When buying in Spain, on top of the purchase price you should allow an additional 10% to cover your purchase costs (12% if you require a Spanish mortgage*). This 10% will normally include your solicitor fees, government taxes (which accounts for 7-8% of the costs), NIE application, notary fees and land registry fees.(*Due to the high set up fees of mortgages in Spain an additional 2% set up cost is required.)

THE PAYMENT STRUCTURES….

OFF PLAN NEW BUILDS– Pay a 3000 € deposit to secure your property. Stage payments (varies dependent on the builder) for the duration of the build time with the balance on completion.

KEY READY NEW BUILDS / RESALE – Pay a 3000 € deposit to secure your property. If a quick completion is planned ie less than 28 days,  the balance can be paid on completion. If completion time is 4-10 weeks the seller may request a further 10% interim deposit before the balance is paid on completion.