Hi, I read on your site somewhere about expenses ‘according to law’, and the 80% – 20% spilt between the seller and the buyer, but what you don’t explain is exactly which expenses they are? Is it just the notary costs or more? Also, does it mean the buyer pays 20% of the plus valia too? Could you please explain what “expenses arising from the public deed, ‘by law'” actually covers, when a buyer requests this? ie. which expenses and taxes this includes?
Nigel, I’ve never seen an article here that refers to the expense split you mention, and a full search of the site hasn’t turned up any reference to a split of expenses according to the law, or “expenses arising from the public deed, ‘by law’”. I can only think you must have read about this at another website, unless you can show me a link to where you read this?
There are a bunch of expenses related to buying and selling property in Spain, such as notary fees, registry fees, and taxes, but to the best of my knowledge the law is pretty clear which side pays which cost, though both sides can always agree to a different payment structure.
The general agreement in Spain is that all expenses are paid by the buyer, except for Plus Valía tax.
Expenses “according to law” means that you want article 1.455 Civil Code to apply. This means that almost all the notary expenses are paid by the vendor instead of payed by the buyer. The rest of the expenses don’t change.
You must be logged in to reply to this topic.