Calculating the costs of buying and selling a property in Spain
Many clients do not know the costs associated with the buying-selling process. Granatte Real Estate in Granada informs and calculates the associated expenses. Our goal is to be fully transparent with our clients.
Calculating the costs of buying a property in Granada
In your budget to buy your home, you must go all-inclusive, so you do not take surprises.
To buy a home, for example, you must take into account not only the amount of housing itself. You must count, as a general rule, with 8% to pay the Tax of Patrimonial Transmissions to the Junta de Andalucía. However, if the home is first-hand, you will have to pay the VAT at 10%. No doubt that is the biggest amount you will have to attend.
You must also pay, if according to Law, around 30% of the value of Scriptures and the Property Registry. We are talking about 800 € for a housing type of 250,000 €.
If you need a mortgage then you must pay the Tax of Documented Legal Acts. It will be approximately 1.8% of the loan. Plus the Scriptures and Property Register for a mortgage of about 200,000 €; Which can be around € 1,500. At the moment it seems that the banks begin to share those expenses, but they do not exceed 30%.
Do not forget the costs of reform if needed. We oversimplify, we can talk about 200 € / m2 on basic reform, 500 € / m2 in strong reform and 1,000 € / m2 luxury case or structural reform.
And if I sell my house, what selling expenses do I have?
If you are the seller, then we must begin by verifying the legal status of the home.
It happens that in many cases a family has inherited a house from a relative and they want to sell, without knowing that first it is necessary to make the Scriptures of Adjudication of heirs.
You must also have the Certificate of Energy Efficiency, which we do. Have paid the Community of Owners or irrigators. The Real Estate Tax paid and we calculate through the City Council the amount of Taxes on the Increase of Urban Nature Assets (surplus value)
The costs of Notary and Property Registry and the mortgage cancellation and associated registration (if applicable).
Every case is a world.
Although we could say statistically that the purchase costs as a general rule are around 4.5% of the sales amount.
We move for you in Ayuntamiento, Junta de Andalucía, Delegation of Finance, Civil Registry, Notary, Property Registry … we study and solve the testaments and inheritances …
Fill out the form and we will contact you, to calculate your expenses.