Can anyone tell me, how are Notary fees calculated on property completion??. After reading a thread from the Italian forum made me think?
Are there heavy charges when you get to the Notary that you are not pre warned about

Notary fees are set by the government, and are comprised of a fixed element, and a variable element that reflects the price of the property and the number of clauses in the deeds. They also charge a small fixed fee of around 30 Euros for every copy of the deeds (copia simple) requested by the buyer. This makes it difficult to say in advance exactly what the Notary’s fees will amount to. However to give you an approximate idea they range from 0.1% of the declared price of a property (for properties of 400,000 Euros or more) to around 0.4% (for properties of under 100,000 Euros). The Notary will also add on VAT at 16%.

If you use a mortgage then you will have to pay Notary fees on the mortgage deeds as well. Once again these will range between 0.1% of the value of the mortgage (for large mortgages over 400,000 Euros) and 0.4% (for small mortgages under 100,000 Euros)

http://www.propertywebsitespain.com/buying_process.php


Just make sure he does not walk out of the room with a bag of cash left under the table for the seller

Thanks posh very helpful as it was something I previously had not anticipated.All a learning curve am looking around at properties at the mo no commitment but asking lot of questions and I am taking in all information I can gather. I thought buy house taxes full stop.

Here another link. Just use them to pick out the bits that may help, I find that Spanish Lawyers tend only to ask the basic questions if you know a little before hand give him/her a list of anything that you want to know or put right before handing over any cash. Remember they work for you, Do not sit on your hands and be scared to ask, They are only doing a job but doing that job on your behalf so get stuck into them with your questions and inquiry's, Or pay for it later when its too late.At the bottom of the link it mentions wealth tax forget that, It will be abolished after this last tax year.


http://www.eyeonspain.com/spain-maga...ing-spain.aspx

Buy, read and inwardly digest one of the most recent editions of the several books that are available such as "Buying a Home in Spain", "You and the Law in Spain" etc then nothing like this should come as a surprise!

Generally (as a guide) if buying a property you should calculate around 10% of the property price to cover the costs of taxes and notary, it seldom comes out more than this and if it comes in under then happy days. So if you see a house on the market and you are going to pay 200,000 euros for it then you will need about 220,000 Euros...

What is the latest on the black money side of things, Does it still go on. I hear there is a problem with 500 euro notes.The bank alert the police/Tax office when a large amount go into private hands. There has also been some forged notes exchanged and when its been taken from the Notary it was found to be just forged notes in the envelope...Suma plastic bag.. What do you do run back in and say Mr Notary when you left us together in the room to go off and do some photo copying...Wink Wink... The bag of money handed under the desk was forged....Can I have my house back.....No ...Tax evasion Me....No No...Errrrrr Anyone got a house to rent.. I may be talking Boolucks but its food for thought what what.As they say....Buyer beware

Love you gang such a mine of informaton

More a case of seller beware I would say.
Apart from the forged notes job there is nothing to stop the buyer walking out of the door without leaving the pre-agreed bag of money,regardless of any cash hand-over arrangement, once the Notary has completed the paperwork, as happened in a case last year.
Great opportunities for scam artists to buy houses cheap, then turn them straight over at a handsome profit.