Ball Park Figure
 

Me again
Yes I know we said we would rent first and we will. But on the buying front. We have been reading the forum and on the buying front.
If we seen something for sale say 100k for the sake of the argument.
I know its hard but with negotiations and all fees what would you guess would be the final cost for us.
Second question as a cash buyer how long would the hole process take from viewing to getting keys

Re: Ball Park Figure
 

Allow around 13% for fees etc. When we purchased it took 4-5 weeks from having our offer accepted.

Buying and selling costs are expensive so you need to be as sure as you can be that you have bought the right price for you.
You should look ahead and ask yourselves whether the property will suit you as you get older. eg proximity of shops, transport, walkability and the like.

Re: Ball Park Figure
 

It depends where you are buying and who you are buying from. In Alicante province the sales tax is 10% of the purchase price and you can add between 3% & 5% for legal fees, NIEs, bank charges, survey etc. It's a bit cheaper if your purchasing fully legal property on an urbanisation as opposed to a country property on rustic land.

If you are buying from a Brit you can usually negotiate a lower price, depending on circumstances. The Spanish are less likely to give a discount. We've noticed that the prices are starting to creep up, along with the number of sales, in our area. Having said that, I would rent first to confirm that the area you are looking at is right for you. It would cost an extra 20% to buy & sell if you get it wrong.

Good luck

Re: Ball Park Figure
 

At that price level think an extra 15K in expenses.

Re: Ball Park Figure
 

You could also argue that if a place is on sale for €100k, it would be likely that you could buy it for 10% less - the same as the cost of legals and taxes. As a general rule, try thinking that the price you see in the agent's ad ought to be the price you end up paying all in.

Re: Ball Park Figure
 

True. I suppose the simple and safe rule is to add 15% to whatever you finally purchase it for? Please also do not forget that some property purchases later generate a 'bump' from the Taxman if HE doesn't think you paid enough, having regard to the cadastral calculation they use. That's why the old 'black money' under declaring trick means the purchaser is only then fooling themselves short term!
I think 15% on top of your purchase price will do it.