By purchasing a property
Wherever you are in the world, when you buy a property you need to exercise a certain amount of care. That is why we work with a multi-lingual solicitor who will check the documents for you before the conclusion of the purchase and, if necessary, will revise them appropriately in order to achieve a secure purchase.
When purchasing a real estate certain formalities need to be carried out so the transfer of ownership can be arranged without delay. At this we assist you with our experience and knowledge.
Once you have decided to buy an object it is common practise to sign a preliminary contract (promise to sell contract) with the seller. We negotiate this contract individually according to your wishes. In most cases this contract is sealed by making a down payment of at least 10 %. Within the following 90 days an appointment with a notary will be fixed. On that day you need to settle the outstanding payment.
What acquisition costs are you facing?
1. Tax on purchase of real estate 6,5% of the sales price (payable to the notary)
2. Agent’s commission 3% (plus IGIC,Canary GST (value added tax)) of the sales price (2% when paying the commission, 1% with the notary), nevertheless at least 1.800,- Euro (plus IGIC)
3. Fees for entry in the owner’s registry4. Fees for change in the land registry office5. Notarial fee
Fees are between 10 – 11 % of the real estate’s purchase price.