{"id":15539,"date":"2021-11-17T11:06:37","date_gmt":"2021-11-17T10:06:37","guid":{"rendered":"https:\/\/blog.tmgrupoinmobiliario.com\/en\/?p=15539"},"modified":"2021-11-17T11:11:49","modified_gmt":"2021-11-17T10:11:49","slug":"expenses-when-buying-a-property-in-spain","status":"publish","type":"post","link":"https:\/\/blog.tmgrupoinmobiliario.com\/en\/2021\/11\/17\/expenses-when-buying-a-property-in-spain\/","title":{"rendered":"Expenses when buying a property in Spain"},"content":{"rendered":"<p>&nbsp;<\/p>\n<p>A few months ago on our blog we talked about the <a href=\"https:\/\/www.tmgrupoinmobiliario.com\/blog\/en\/2021\/06\/25\/what-taxes-have-to-be-paid-by-non-resident-ex-pats-buying-a-property-in-spain\/\">taxes that a non-resident foreigner buying a property in Spain must pay<\/a>, but what expenses must be paid when buying a property? Are they expensive? Will the new owner bear these expenses? We address all your questions below:<\/p>\n<p>&nbsp;<\/p>\n<p><strong><span style=\"color: #ff0000\">Land Registry<\/span><\/strong><\/p>\n<p>First of all, you must bear in mind that once you sign the deed it will be recommended that you register the sale in the Land Registry. The <strong>cost of this procedure depends on the price of the property<\/strong>. It usually ranges between \u20ac400 and \u20ac650.<\/p>\n<p>&nbsp;<\/p>\n<p><strong>Who makes the payment:<\/strong> If there is a mortgage, the bank pays this expense.<\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"color: #ff0000\"><strong>Bank charges<\/strong><\/span><\/p>\n<p>When carrying out the operation from abroad, transaction costs may arise, especially if a currency other than the euro is used. If you have any doubts regarding this matter, you can seek the help of a currency exchange specialist to reduce these costs.<\/p>\n<p>You should also bear in mind that the bank charges a fee for issuing the bank transfer. It is recommended that you make a prior consultation.<\/p>\n<p><strong>Who makes the payment: <\/strong>bank charges must be borne by the property buyer.<\/p>\n<p>&nbsp;<\/p>\n<p><strong><span style=\"color: #ff0000\">Notary fees<\/span><\/strong><\/p>\n<p>In the process of drafting and signing the property deed, the Notary is very important in order to ensure that the procedure is carried out correctly. The prices of this task are calculated based on the price of the property and the complexity of the drafting of the deed, the number of copies that are required or its length.<\/p>\n<p><strong>Who pays:<\/strong> If there is a mortgage, the bank pays this expense.<\/p>\n<p><strong>\u00a0<\/strong><\/p>\n<p><strong><span style=\"color: #ff0000\">Mortgage expenses<\/span><\/strong><\/p>\n<p>If you apply for a loan at a bank, it is likely that you will have to pay an arrangement fee. This amount is subtracted from the loan and varies between 0.25% and 3%. Not all banks charge this fee, and if they do, you can negotiate it.<\/p>\n<p>Another cost associated with the mortgage is the appraisal, which, depending on who carries out the appraisal and the value placed on the property, can cost between \u20ac250 and \u20ac800. Please note that the appraisal will be valid for 6 months.<\/p>\n<p>The final expense associated with the mortgage is usually life and home insurance, which is also deducted from the mortgage amount.<\/p>\n<p><strong>Who pays: <\/strong>these expenses are borne by the buyer.<\/p>\n<p>&nbsp;<\/p>\n<p><strong><span style=\"color: #ff0000\">Legal services<\/span><\/strong><\/p>\n<p>If you have any doubts regarding specifics of the process, the best thing to do is to seek the help of a specialised lawyer. They can carry out procedures on your behalf, go to the Notary&#8217;s office&#8230; A lawyer can give you the peace of mind you need during a process like this.<\/p>\n<p><strong>Who pays: <\/strong>this expense is borne by the buyer.<\/p>\n<p>&nbsp;<\/p>\n<p>That&#8217;s it! Please remember that if you have any queries regarding the purchase of your new TM home, you can contact us.<\/p>\n<p>&nbsp;<\/p>\n<p><strong>\u00a0<\/strong><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp; A few months ago on our blog we talked about the taxes that a non-resident foreigner buying a property in Spain must pay, but what expenses must be paid when buying a property? Are they expensive? Will the new owner bear these expenses? We address all your questions below: &nbsp; Land Registry First of [&hellip;]<\/p>\n","protected":false},"author":11710,"featured_media":15540,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[463],"tags":[],"class_list":["post-15539","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tu-nueva-casa","formato-comunicacion"],"better_featured_image":{"id":15540,"alt_text":"","caption":"","description":"","media_type":"image","media_details":{"width":1000,"height":666,"file":"2021\/11\/1000x666-2.jpg","sizes":{"medium":{"file":"1000x666-2-300x200.jpg","width":300,"height":200,"mime-type":"image\/jpeg","source_url":"https:\/\/blog.tmgrupoinmobiliario.com\/en\/wp-content\/uploads\/sites\/2\/2021\/11\/1000x666-2-300x200.jpg"},"thumbnail":{"file":"1000x666-2-150x150.jpg","width":150,"height":150,"mime-type":"image\/jpeg","source_url":"https:\/\/blog.tmgrupoinmobiliario.com\/en\/wp-content\/uploads\/sites\/2\/2021\/11\/1000x666-2-150x150.jpg"},"medium_large":{"file":"1000x666-2-768x511.jpg","width":768,"height":511,"mime-type":"image\/jpeg","source_url":"https:\/\/blog.tmgrupoinmobiliario.com\/en\/wp-content\/uploads\/sites\/2\/2021\/11\/1000x666-2-768x511.jpg"}},"image_meta":{"aperture":"0","credit":"","camera":"","caption":"","created_timestamp":"0","copyright":"","focal_length":"0","iso":"0","shutter_speed":"0","title":"","orientation":"1","keywords":[]}},"post":15539,"source_url":"https:\/\/blog.tmgrupoinmobiliario.com\/en\/wp-content\/uploads\/sites\/2\/2021\/11\/1000x666-2.jpg"},"acf":{"imagen_destacada_desktop":false,"imagen_destacada_mobile":false,"formato":{"term_id":462,"name":"Comunicaci\u00f3n","slug":"comunicacion","term_group":0,"term_taxonomy_id":462,"taxonomy":"formato","description":"","parent":0,"count":189,"filter":"raw"},"entradilla":"","etiquetas":"","cabecera_escritorio":"https:\/\/blog.tmgrupoinmobiliario.com\/en\/wp-content\/uploads\/sites\/2\/2021\/11\/1200x300-2.jpg","cabecera_mobile":"https:\/\/blog.tmgrupoinmobiliario.com\/en\/wp-content\/uploads\/sites\/2\/2021\/11\/768x768-2.jpg","galeria":false},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.6 (Yoast SEO v27.6) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Expenses when buying a property in Spain<\/title>\n<meta name=\"description\" content=\"What expenses must be paid when buying a property? 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