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Within thirty days immediately after signing the final order contract, the vendor is obliged to pay for taxes and costs Based on Spanish tax legislation. This volume will be 10% in the property value. When tax is paid, the deal will be registered. Payments and tax charges when buying a property in Mallorca: El impuesto de transmisiones patrimoniales (ITP) eight% Property transfer tax with the resale property IAJD — Impuesto sobre actos jurídicos documentados Around 1,2% Stamp duty differs depending on the municipality. The utmost level to the Balearic Islands is one.2% in the property price. IVA – price added tax 10% The buyer pays it only when paying for a new home from a progress business. The buyer pays it only after the property acceptance deed. Registration costs 0,2% A consumer pays the charges to apply for the property to the Registry. Notary Costs - The customer pays the get more info notary's service fees. Every single notary sets the price.
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