Payment Terms

   

Off-Plan Properties

For off-plan properties (which includes all the properties at Condado de Alhama) there are 3 deposits to be paid:

On Reservation	3,000 Euros
After 20 days	25% of the price, less the 3,000 reservation
After 9 months	15% of the price
On Completion	Balance of 60%

The 20 day and 9 month stage payment include IVA (Spanish VAT) on the amount. IVA is 7% and is the main purchase cost of buying a property in Spain. At completion, it is possible to get a Spanish mortgage to pay for the 60%, or more, if desired (subject to mortgage approval).

Example Payments for Off-Plan Properties
Prices are fixed in Euros and have been calculated at an exchange rate of 1.40 - sterling prices can vary due to currency fluctuations. The best way to purchase Euros is via specialist currency brokers who typically offer better exchange rates than high street banks.