|||| To be checked during the buying process:

Land registry property search (nota simple):
Using the registration details (Inscripción) from the Deeds (Escritura), your lawyer will arrange for a property search (Nota Simple) from the Land Registry (Registro de la Propiedad). This search will show the full history of the property, together with any mortgage charges, debts or any other encumbrances on the property. This document would normally be applied for, when you pay the deposit and again prior to completion.

Signing the title deeds (escritura de compraventa):
When you reach your completion date stipulated on your purchase contract you will be required to pay the balance of the money and sign the Title Deeds in front of the Public Notary. The Notary is an official witness to the sale and will ensure that each party has sufficient legal authority to buy or sell the property, he will also inform you of the actual situation of the property in respect of any debts, charges or encumbrances. This information is supplied to the Notary directly from the Land Registry. The charge made by the Notary will depend on the length of the Title Deed and the price declared.

Sale taxes:
After you have signed the Title Deed, you are required to pay taxes on the transfer of the ownership.
- 7% TRANSFER TAX (I.T.P.) payable by the buyer for the purchase of any Real Estate (villas, flats, land, commercial premises, and garages) provided the vendor is not a developer or normally trading in the business of resales.
- 8% (7% VAT and 1% STAMP DUTY) for any VILLA, TOWNHOUSE, APARTMENT or GARAGE annexed to an apartment where the vendor is a developer, promoter or habitual trader in these properties. This covers virtually all new construction and resales where, for example, one is purchasing from an investment company who purchased for resale.
- 17% (16% VAT and 1% STAMP DUTY) for PARCELS OF LAND, COMMERCIAL PREMISES, or COMMERCIAL GARAGE SPACES, where the vendor is a developer, promoter or habitual trader. This covers virtually all NEWLY URBANIZED LAND PARCELS and NEWLY BUILT COMMERCIAL PREMISES, and resales only where the vendor falls in one of the above categories.

Land registry:
Once your Deeds have been collected from the Notary and the taxes paid, they can be presented to the Land Registry (Registro de la Propiedad) for registration. This process could take up to forty working days depending on the workload of the Registry. Should you not have received your Deeds after three months, you should contact your lawyer in case of any problems.

At the end, your lawyer will provide you with a detailed summary of the expenses and present you with all the original documentation. All of these documents should be kept safely as they will be required in the future should you wish to sell.

Total of fees and taxes:
When purchasing a property in Spain you have to add plus minus 10% in total of the price on top for taxes, lawyer-, registration- and notary fees.

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