What is a Property Deed and how much Does it Cost?

What Does the Price of the Deed Depend on?

The notarial expenses in the sale of a house depend on the number of copies of the deed, the length of the deed, the presentation entry and, above all, the price that appears in the deeds of the property.

It should be borne in mind that in particular cases, such as officially protected housing (VPO) and mortgage subrogations, a reduction is applied to the fees charged by all notaries.

Related articles: how to request a simple copy of a property deed

These are the Deed Expenses

To find out how much a house deed is worth, you must assess the following expenses:

• The public deed of sale through a notary.
• Registration in the Land Registry, either through the same notary or with a property registrar.
• The different taxes, which vary according to each Autonomous Community.
• The municipal capital gains tax, which must be paid by the seller of the property.

Procedure Prior to the Sale: Pre-Contract or Deposit

As a procedure prior to a sale, it is very frequent, before the public deed, to opt for a private contract between the seller and the buyer, called a pre-contract or deposit. This type of contract is not mandatory, but housing developers always use it, and among individuals increasingly, as an added security to the operation of buying and selling the house.

Notarial Expenses

The notary's fees, also called tariffs, vary between €600 and €1200. This oscillation in the price of the property will depend on the type of real estate on which the public deed is to be made. (house, apartment, villa, garage, storage room...). We will also take into account whether the property is second-hand or new. To give you an idea, a second-hand home can cost you between €600 and €895.

The services provided by the notary will be to attest to the legal facts related to the sale of said property.

The notarial expenses of buying a home are the same throughout Spain, with a maximum discount of 10%. All notaries charge the same for the same service, regulated by Royal Decree 1426/89 of November 17, published on November 28 in the BOE (Official State Gazette).

This regulation aims to guarantee the access of all citizens to the legal security services offered by a notary, whatever their income. It is established that notaries compete for the quality of their service, not for offering a higher or lower price.

How to Register in the Registry?

You can do it:

• Electronically, in digital format, online, through a notary.
• On paper, with a copy authorized by the notary.
• Personally (the buyer himself).

The registration of the property in the Land Registry can be carried out by the notary who has attested to the sale, electronically, if requested. From the General Council of Notaries of Spain, this option is recommended, since its online presentation through the notary's office grants the guarantee and tranquility of immediacy and, at the same time, blocks the registration of any other possible document, such as an undesirable preventive annotation of seizure or a lawsuit against the seller.

Another way to register the deeds of the property in the registry is through an authorized copy, on paper, signed by the notary.

This method of presentation is conditional on the prior payment of the corresponding taxes, either the Onerous Property Transfer tax, also known by its acronym ITP, or, if applicable, the tax on Documented Legal Acts.

Next, once all the documentation provided has been examined and verified, the property registrar will proceed to register the property in the name of the buyer, and the notary will give you a copy of the deeds of the house confirming the change of name in the registry.