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
3 Round Trips
for 2 people (2 trips for property visits and 1 trip for signing at the notary’s office).
$3000
Hotel Accommodation for 6 nights.
Average cost per night: 70€
$420
6 Days of Paid Leave.
Necessary for property visits which rarely occur on Saturdays and Sundays.
$600
Lawyer’s Fee.
For document verification.
$2000
Translator
Mandatory for the authentic act signing at the notary’s office.
$300
Lengthy Searches on Real Estate Portals.
Required to find good opportunities and to somewhat understand the Spanish real estate market.
Time required: 30 hours
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
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
Unverified Debts.
Regarding various taxes after the purchase.
$7000 (average)
Signature Postponement.
Non-obtaining of NIE can delay the notary’s signing.
Potential costs: 10% of property price
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
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
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.
