Looking to return to Spain-freehold business required please.

Morning

Now that many members of the forum have and/or are starting to complete on purchases on Condado

Does anyone have an handle on the ancilliary costs required to complete ???

 I am trying to sort out a budget, but I keep hearing about new charges and my Euro budget is increasing daily !

My list of charges includes the below - We have decided not to go with the Polaris builders mortgage.

Mortgage tax at 1%
Bank Arrangement Fee
Bank Valuation Fee
Stamp Duty on Purchase at 1%
Solicitor Fees at 1%
Notary and Land registry fees for mortgage and puchase deed (this was a new one on me ?)
Buildings Insurance

Its a similar situation when you buy a house in the UK and not until the final day you aware of exactly y how much it costs you - I am just a bit wary of all these "ancilliary charges" and would appreciate anyones experience on this !!

Have a good day

Mark


 

Hi Mark,

You are right, the figure goes up on a daily basis!

I have a full breakdown of the figures but the paperwork is all at home.  Will post it for you this evening after work, or over the weekend.  The biggest surprise was the Bancaja "arrangement fee" which was something like 1500 euros!  I don't recall the solicitor's fee being a percentage of the purchase price - ours was a straight 1200 euros.  The Notary fee seemed really expensive to me, but since our completion I have found out that the Notary actually registers the purchase of the property at the Land Registry.  I had assumed that this was done by the Solicitor as in the UK, but apparently not.

Debbie

Hi All,

Here are the fees I've been given for a 130,700 ( two bed ) apartment

AJD Taxes (1%)	€ 1,307.00
Notary	€ 1,200.00
Registry	€ 500.00
Legal (0.8%)+VAT(16%)	€ 1,212.90
Utilities	€ 400.00
Total	€ 4,619.90

Phil

Hi Phil,

Could you confirm what the 'legal' fees are. Is this for your solicitors services?

Thanks 

Angela

Hi Angela,

Yep, they are the solicitor fees.


Phil

Thanks Phil,

Thought it was but wanted to be sure. We've been quoted similar figures - only difference really is that our solicitor has quoted a cost of 1300 euros for the Notary & Registry bit. We don't have a completion date yet so that may change!

Good luck with completing.......we're still convinced that it will be worth all the pain in the end.

Kind Regards

Angela

Hi All,

We should have completed yesterday.

 Just wanted to make everyone aware that if you are taking a mortgage on the property then the Notary and Land registry fees are payable on both the property AND the mortgage. I.E TWICE

I don't know if this is the case with taking over the builders mortgage from PW but it definately is if you use any other Bank.

Phil

Think those, amongst others,  are the fees saved when you take the Builders mortgage