Bank repo buying costs - Page 2

I bought in San Pedro. My utility costs were about €100 for electricity and the process was relatively straightforward.

Water was quite complex and required several trips to the water company, town hall and even an architect costing around €300.

I hope that this helps.

Just as a small aside, yesterday I enquired online about a bank repo and was told there would be bank fees of around 3k +IVA on top of the purchase price! This is the sort of thing I'm trying to avoid.

Re. the tax situation, I'm coming to Spain as a permanent move so will be a tax resident. The house I'm selling isn't mine, I'm executor for my late mother's estate. I won't be moving to Spain until that's completed as I'll be liable for inheritance tax in Spain, but not in the UK. I'm not coming to Spain to look at houses until we exchange contracts here in the UK - I don't want to fall in love with a house then lose it!

You need to add around 10-15% on top of purchase price to cover all fees, registry etc so factor that into the budget

How much are you looking to spend Yvonne. I have moved from Balsicas to north of Torrevieja. I still have my old property on the market and for a private sale would be 115000 euros , its a 3 bed semi and you can view on Medsun property ,just put in Balsicas ,3 beds in the search.If you are interested the Private message me on this service ,regards .

Yes, thanks, I've accounted for that.  I'm being very prudent with my budget as I don't know yet if I'll need to pay a translator/gestor or accountant to get set up in Spain, or what they'll cost.

I'll be living off a small govt pension till my state pension kicks in, so I need to keep a healthy bank balance to satisfy residency requirements. Very lucky to have an Irish father so coming over on an Irish passport!

Thanks, but I'll be spending less than that! Balsicas urbanisation is the where the bank repo property I mentioned above is - there's no bus service so it wouldn't have worked anyway. This business of not being able to swap your UK driving licence for a Spanish one has really curtailed where I can look. Either all facilities within walking distance, or a property on a bus route are now essentials.

No problem Yvonne and there is a bus service in Balsicas and a railway station. The bus stop is opposite the BP garage on the main drag.

My mistake - it was a repo in Mazarron Country Club! I'm looking at so many properties it's hard to keep track!