Buying your dream property
When you see the property in Spain which you wish to purchase, you must have the means to pay a deposit immediately - either by cash, credit card or cheque. The cheque may be drawn in Euros or Sterling. The deposit secures the property and fixes the price. It is non-refundable. The payment schedule for Spanish properties is as follows
New properties:
- Deposit of £2000.00 or €3000.00
- Normally 50% in one month
- Balance on completion
Some builders are currently offering different payment terms - ask us for details.
Resale properties:
- Deposit of £2000.00 or €3000.00
- 10% less initial deposit within 14 days
- Balance on completion - usually four to six weeks.
I.V.A. (VAT) on properties is 7%. A further 3% is required for legal fees which include:
- Solicitor's fees
- Notary fees
- Stamp duty
- Land registry fees
- Electricity and Water connection
We can also help to arrange a Spanish mortgage of up to 80% of the valuation (subject to status).