Hi,
I have recently heard a few horror stories about people who have paid property transfer taxes on a place, only to be hit with astronomical tax demands a few months/years down the line. The reason for this being that the property market has pretty much collapsed since the original valuations (valor catastral) were made.
I personally know of a couple of people this has happened to, but not regarding huge amounts of money (1-2,000 euros), but I've read about people losing much more.
I'm currently to buy a place in Sevilla which had its valor catastral made in 2001, which was then valued at around E30,000 more than the current asking price! So I suspect that I might have some problems later down the line if I do go through with the purchase. Has anyone bought something in Sevilla over the last year or two who can share their experiences?