The Final Stages Of Buying A New Home In Spain
So you signed for your new house about 2 years ago, all you saw was an artists impression but now we are coming to that time when you about to hand over the final payment and take ownership of your new home.Spain has this illegal way of declaring the true value of the home, that all builders and solicitors still action as part of Spanish life. For example you will need to pay a 7 purchase tax on your new home, but if you state the value is 20 less and pay the last payment in cash to the builder you can save a substantial amount of money. Even though it is illegal it is almost an expected practice in Spain. However there is a draw back, for when you decide to sell there is also a tax on the profit you have made during your ownership, as you have under declared your home
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