What costs are involved in purchasing a distressed property?
When buying a property in Spain there are a number of taxes and fees applied to the purchase which must be taken in to account and planned for financially in order to avoid any problems. As a general rule of thumb, allow for 10% of the purchase price of property in Spain to cover the various taxes and legal fees. These taxes and fees are paid at the time of completion and signing of the deeds at the notary. A full and detailed buying guide is available and not only recommended, but in our opinion paramount in your decision making process. Question: Is an Inspection of the property necessary before I purchase? We strongly recommend that you take advantage of the Inspection Visits organised by our company prior to purchasing a property. Given that the interest and demand in distressed, repossessed and discounted properties is very strong, it is wise to pay a refundable deposit to secure the property so that upon arrival it is still available. We will then organise a pleasurable itinerary
