[Anonymous]

Hi can anyone advise me how much we should allow for final completion on a property we had budgeted on the basis of notary fee/stamp duty and land registry we have just had an e-mail from our lawyer saying that we will have to pay all of these plus fees for each on the mortgage deed

thanks

[Anonymous]

If you go to marbella-lawyers.com there is a cost calculator on the website.

[Anonymous]

Hi Keith,

We completed a week ago and were unpleasantly suprised by the additional costs of the mortgage taxes etc. Ask for a full breakdown from the bank or you may find you have insufficient accessible funds to complete as we almost did!

[Anonymous]

You need not be ready for any surprises at the notary.

You must be aware in advance of who will receive exactly what and how. Unless you have a detailed breakdown you will find it very difficult to understand and control what is happening as the deeds, cheques, and cash move backwards and forwards across the table.

Insist on getting a detailed breakdown from your lawyer, agent, gestor or bank. The visit to the notary should be a mere formality and not the moment when any money decisions are made. All of these decisions should have been made in advance.

[mariadecastro]

Yes, I agree with Rawlins that you need to sit with your solicitor and have a reckoning. Taxes, Notary and Registry fees ( these two last ones can have a slight variation that just depends on Notary and Registrar).

I would also encourage you to use any calculator you may find so you can have an appraisal in your mind too, by yourself.

Best,

maria

[Anonymous]

Hi I was very relieved to read in an earlier discussion on the forum that when taking over a developer’s mortgage you are not required to pay stamp duty. We are doing this but have asked for a bit more on top to help pay for fees etc. We have been informed that we will now have to pay stamp duty as a mortgage modification deed will now be required. If so what sort of % will this be ?

[Anonymous]

Hi,

Haven’t got a mortgage on our house so might be a bit different to you but we were told to expect to pay 10% of the purchase price on top for taxes etc. We were surprised to find that this was nearer 7% when we actually paid up.

I think the amount differs greatly, not only from provinvce to province but from one concejo to the next.

Heather

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