Once you have decided to purchase a property, you would have
to look for a lawyer. You don't need to worry about it being
with us at CostaLuz Chiclana, as you can make use of our
legal
department free of charge.
The lawyer’s role is to guarantee that the legal proceedings
are correctly made (the property must be free from encumbrances;
when it is under construction, to fix the date completion
of building work is due to be finished; the writing of the
contract of sale; methods of payment; registration of the
new owner at the Land Registry Office; signature at the notary’s
office; etc.) and that the sale comes to a conclusion in a
satisfactory way.
The expenses to be faced when purchasing a property are
as follows:
· Fees:
They consist of the notary’s professional fee and
the registration at the Land Registry Office, which usually
are half of the amount of the notary’s fee.
· Taxes:
- When buying a 2nd hand property, 7 per cent is to be paid
for the ITP (Impuesto de Transmisión Patrimonial
= Properties Transmission Tax)
- If it is a new building, 7 per cent is to be paid for
the V.A.T., in addition to the Actos Jurídicos Documentados
(Documented Legal Acts).
- If the purchase is a plot of land, a garage or a shop
unit, the V.A.T is 16 per cent.
- When buying a property, the Added Value Tax is also to
be paid (which is collected by the Town Council), and by
law, should be paid by the seller, unless (the parts) it
is stipulated that the buyer bears this tax. In this case,
this agreement must be recorded in the sales contract.