Notary costs in Spain

Hi

I have invested into a simple bungalow in Torrevieja. The agent's solicitor estimated notary costs to be ca EURO 900 (with the margin in my view). Suddenly comes the message that notary got by bank transfer EURO 4 500 and would not disclose specification! I have read that notary cost is set up by the state and is 0.4% for the property below EURO 100K plus 16% VAT. Registry chamber takes 0.3% plus same VAT. If this info outdated?

Hi,

Have you also included Land Registry (Catastral Office in Spain) in your figures?

Regards,

SD

Dear Muroms:

It seems an excessive charge for Notary fees to me and of course, they are subject to specification and you can claim on any excess.

You have a calculator here ( in Spanish though): https://www.ocu.org/inversiones/aspx/calculators/notary/?5

In 2010 , the  Spanish Government  included a reduction of 5% on fees charged by notaries and Property registrars in relation to documents where value is expressed such as deeds of house purchase.

This has been made in the recent decree of extraordinary measures to reduce the deficit.

This was the scale till then:

Until       6,010.12--------------------------------------------------90.15 euros

Between  6,010.13 and 30050.60 euros-------------------------- 4.5 per 1,000

Between 30,050.61 and 60,101.21 euro------------------------- 1.50 per 1,000

Between 60,101.22 and 150,253.03euros-------------------------- 1 per 1,000

Between 150,253.04 and 601,012.10 euros----------------------- 0.5 per 1,000.

Between 601,012.11  and 6,010,121.04 euros-------------------- 0.3 per 1,000

From 6,010,121.05: the amount that may be freely agreed by the parties.