The property price on our web always includes brokerage fees. We do not charge any additional commissions.
The extra expenses that a buyer encounters are Taxes and the Notary fees. The total purchase expenses in case of buying a €150.000 worth a property would sum up to 8% of the value declared in the Title Deed. In the case of a mortgage, these expenses will sum up to 10% of the value. These calculations are based on the following expenses:
- Capital Transfer Tax (Canarian IGIC): 7% of the purchase price if bought from a building company (the first owner).
- Tax Legal Acts (notary tax): 1% also paid only if bought from a building company (the first owner).
- Capital Transfer Tax (Canarian IGIC): 6,5% of the purchase price if bought from a private owner (second hand).
- 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 Register – an average of €450.
- Legal Services company – €700.
In case you apply for a mortgage from a Spanish bank, these amounts should be added:
- Bank commission – 1% of the amount issued.
- Evaluation of the property by an independent company – €200 – 600, depending on the size of the property.
- Notary fees for the second Title Deed (which establishes the relationship between the bank and the borrower) – €600.
- Obligatory Property Insurance – € 150 – 400 per year, depending on the property.