• Spanish realtors have no insurance agreement or client account where the buyer is secured by their own paid funds.
• Spanish lawyers have an insurance agreement, but it is very difficult to get paid funds from this if something goes wrong.
• Neither Spanish realtors or lawyers usually accept money, but do not have client accounts and understand the term.
• Spanish realtors have no insurance agreement or client account where the buyer is secured by their own paid funds.
• Spanish lawyers have an insurance agreement, but it is very difficult to get paid funds from this if something goes wrong.
• Neither Spanish realtors or lawyers usually accept money, but do not have client accounts and understand the term.

Our consulting includes:

• Gains on sale of property owned by Norwegians in Spain taxed in both countries
• In Spain non-residents pay 19% of the gains on the first € 6.000 + 21% of surplus
• When renting out pay 24%, but there are more deductions and effective bets are lower
• If there is no income on the property, benefit taxation, basis 2% of tax value + on that 24%
• 0% capital tax in Spain
• In other countries capital tax might be of everything one owns, including property in Spain. Of the net worth, free allowance of 47,000, 1,1% of surplus
• Surplus/deficit from rental is deducted with your countrys tax returns
• Property tax, based on tax value 0,5 – 1,1”
• Purchase of new property: IGIC 5% on Canary Islands (7%) mainland 0 doc fee 0,5 – 1%
• Purchase of used property: ITP 7% + doc. fee, ca € 1.500

Specially at Lex Spain:

Our office tries to avoid reservation contracts, often common, from € 1,200 – 3,000, which is lost when buyer pulls our “without just cause”. Often the paper process is long and bureaucratic.

Following documentation must be collected:

• Who is the owner (Registro de Propriedad)?
• Encumbrance (nota simple).
• Paid property tax (IBI).
• Paid income tax.
• Statute for condominium.
• Paid shared costs.
• Paid electricity and water.
• Newly built: building permission and move-in license.
• Statutory: developer has bank guarantee for paid amount.

Sometimes private purchase contracts are written, other times it goes straight to the notary.

Purchase contract includes:

• Name and address of buyer and seller.
• Exact description of property.
• Without encumbrances, or which mortgages follow.
• Responsibility for fees of deleting debt.
• How the purchase sum should be paid.
• Responsibility of fees during transfer.
• Time of acquisition and signing of deed (escritura) at notary.