Although it is not mandatory to buy property in Spain assisted by a Lawyer, it is highly advisable that you do; particularly if you are a non-resident.
How much are solicitors fees for buying a house in Spain?
Solicitor’s costs for providing the legal assistance required for purchase or sale of a property in Spain, while they may vary from lawyer to lawyer, will typically average around 1% of the value of the property.
How much does a lawyer cost in Spain?
Many law firms in Spain charge between 1% and 1.5% of the value of the property for their legal services, whilst others Spanish law firms charge on an hourly basis or a flat fee (all fees attract VAT). Just be warned that there are considerable variations in fees and fee structures.
What are the pitfalls of buying property in Spain?
Some of the common pitfalls of buying a property in Spain include deposit, purchase tax, issues with off-plan properties and properties being built illegally. During your research into buying a property in Spain you will have come across many stories of purchases in Spain gone wrong.
How much council tax do you pay in Spain?
The tax payable will usually be very low, based on a taxable amount of 1.1 per cent of the rateable value, taxed at the rate of 19 per cent.
How do I find a lawyer in Spain?
Ideally, you should hire a solicitor based in Spain, and preferably in the region where you are buying. Locally based lawyers can easily visit the town hall of the municipality where you are buying, and may even know the mayor, the municipal architect, and the local Notary.
Who is a gestor in Spain?
A gestor (or gestoría) is a private professional agent who specialises in dealing with Spanish administrative bureaucracy on behalf of a client.
How long can I stay in Spain if I own a property?
You will be allowed to spend up to 90 days in Spain, and then you must leave the country. You will not be able to return until 180 days have passed since your date of entry into Spain (or Schengen). However, you can divide the 90-day period into two (45 days each) and spend each of them in Spain during the 180 days.
Do I need a Spanish bank account to buy a property in Spain?
You will need a bank account in Spain to pay the utilities invoices and the fees of the Community of Property Owners. In the case that you obtain finance to buy the property, you will also need a bank account for the mortgage monthly repayments.
How much deposit do I need for a Spanish mortgage?
For a Spanish mortgage, you will generally need a minimum deposit of 30% of the property’s purchase price, with borrowing rates currently starting around 2% (lower for premium clients). “The maximum mortgage for non-residents is 70% of the purchase price or valuation, usually depending on which is lower.
What bills do you have in Spain?
Paying Utility Bills in Spain
- Local Property Tax.
- Rubbish Collection Tax.
- Community Fees.
- Electricity fees.
- Gas and Telephone.
What is Spanish Suma?
Website: www.suma.es. Suma Gestión Tributaria (Suma) is a 100% public provincial agency set up by the Provincial Council of Alicante (Spain) in 1990. It specializes in tax administration: assessment, billing, collection and enforcement. Suma collects the taxes on behalf of each city council with own resources.
What does IBI mean in Spain?
IBI Tax – Definition
The Impuesto sobre Bienes Inmuebles (IBI, for short) is a tax that applies to both residents and non-residents. In some parts of Spain, it is known as SUMA. All property owners must pay this tax every year. This is a local tax levied by the town hall where your property is located.