How much does a purchase in Spain cost without assistance?
Are you looking to buy a house or an apartment in Spain? Getting the keys to your future property without the assistance of an agency is possible. However, we wanted to present to you in a realistic way the extent of the mission that awaits you.
Inevitable Costs
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3 Round Trips
for 2 people (2 trips for property visits and 1 trip for signing at the notary’s office).
$3000
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Hotel Accommodation for 6 nights.
Average cost per night: 70€
$420
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6 Days of Paid Leave.
Necessary for property visits which rarely occur on Saturdays and Sundays.
$600
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Lawyer’s Fee.
For document verification.
$2000
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Translator
Mandatory for the authentic act signing at the notary’s office.
$300
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Lengthy Searches on Real Estate Portals.
Required to find good opportunities and to somewhat understand the Spanish real estate market.
Time required: 30 hours
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NIE Application Procedure.
The process can be lengthy and complex if you are not familiar with the language.
Time required: 5 hours
Frequent and Costly Risks
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Crucial Misunderstandings.
Risks related to language barriers, contracts, and legal documents.
Risks include:
- New construction nearby
- Non-buildable land
- Hidden defects
- High condominium fees
- Problematic neighborhood
- Inability to ask questions about the property due to language barrier
Compromised Project
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Unverified Debts.
Regarding various taxes after the purchase.
$7000 (average)
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Signature Postponement.
Non-obtaining of NIE can delay the notary’s signing.
Potential costs: 10% of property price
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Legalization.
Let’s take the example of an individual house: The legalization of a pool or another structure that was not previously legalized.
$10 000 (average)
Costly Disadvantages
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Inability to Negotiate Effectively
If you don’t speak Spanish and lack in-depth knowledge of the real estate market, it becomes almost impossible to negotiate the selling price of the property.
No possibility of price reduction
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Loss of Objectivity
Real estate agencies have properties to sell; they also work for sellers and therefore have an interest in selling their stock. They receive commissions from sellers. A real estate hunter (without a portfolio of properties) searches in all agencies, across the entire territory, and works only in your interest.
“Influenced” Business Relationship
SpainEasy’s Accompaniment
Our real estate agency in Spain accompanies english-speaking individuals eager to acquire a property in Spain. Our team searches, finds, and secures your dream residence by assisting you with all administrative procedures.