summary of costs

6% transfer registration tax

This tax is called Impuesto de Transmisiones Patrimoniales in Spanish. It is 6% of the value declared in the contract ( ESCRITURA ) for private resales.

0.5% document fee

This is the Documented Legal Acts Tax 0.5%.In Spanish it is Impuesto de Actos Juridicos Documentados

property registry fees

These fees are for the inscription of the property in your name in the official Registro de la Propiedad

plus valia tax

This is another tax on property sales, in Spanish “arbitrio obre el incremento del valor de los terrenos”. This is the municipal tax on the increase in the value of the land since the previous sale.

buyer pays purchase costs

It is normal practice for the buyer to pay all purchase expenses. In Spanish “todos los gastos”.

warning to buyers

The Plus Valia Tax can be charged against the property. The seller might promise to pay it, and then forget to pay, leaving the new owner liable for the tax, or with the prospect of losing his property. This was introduced on 1st Jan 1999.

notary fees

Notary fees can vary between 300 € to 550 euros depending on the amount Of paperwork and time that the Notary has to do.

The Notary in Tenerife

the notary

The Notary or The Notario www.canarias.notariado.org is an official of the government who ensures that contracts are legal. He retains the original document in his files should there be any questions at a later date. His duty is to certify that the contract is signed, the money is paid and that the buyer and seller have been notified of their tax obligations.

legal conveyancing and services fees

The fees depend on the amount time spent on behalf of the BUYER. A rough guide is between 1 to 1.5 % of the property selling price.

Costa-Sol-Tenerife Home

Buyers and Sellers guide

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Las Américas

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Costa Adeje