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Christian Wolf

Office:
Carrer Del Riu Tamesis 35
07800 Ibiza
Islas Baleares
España

Tel. +34 604 101 816
E- Mail: info@cw-ibiza.de

What expenses do I have to wait to buy a house soon?

VAT

The first, what you should consider is that VAT on all new properties with 8% and a transfer tax on resale (known as ITP) at a height of 7% (second hand) must be declared. So in summary, if the property is brand new tax is 8%; if sold, 7% taxes.

Attorney fees

Ibiza is the normal rate for a lawyer, 1.5% is charged, although it could be more, if the operation is not performed in a straight line. Alternatively, you can use the services of a "lawyer". A lawyer is a private agency that specializes in internal accountants and lawyers and all the bureaucratic ministries (all of which are known in Spain) focuses on behalf of members of the public. A lawyer normally calculated as 0.5%.

If you want to make a trip to Ibiza on the day of the termination of his contract, then it would be advisable to appoint a proxy, so your lawyer (or someone else who then act on your behalf) sign the necessary documents and payments can be made. This will result in a fee is charged, but probably save more by waiving flights and hotel visits.

Notary fees and stamp (surcharge Land Registry)

Is the notary to verify that all documents are in order, and that the parties are really those for which they seem. He is also the checks and certifies the signature. The cost of this is about 1%, respectively (including stamp duty amounting to 0.5%), but it will be higher when a new mortgage is recorded at a time. The notary cannot advise and it is not; Questions you have to provide your attorney is ultimately that in mind.

Plus Valia

Generally expected to pay Goodwill. It is a tax on capital gains, which is collected by the city council and will be reviewed by the town of how long the land was sold earlier and differs accordingly. A typical amount is 400 €, this could also be much higher if the property to be sold is in the same family for many years.

In theory, this tax is the responsibility of the seller of the property. Due to the possible lack of payment of such tax may lead to the State shall debt on the property, which then had to be paid by the new buyer, now is the accepted standard for reporting the tax payment to the buyer firm the contract. In the event that the seller offers to pay this tax, your attorney can advise you still have to pay and require these instead of the price of the property is reduced by the same amount.

The connection to public services
You should 150 euros for connection fees for water and electricity to calculate. Occasionally there may also be charges for connection of up to 300 euros for a greater effort in connecting the connectors.

After sales tax

Unlike some agents, offer anything for after the conclusion of the contract account services.

These are separate charges must be paid by you (or your attorney on your behalf if you configured a proxy).

Example

Suppose you are considering buying a property at 400,000 euros. The approximate cost would be:

Article Amount €
Legal costs € 6,000
IVA (IVA o ITP) € 28,000
Notary fees € 1,200
Plus Valia € 400
Supply terminals € 300
After Sales Quota € 0
TOTAL €35,900

The normal rule.

A total of € 35,900 or just under 10% of the property value. However, this is only an example and each sale is different.

Interested in buying a home? The C & W Group will be at your side.