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Frequently Asked Questions These are the questions we get asked most frequently about buying property in Spain and about the service we provide. How do you provide your service free of charge? How do you provide your service free of charge? We get our income from the sales commission included, by the vendor,
in the purchase price of every property. This is the equivalent
of estate agents charges here in the UK. You will typically be asked to put down a non-returnable deposit of €3,000 at the point when you decide to buy. This may be less, for instance if you buy a resale property the amount can sometimes be negotiated with the vendor (seller). The price you pay for the property is then fixed from this point forward. If you are buying a new property you will almost certainly be buying 'off plan'. This means that you will probably see a show home but your actual property will not have been built when you place your deposit. In these circumstances you should expect to have to pay 50% of the purchase price, usually sometime during the following two months. The balance will then become due on completion. There are variations on this theme but this is a reasonable guide. If you are buying a resale property, in addition to the initial
deposit you will be expected to pay 10% of the purchase price at
the point where contracts are signed and exchanged. The balance
then becomes payable on completion. How much will I pay in taxes and other costs on top of the price of the property? This will depend upon whether you are buying a new or resale property as different taxes apply to both. The breakdown is as follows:
As you can see the total above is 10%. This is why we work backwards from your overall budget and allow for 10% to 12% of the purchase price to cover these costs. Eurosettlers Limited, The Laithe, Middop, Clitheroe, Lancs BB7 4JR T: 01200 445045 F: 01200 445845 E : enquiries@eurosettlers.com |
