[onesolution]

Hi have you like me thought of buying a place in spain only to be put of with 20% deposit and 13% tax etc. That means you need £40,000 to buy a place in spain. I have discovered how you can buy with no deposit just like in England with all the fees added - anyone interested

[riptony]

do you charge for this advice or are just going to tell us?

[donkey]

13% tax? It's 7%, and whether or not you pay a deposit depends entirely on the owner.

[SHsheff]

Originally Posted by riptony

do you charge for this advice or are just going to tell us?

I'm sure he/she is going to give us the inside track

[Lemony]

Hi there! I don't know how it works if you buy from the UK, but in Spain things aren't as mad as here re:agencies and go-betweens. A lot of properties are sold through agencies, but lots of people also sell directly (look at local papers and notices in doors, windows and local shops of your desired area). TAX: one pays a percentage (can't remember how much but can find out) of the value of the property when the contracts (which is when the property is definitively yours) are drawn and signed by the solicitor.

Both parties go to a special solicitor called "Notario" to do the contracts on their behalf, so no need to double costs up. Also, the deposit is binding. So if you pay a deposit and get a receipt, if the buyer backs down the vendor keeps the money. If the vendor pulls out, the buyer is entitled to twice the amount of his deposit.

Make sure you check the land registry or "Registro de la propriedad" and take someone with you who knows Spanish well. Ah! and haggling a little is normal too.

Good luck with your purchases...

[nick2]

Originally Posted by onesolution

Hi have you like me thought of buying a place in spain only to be put of with 20% deposit and 13% tax etc. That means you need £40,000 to buy a place in spain. I have discovered how you can buy with no deposit just like in England with all the fees added - anyone interested

Are you Jack Nicklaus in disguise ?

[crookesey]

Originally Posted by donkey

13% tax? It's 7%, and whether or not you pay a deposit depends entirely on the owner.

I think that the 20% applies to an 80% mortgage, if someone knows something that we don't and is willing to tell then I'm willing to listen.

My wife and I have looked at property purchase in Spain only to come to the conclusion that a £200,000 property can be rented for around £450.00 per month between October and the end of March subject to a minimum let of 4 weeks. The only extra cost is electricity, some are equiped with sky boxes so you simply take your own card.

£200,000 invested will give around £10,000 gross interest so even if you went for the full 5 months you would be well in pocket and still have your £200,000. And remember, no maintainence, rates, repairs etc and if you tire of it you don't rent it again.

A no brainer isn't it.