Taking into consideration that the property expenses in Spain are different from your own country, it is evident that as a client and prospective buyer of a home, second residence or investment in Alicante or other areas like Torrevieja or the Costa Blanca in general, you have diverse questions about how much will it cost to purchase in Spain. In CC Lawyers we feel your curiosity and provide with the information that you are looking for. Nevertheless, if you have any more doubts about the expenses, please reach out to us.
What property expenses will I have when buying in Spain, Alicante or Torrevieja?
The transfer duty changes from community to community and for example the % applicable in the Region of Murcia for example will be the 8%.
Utility Contract payments.
Since this is an important matter, it is crucial that you have all of these costs in mind when acquiring a house in Spain. For an extensive view of the expenses, we have added all costs involving notary and lawyer’s charges, as well as other official entities involved in the process.
Upon becoming the new real estate owner, you will need to settle the IBI contribution (property toll) and the garbage collection tariff (an annual payment). The IBI Impost must be paid by the asset owner from January 1st of the year. For example, if you purchase an estate on December 29th, you will need to cover the IBI assessment for the upcoming year. However, if your purchase takes place on January 15th, the former owner is responsible for the IBI for that year, and you will commence payment the following year. It is now customary for sellers and buyers to split the impost based on the number of days each party own the asset after a precedent set by a Judgment of the Supreme Court.
What financial responsibilities arise when selling a land in Spain?
In CC Lawyers we understand that all of this is new information for you. Therefore, we encourage you to reach to us for any further information or clarification. You can contact us by filling up the form online, through email or by call. We will accompany you through the whole process and always look for your own good.
Please contact us if you have any legal matter that needs to be checked by a Lawyer in Alicante.