Notary costs in Spain

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06 Oct 2015 20:46 by muroms Star rating. 1 posts Send private message

Hi

I have invested into a simple bungalow in Torrevieja. The agent's solicitor estimated notary costs to be ca EURO 900 (with the margin in my view). Suddenly comes the message that notary got by bank transfer EURO 4 500 and would not disclose specification! I have read that notary cost is set up by the state and is 0.4% for the property below EURO 100K plus 16% VAT. Registry chamber takes 0.3% plus same VAT. If this info outdated?





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07 Oct 2015 09:48 by Suntanneddude Star rating in Hertfordshire. 117 posts Send private message

Hi,

Have you also included Land Registry (Catastral Office in Spain) in your figures?

Regards,

SD cool



_______________________

Liars & cheats always get found out!




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07 Oct 2015 13:31 by mariadecastro Star rating in Algeciras (Cadiz). 9328 posts Send private message

Legal Questions? Speak to Maria Direct

Dear Muroms:

It seems an excessive charge for Notary fees to me and of course, they are subject to specification and you can claim on any excess.

You have a calculator here ( in Spanish though): https://www.ocu.org/inversiones/aspx/calculators/notary/?5

In 2010 , the  Spanish Government  included a reduction of 5% on fees charged by notaries and Property registrars in relation to documents where value is expressed such as deeds of house purchase.

This has been made in the recent decree of extraordinary measures to reduce the deficit.


This was the scale till then:

Until       6,010.12--------------------------------------------------90.15 euros

Between  6,010.13 and 30050.60 euros-------------------------- 4.5 per 1,000

Between 30,050.61 and 60,101.21 euro------------------------- 1.50 per 1,000

Between 60,101.22 and 150,253.03euros-------------------------- 1 per 1,000

Between 150,253.04 and 601,012.10 euros----------------------- 0.5 per 1,000.

Between 601,012.11  and 6,010,121.04 euros-------------------- 0.3 per 1,000

From 6,010,121.05: the amount that may be freely agreed by the parties.



_______________________

Maria L. de Castro, JD, MA

Lawyer

Director www.costaluzlawyers.es

El blog de Maria



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