Estate Agency

Fees or commission are always paid by the seller, unless you have an agreement that states otherwise. There are conversely, search agencies (property finding services)  who will levy the cost to the buyer.

Generally agents will charge between 2%-10% of the sale price, although  because of the lack of buyers in the current market few are charging the higher level of this scale.

Legal Costs

A lawyer – Abogado – will levy a charge commensurate with the service you need. Many solicitors charge approximately 1% of the purchase price in legal costs. On occasion some lawyers charge 1.5% upwards of the actual transaction price. If the purchase is easy and there are no unforseen circumstances this figure is a high, one suggestion is to ask to be billed on an hourly rate. Think carefully before agreeing and always negotiate.

Mortgage costs 

When valuing a property, this is paid for the by the buyer and costs approx. €500.  There is also an  arrangement fee, generallly around 1% of the mortgage. Finally a mortgage  will also increase the Notary expenses.

Notary Expenses

Notary expenses are paid by the buyer and are calculated according to the purchase price shown on the deeds of sale. Calculate Notary fees at being approximately 1% of the purchase price, howver in many cases the Notary fees are nearer to 0.5%  of the price shown on the deeds.

Property Registry  Fees

Expenses registering the sale with the land registry are generally paid by the buyer, and are charged relative to the purchase price shown on the deeds.  Calculate 1% of the price to be sure you are covered, again this can be less.

Additional Costs

Do get a survey done on the property.

To Summarize - you must allow for up to 10% of the purchase price in taxes and ancilliary costs.

If you are taking out a mortgage these costs are higher - in this case allow for upto 13%.