Costs incurred if undertake straight swap from one apartment to another

This topic contains 4 replies, has 3 voices, and was last updated by  fpegman 4 hours, 25 minutes ago.

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  • #217709

    jackd
    Participant

    Hi, if I undertook a straight swap from my modernised apartment with car parking space and storage unit (3 properties?) for a larger but, dated apartment. Would I just have to pay notary fees for change of ownership? Would there be other taxes, costS? Thanks for your time.

  • #217711

    freddo
    Participant

    You would have to pay Transfer tax on the property

  • #217712

    jackd
    Participant

    Many thanks indeed. Do you know what rate if the value is considered the same?

  • #217714

    jackd
    Participant

    just for information,I would value both properties at 75,000 euros in Torrevieja outskirts area. Thanks for any advice. Trying to sell my property and then buying through the normal procedure not only is time consuming but, also the taxes and costs incurred almost doubles the difference in costs over the value of the other property and potentially makes the option not viable. Just trying to save costs if possible? Thanks in advance for any advice.

  • #218114

    fpegman
    Participant

    Transfer Tax

    Valencian Community: Raised from 8% to 10% in August 2013 with lower rates for certain resident groups like young buyers, disabled buyers, or buyers with large families
    You would still have to pay Notary fees ans legal fees if using a solicitor but is you speak and understand Spanish you can do it your self I would not advise this

    • This reply was modified 4 hours, 24 minutes ago by  fpegman.

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