Prior to your purchase with Club Class Estates, our team will explain in detail all the relevant fees and taxes payable on your property purchase.
Club Class Estates will introduce you to our in-house professional multi-lingual team of lawyers. They will be in a position to conduct a full search on the property for your protection, to make sure that there are no claims and also to advise you fully on the procedures you will need to follow.
As a rough guide Club Class Estates advises all buyers to allow a further 10% on the purchase price. This is broken down as follows:

• 7% will be calculated for IVA (Spanish tax)
• 1% will be calculated for the Lawyer's fees
• 1% Stamp duty
• 1% Registration and Notary fees

Paying the reservation deposit of usually 6000 Euros plus tax (approximately 6420 Euros) holds the property for you for a fixed period usually 30 days. Next step, our lawyers will then be in a position to draw up a private purchase contract and a payment towards the property of usually 20% to 30%. This secures the purchase of your property.

THE PURCHASE OF THE PROPERTY WILL INVOLVE THE FOLLOWING EXPENSES IN MORE DETAIL.
Every buyer will be obliged to pay notary fees, the charge is according to a fixed scale. Charges range from 340 Euros for a property price of 120,000 and approx 600 Euros for a property worth over 500,000 Euros.

TAXES.
If you are buying a re-sale property you are obliged to pay transfer tax (ITP) of 7%
however, if you are buying a new property which is under construction from a promoter or a developer, then you are only required to pay 7% on the deposit plus stamp duty at 1%.

Expert Advice on Mortgages and Home Loans.
Club Class Estates pride themselves in offering a complete service to their clients. If you need to raise Finance for any property or even Land purchase, either in the U.K or Worldwide, we are able to help you. Property purchase and investment can be a complex process, and for most of us buying property Overseas, could be one of the largest financial transactions we ever get involved in. Therefore there is no question that you need to surround yourself with the best possible team of overseas property and finance professionals at every stage.

Our recommended partner for all Financial issues have a strong track -record in helping our clients through the mortgage jungle , and give the very best advice and offers.

BOMC British Overseas Mortgage Company, www.bomc.co.uk , and their sister company, HMC - Funding www.hmc-funding.co.uk are well equipped to assist in all areas of Finance. Just click on either of the above to get more information .