Lawyers
The lawyer will ensure that the property has no associated debts owing and that the investment is safe and secure.
Your lawyer will also arrange connection of services such as gas, electricity and water and will also liaise with you on setting up direct debits or standing orders.
The lawyer will detail the exact costs associated with a specific property purchase, but as a general rule of thumb, add 10% to the purchase price for costs associated with property purchase in Spain (slightly less in Tenerife and Portugal). This is made up of:
| IVA (VAT) Stamp Duty Lawyer Notary and other disbursements |
7% 1% 1% 1% ---- 10% |
In Spain and Tenerife VAT is payable on the deposit payments but is recoverable if you assign your contract before your property has been built. In Portugal VAT is payable on property completion.
We recommend two independant firms of lawyers. We are delighted to offer you the choice of either Rowe Cohen or Rowlands both of which are dynamic, national law firms.
To allow for complete client security:
- All deposits are lodged with our lawyers
- All development contracts are forwarded to our lawyers prior to release for their approval
Rowlands
Rowlands are a Manchester based firm with 11 partners with offices in Spain and Portugal.
Visit their website, www.rowlands-solicitors.co.uk
Rowe Cohen
Rowe Cohen are tipped to be a top "rising 50" law firm this year and has offices in both London and Manchester and has 16 partners.
Visit their website, www.rowecohen.co.uk