Wednesday, June 20, 2007
nicolas
Parcela
I'm in Vejer, Cadiz and Rio, Brazil
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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.
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Nicolas
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20 Jun 2007 8:19 PM
Smiley
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I'm in San Pedro de Alcantara
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Hi Nicolas as a rule of thumb additional costs of buying in Spain should be estimated at 13% of purchase price of the property itself. However it sounds as if you are planning to build on your own plot. There is 16% IVA to add to the price of the land for a start. Additional expenditure is very much dependent on what you are doing and the price of the house etc so to give a generic answer is almost impossible.
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21 Jun 2007 9:48 AM
nicolas
Parcela
I'm in Vejer, Cadiz and Rio, Brazil
I've made 4 posts
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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
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Nicolas
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21 Jun 2007 12:56 PM
Smiley
** EOS Superstar **
I'm in San Pedro de Alcantara
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Hi Nicolas I assume that if you are in talks with a developer to build a block of apartments for affordable housing you have appointed a lawyer. Can I recommend that you ask him to give you a full breakdown and explanation of how the procedures work
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Smiley - patrick@marbellamortgages.com www.marbellamortgages.com
Sarcasm is the lowest form of wit .....but any form of wit is an achievement
NO MATTER HOW MUCH MONEY YOU HAVE GOT, IF YOU HAVE NOBODY TO SHARE IT WITH, THEN ITS JUST NUMBERS IN THE BANK.
TO ESCAPE CRITICISM DO NOTHING, SAY NOTHING, BE NOTHING!
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21 Jun 2007 2:12 PM
nicolas
Parcela
I'm in Vejer, Cadiz and Rio, Brazil
I've made 4 posts
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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.
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