The notary’s fees are almost always paid by the buyer, and are calculated according to the number of pages that the deed contains, the value of the property, and the number of documents attached to the deed. For this type of expenditure, it is difficult to provide exact numbers, as the fees of the notaries vary depending on the area.
As a general idea to contextualise the fees you may encounter, we have estimated that if the purchase of a house is €200,000, the fee would usually be around €65, and for the purchase of a €400,000 property, the fees would be around €1,100.
- Spanish Land Registry Office
Registering a property in the Land Registry is not compulsory in Spain. Nevertheless, the inscription in the Registry is the main means of legal protection for the holder of the property. With this act, the property will be registered legally in the name of the buyers. These services do not have a fixed cost established, but they are expenses that the buyer must take care of. For a general idea, if the purchase of a house is €200,000 the fees are usually around €420, and for purchase of a €400,000 property, the fees are around €600.
We recommend that you contact both a lawyer and a tax advisor so that together they can advise you and carry out all of the necessary steps involved in a property purchase. These include Conveyancing or Due Diligence of the property, the processing of your NIE (National Identification Number), and representing you before the notary and in public identities. You can find out more about these crucial steps in our Property Conveyancing page with important information that may interest you.
Fees depend on the area and the complexity of the matter; many lawyers charge 1% on the purchase price plus VAT, whereas the Tejada Solicitors team assesses its fees based on the workload and complexity of the sale. We do not set a fixed percentage, but rather choose the best option for legal advice that offers a reasonable price and a quality service. You can contact us and get more information.
If you are going to buy a house in Spain with a mortgage, we advise you to contact the bank before the purchase so that they can calculate all of the costs related to the mortgage. The bank will then inform you about the guarantees and necessary requirements for the concession. Each banking organization has its own norms and requirements.
To make the purchase, it will be required of you to open a bank account in Spain, where you will need to transfer your money from your home country to Spain. This money transfer involves an international transfer cost, especially if it is a currency other than euros. In these cases, to reduce banking costs, we recommend contacting a broker specializing in foreign exchange.
Interesting read: Cost of selling a house in Spain