01 Apr 2024 11:12 AM:

1. The builder or promoter

2. There was no leeway on price when we bought but that was in 2007

3. Use an independent solicitor. Many stories of property being builty on illegal land, debts and utilities not paid etc. An independent solicitor woul be necessary to check all these things out. 

4. Ours was 1% of the cost.

 

Thread: Buying an off-plan apartment

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24 Mar 2024 8:51 PM:

As a non resident they would have kept 3% of the selling price to pay for outstanding taxes such as capital gains.

If the small sum you received back was from the tax authorities then I assume the rest was kept for those taxes.

You may not have made a gain on the price but they can also get you for the gain on the price of the land called the plus valia tax. Perhaps the money you gave the solicitors went to pay for that.

It is also difficult to get money back from the tax people if you have changed or closed bank accounts since selling. They will make the payment to the account they have listed for you but, if not accepted, they will not try again.

Bit awkward if the solicitors won't reply to you, though.

Thread: Sold a Property now where's our money?

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18 Feb 2024 10:35 AM:

The reason your costs are less is because Andalusia has a 7% ITP as opposed to 10% in other regions. So adding 3% to your 7% is 10% whereas others have to add 3% to their 10%.

 

Thread: Does anyone regret their holiday home purchase?

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05 Feb 2024 5:12 PM:

A couple of things. The SUMA and property tax is the same thing. SUMA is the name of the agency that collects the tax which is about the same as UK council tax as it goes to the council.

No, the property value is not the actual value of the house but the rateable or Cadastral value listed on your bill. Often very much less than the actual value. The cadastral value on my property at just over 200k is only 48k which is what the IBI is based on.

I would suggest you add 14% costs to the price of the property in that price range. 

Communal fees will depend on what is available where you buy. Swimming pools, gardens, street lighting, lifts, tennis courts etc. I know one community that pays just 180 euro a year and another with almost a thousand. Ours, with 5 pools, extensive gardens. electronic gates but no lifts or tennis court, comes to 60 euro month. It also depends on the size of your property and outside area. The 2 bed apartments on our complex only pay 32 euro a month.

There is a also a bin collection tax on top of the council tax currently around 80 euro a year but going up next year by over 10% and possibly 20. 

We pay a solicitor 183 a year to handle all our legal details and covers everything including tax returns both income and assets declarations (you won't have to do the asset one as a non resident).

Don't buy as an investment. Many properties are only worth the same as they were 10 years. If they go up then they go up very slowly. 

Mould is caused mainly by a lack of airflow. If you have a good airflow mould is not such a problem. Just remember to leave internal doors and wardrobes open when you are not there. Also a good dehumidifier (which comes with aircon) or simply a tray of salt in each room to suck up the moisture.

Yes, renting is a pain as you need a licence and many places are over subscribed so they aren't issuing any further ones. If the place you buy already has a licence then you can continue with it. But be aware there are very many properties to rent so the competition is very strong. 

Then there are electricity and water standing charges. Electricity depends on how much power you are contracted for but will probably cost around 16 to 20 euro a month for an apartment on a low power contract. Water would be around 12 to 15 euro a month even if no water is used.

You annual running costs, including house insurance, will be far below the 2500 you mentioned especially as the council tax, based on cadastral value, will only be about 250 euro a year but councils vary.

Good luck on finding a place that suits you.

 

Thread: Does anyone regret their holiday home purchase?

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21 Dec 2023 9:18 PM:

The tax applies to everyone regardless of residency or whether EU or non EU. 

Like Valencia, this is a Spanish law so can't actually be abolished but giving a 99% tax free allowance means you won't pay anything but it only applies to groups 1 and 2 and other groups can get a 50% allowance. 

Murcia introduced this from 2018 but only for Groups 1 and 2 so I'm assuming you are saying they have just included groups 3 and 4 as well.

 

Thread: September 2023 NEW Inheritance tax law

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