PURCHASE EXPENSES

The property prices on our web site always include the brokerage fees. The fees are paid by the owner, and we do not charge any additional commission from the buyer. Apart form the sales price the buyer pays taxes and Notary fees, that depend on wether you buy a property form a builder and you are the first owner, or if you buy a second hand home.

For a second hand property:

• Capital Transfer Tax (Impuesto de Transmisiones Patrimoniales): 6,5% of the purchase price declared in the Title Deed.
• Notary fees – an average of € 800 per Title Deed. The exact fees depend on the number of pages in the Title Deed as well as the number of property owners.
• Title Deed registration in the Property Registry – an average of € 800.
• Legal Services company – € 700.

For a newly-built property:

• Purchase Tax (Canarian IGIC): 7% of the purchase price declared in the Title Deed.
• Legal Acts Tax (Actos Jurídicos): 1% of the purchase price.
• Notary fees – an average of € 800 per Title Deed. The exact fees depend on the number of pages in the Title Deed as well as the number of property owners.
• Title Deed registration in the Property Registry – an average of € 800.
• Legal Services company – € 700.

In case you apply for a mortgage from a Spanish bank, please remember of some additional expenses:

• Bank commission – 1% of the amount issued.
• Evaluation of the property by an independent company – € 300 – 800, depending on the size of the property.
• Obligatory Property Insurance – € 150 – 400 per year, depending on the property.