DIET INSPIRATION AND DANCE

Hello all,

I have purchased a bunglow at San Caytano and we coming over to complete next week... however the lawyers sent us a sort of statement of charges which suprised me.

I dont know how it worked when any of you purchased your properties, but when I purchased my property I was told by Medsea that all fees and charges are including in the purchase price with the exception of connection to electricity and water. I thought the 7% charge for IVA/VAT was an all inclusive charge incorporating everything but the connection to utilities.

However with this this new statment im being hit for charges which I did not expect, im wondering if all of you paid them, and are they correct?

I am being asked to pay for:

Stamp Duty 1% of purchase price
Notary Fees 600 Euro approx.
Land Registary Fees 350 Euros approx.
Solicitor fees 807 Euros

In addition the 300 Euro being charged by Taray for Electricity and water.

Is this what you paid when you completed the purchase?

Hi Hacienda-sc,

It is absolutely correct that these charges are additional - it is impossible for them to be included in the purchase price as they are paid on completion at the notary, with the 1% stamp duty paid to the tax man.  it is normal for developers to include the 7% IVA in the purchase price, as this is paid to the developer by way of a separate cheque for their tax liability.  It is however very naughty that the lawyer did not make you fully aware from the beginning the exact charges involved. As a rule of thumb, when purchasing in Spain WITHOUT a mortgage you should allow 10% on top of purchase price. If purchasing WITH a mortgage (outside of the developers) then allow 13% on top of purchase price.

 

    

 

We have just completed and as stated below it is all correct, usually allow 10% over "list" price on property, bad of your lawyer not to have mentioned.

Martin

Can anyone give us an idea of how much brokers fees should be? Any sort of guide would be helpful.

Thanks

Dorothy and Adrian

Hi Dorothy and Adrian,

Hope you do not mind my pm you,  We are The Mortgage Service Group based in Malaga province, but arrange mortgages throught Spain.  We only charge a flat fee of €300 euros.    It is usual for brokers to charge 1% of the mortgage amount and some will charge an admin fee on top!

Hope that helps,