How much does it cost to write a house?
If you are about to buy a home or are already in it, you will be interested to know how much it costs to write a house, that is, what will be the deed expenses that you will have to assume. But first, you should know that to close the buying and selling process with full guarantees you have to register the property in the Property Registry. To access the Registry, the sale must be formalized before a Notary through a public deed.
In today’s post we will explain how to write and how much it costs to write a house, that is, what are the expenses of the deed. Be attentive to what we explain below because they are essential points to carry out the transaction of sale written before a Notary and register it in the Registry, and also to know how much it will cost you to write your house.
Before moving on to the deed expenses, you must know that in order to write a home, you must do so through the notary. Although the pre-contract the pre-contract is a purchase agreement, the transfer of the domain is not carried out, what is claimed is what has been delivered in earnest that can be claimed by judicial means can have legal validity, it is normal to write Your home before a Notary. Buying and selling can be done either in a public or private document, to buy a house with full legal guarantees and to benefit from the public registry faith. and that therefore it is effective against third parties, the sale of the property must be registered in the Property Registry, but you must keep in mind that in order to access the Property Registry it must have been signed before a Notary, or by means of a deed of sale or either by raising the private contract to the public, which must also be done before a Notary.
You have to know that this procedure must always be done by the Notary.
If a mortgage has been requested for housing, the bank usually gives the Notary a mortgage loan deed where the financial product that the buyer has agreed with the bank is reflected. If you have requested financing to buy the house, it must be written before a Notary. The Bank will facilitate the conditions so that they are reflected in the deed.
The role of the Notary: in addition to attesting and reading the text of the public deed of sale, you must verify that there are no charges in the home and that you are up to date with the community of owners. In addition, you should read everything that has to do with the distribution of the expenses of the transaction of sale and the clauses of the mortgage loan. In addition to attesting, the Notary must read the deed, explaining each of the points clearly and concisely, clarifying the doubts that may arise to the appearing parties, and especially in those aspects that have to do with the distribution of expenses and the mortgage credit clauses. You must also buy that the house is transmitted free of charge and that you are up to date with all debts (IBI, Community of Owners… .etc.).
If the home you buy is new, you must have the First Occupancy license. It is an administrative document that justifies that the house meets the habitability conditions required by law. Also, you should know that there is a building book. It is a kind of dossier in which the housing construction project is detailed, as well as the materials used or the incidents produced during the works. This copy has the president of the community of neighbors, but the buyer of one of the houses in the building has every right to review its existence.
If the house is second-hand, you can request the current certificate of habitability (you must renew it every 15 years) and the last receipts of the IBI (Property Tax).
As for the sale / purchase, who must appear before a Notary?
If the house is new construction: The developer, seller, through its representative real estate agent and agent of the bank (if the buyer has requested a mortgage).
If the home is second-hand, the seller, buyer, real estate agent and a bank attorney (if the buyer has requested a mortgage).
The notary must send the agreement to register the new owner of the property in the Property Registry.
Before detailing the deed expenses of a home, you should keep in mind that although the sale has been formalized before a Notary, at which time the domain is transmitted, so that it has full legal guarantees and effects against third parties, you must register in the corresponding Property Registry. Once the deed is presented in the Registry, it has a period of 15 days to qualify it, and in the event that there are no deficiencies, the sale will be registered when it costs to write a house
Expenses of writing a home
Once you know who is present in the deed and the most relevant things to consider, it is time for us to talk a little about how much a writing costs. You must take into account the costs of preparing the public deed of sale document, the forms of payment and the place where this procedure must be carried out.
More or less, according to experts the price for writing a house is between 6% and 8% of the value of the property. The value of the property can be determined in an evaluation of it.
We will explain a little better what we mean by the value of the home. You should know that there are three indicators: the real one (evolution of market prices according to the type of property), cadastral and deed (usually lower than the real one in order to pay less for the Property Transfer Tax and goodwill municipal).
In total, between the notary, the taxes (Property Transfer Tax, VAT …) and the registration of the Property, the expenses to buy a home can be up to 10% of the value of the home.
-On the price of writing a house, the notary has expenses ranging between € 600 and € 1,200.
-The Land Registry usually costs between 400 and 650 euros.
-Taxes: If it is a new house, VAT revolves around 10% and if it is public housing VAT is 4%, but all this varies according to the Autonomous Community and according to the type of housing we are talking about. You will also have to pay the Tax of Documented Legal Acts, determined by each Autonomous Community, and is usually between 0.5% and 1.5%. And if the home you buy is used you have to take into account the Tax on Property Transfers, which depends on the Autonomous Community. This is usually between 6% and 10%.
The appropriate place to do this is at the notary and the mode can be by cash, card or bank transfer.
How do I write a house? Steps to follow
Now that you know how much a writing costs, let’s say goodbye to the post leaving you the steps you must follow so you can understand how to write a house.
1-In the first place you have to go to a Notary, since it is the professional who will tell us how much a public deed costs and will carry out this procedure.
2-If you do not know what you would notice is the most appropriate, do not complicate, go to the closest to you. Think that you probably have to go more than once, so the less journey you have to do, the better for you.
3-Tell him your case and let him give you feedback. The Notary will try to solve the problems that arise.
4-If you are going to carry out the operation with a bank credit, go first to the bank to verify all the papers before going to the Notary. The Notary would make a second review of all the documentation provided.
5-Once the documentation is complete, it is time to sign the deed. The parties involved must sign here and it is always done before a Notary.
6-The Notary issues a testimony (a reproduction of the deed) and inscribes that document in the Land Registry.
7-The Notary will give you that testimon