What notary fees must I pay when buying property in Spain?
How much does a notary cost?
If you are buying a property in Spain then you will have to pay notary fees. The notary is an important professional with public function within the Spanish law system who certifies documents and makes sure that private agreements fulfill specific legal criteria.
The notary fees when you are buying property in Spain are one of the legal costs that you must pay. There are other such as land registry fees and solicitor's fees, for which you should obtain a quote before you begin the purchasing process.
The amount the notary charges is prescribed by law and depends on numerous factors such as value of the property, number of pages of Title Deed as well as attachments incorporated in the deed, and generally could be between 600 € and 900 €. The Title Deed is inscribed at the Spanish Land Registry and the fee for this is usually around € 400, depending the exact amount on numerous factors.
Notaries train long and hard before they take up their position. They study for four years to achieve the 'Grado de Derecho' which is the general law qualification that you need in Spain. They then study for a further period of time of between four to eight years in order to pass the public examination for Notaries and obtain the authorisation to take placement as a Notary.
Each Spanish notary has a stamp and signature which is used to endorse the document that they are asked to inspect. They are responsible for bringing these documents into the public domain and have a strict code to follow.
Foreigners can be confused and surprised by the notary fees they have to pay when buying property in Spain. It is not a role that is found in every country and it is important to recognise this as a stage in the conveyancing process. The money needed should be built into your budget.
It's not just documents for conveyancing that the notary is asked to verify. They are also involved in checking marital status documents, last wills and testaments, marriage settlements, general contracts and agreements, loans, mortgages and other debts, and numerous other public documents.
It's the notary with whom you can grant power of attorney (Poder Notarial). This is the means of enabling the legal process to continue without you actually being in Spain yourself. You nominate a trusted individual who will represent you in a specific transaction and this is recorded as a legal document that must be signed in front of the notary.
Many people have found that taking out a power of attorney has been a useful action to take when buying their property in Spain. It can be difficult to combine ensuring that you are in the country as a non-resident with the date when all the documents are ready to sign. Taking out a power of attorney removes any uncertainty around this and can save some flight costs too.
Ábaco clients are taken to the notary office by their contact person at Ábaco. However, people acting independently can locate a notary by the notary emblem that they must display.
Doña Tatiana Martín Ruiz is the notary who Ábaco has worked with over many years. Her office is close to that of Ábaco's Torrevieja branch in calle Maria Parodi. This means that there is only a short walk from Ábaco's offices to the notary office.
The notary fees when buying property in Spain through Ábaco are clearly indicated on the final fee sheet. This ensures transparency and clients can be clear exactly how the final bill has been reached.