Purchase Property

Home Buying - Home Buying and Home Selling Advice - Buying a Home  You are here: About > Home & Garden > Home Buying / Selling Home & Garden Home Buying / Selling Essentials 10 Things Home Buyers Shouldn't Do Best Tips for First Time Home Buyers "Must-Do" Tasks Before You Sell How to Buy a Home, Step by Step For Sale by Owner Advice Articles & Resources How To Buy a Home How To Sell a House Celebrity & Historic Credit Reports & Scores Design & Remodel Home Maintenance Inspections & Appraisals Investing & Foreclosures Modular & Manufactured Mold, Radon, Lead, etc. Mortgage Advice Moving & Relocation Real Estate Careers Real Estate For Sale Vacation Homes Buyer's Guide Before You Buy Top Picks Home Buying Books Foreclosure Books Mortgage Books Product Reviews Forums Help FREE Newsletter Sign Up Now for the Home Buying / Selling newsletter! See Online Courses   Search Home Buying / Selling From Janet Wickell , Your Guide to Home Buying / Selling . FREE Newsletter. Sign Up Now! Getting Ready to Sell Your House Guests and lots of activities make it difficult to show a house during the holidays, so home owners sometimes put off selling their homes until after the first week in January, when life starts returning to normal. If you're in that category take some time to evaluate the condition of your home before you list it with an agent or sell it by owner . Be sure to analyze your situation to determine if selling is your best move, then think about the home's curb appeal and get the interior and exterior in tip-top shape . It's not a bad idea to do a few inspections to make sure the house is ready for potential buyers. Handle as many tasks as you can now and you'll find that the sales process will be a breeze. Monday December 26, 2005 | permalink Before You Buy Gas Logs Gas logs are growing in popularity every year, so manufacturers have geared-up to offer us a wide selection of appliances. You'll find gas logs to put in a hearth, freestanding gas stoves, and fully contained fireplace units that are mounted to a wall. But did you know that the dangerous gas byproducts produced by gas logs is not always vented to the outside? It's important to understand the differences between vented and vent-free logs before you buy a gas log fireplace. Saturday December 24, 2005 | permalink Pros and Cons of Becoming a Real Estate Agent You've decided you want to become a real estate agent, but what's your motivation? Do you understand the type of work real estate agents do and are you savvy about the true pay they receive for their work? It can be a rewarding career choice, but it's definitely not the best option for everyone and there are lots of things to consider before you decide that a real estate career is right for you. Wednesday December 21, 2005 | permalink Step-by-Step Directions Help You Measure Square Footage Each year, home owners discover that their new home's square footage is not the figure that was stated when the house was advertised. Owners sometimes decide to sue the people who were involved in the transaction, especially if the difference is significant. Real estate agents and for sale by owner sellers can reduce their risks of encountering a lawsuit by knowing how use accepted standards to measure and calculate a home's square footage . Get it right the first time so that everyone's happy with the results. Wednesday December 21, 2005 | permalink Buying Land for Your New Home If you've looked and looked, but can't find the perfect combination of land and house, maybe it's time to consider building. And while buying land for your new home can seem intimidating at first, you'll find it really isn't a horrible task if you fine-tune your wants and needs before you start searching for real estate. Tuesday December 20, 2005 | permalink Buying a Home with Great Resale Potential A few generations ago it wasn't unusual for people to live in the same home for many years, somtimes the rest of their lives after becoming homeowners. We're more mobile today, always "moving up" to a larger house or relocating to a new town. So it makes sense to put some thought into buying a home with good resale value , one that will sell easily and put extra dollars in your bank account if you do decide to move. Tuesday December 20, 2005 | permalink What's a Quit Claim Deed? Home buyers usually receive a general warranty deed when they purchase real estate, because it's a type of deed that offers several guarantees from the seller that the title to the property is good. Another document that's sometimes used is a quit claim deed . It works perfectly for some situations, but it's important to understand the limitations of a quit claim deed before accepting one when you purchase real estate. Friday December 16, 2005 | permalink How Credit Scores Are Calculated Everyone looking for a mortgage to buy a home--and that's most of us--finds out right away that credit scores play a huge role in the types of loans and interest rates that are offered to them. It's helpful to study your credit reports and scores before you apply for a mortgage, and to do it as early as possible to give yourself time to correct errors before a lender takes a look. Wednesday December 14, 2005 | permalink Moving Tips and Timeline Buying a home is exciting, but let's face it... moving is a chore. A big one. The only way I know to get through it without an excess of stress is to manage the moving process in little steps instead of letting it overwhelm you at the last minute. Start early and stay organized and you'll be ready for the moving truck before you know it. Monday December 12, 2005 | permalink Typical Home Buyer Closing Costs Closing costs are the expenses associated with buying real estate. You can expect to pay a large chunk of your closing costs the day the trasaction is complete, when the property becomes yours, but some closing expenses are nearly always paid before that day. There's no single set of expenses that every home buyer must pay--every transaction is different--but it's a good idea to become familiar with typical closing costs so that you'll have a better understanding of the items billed to you on your HUD-1 settlement statement . Wednesday December 07, 2005 | permalink Display Latest Headlines | | | Read Archives powered by Movable Type Important disclaimer information about this About site. Advertisement Related Blogs Mortgage Fraud Blog The Real Estate Blog The Money Pit Most Popular Modular and Manufactured Homes Finding Your Best Place to ... Home Buying Don'ts First Time Home Buyer Tips Before You Sell Your Home What's Hot Coping with Unethical People How To Buy Land Real Estate Appraisal Before You Buy a Log Home Package Home Buying / Selling - GuideReviews Related Topics Home Repair Architecture Credit / Debt Management Housekeeping Landscaping        Topic Index | Email to a Friend Our Story | Be a Guide | Advertising Info | Work at About | Site Map | Icons | Help User Agreement | Ethics Policy | Patent Info. | Privacy Policy | Kids' Privacy Policy ©2005 About, Inc., A part of the New York Times Company . All rights reserved. Around About Oprah's Life Vacation Ideas Shop Safely Online VIDEO: Craft Rooms VIDEO: Christmas Traditions What's Hot Coping with Unethical People How To Buy Land Real Estate Appraisal Before You Buy a Log Home Package Home Buying / Selling - GuideReviews Headlines Getting Ready to Sell Your House Guests and lots of activities make it difficult to show... Before You Buy Gas Logs Gas logs are growing in popularity every year, so manufacturers... Pros and Cons of Becoming a Real Estate Agent You've decided you want to become a real estate agent,... Step-by-Step Directions Help You Measure Square Footage Each year, home owners discover that their new home's square...

Texas Land Trusts About

About Texas Land Trusts: Introduction Maincontent Local Navigation print friendly search Regulations Publications Outdoor Learning Kids Game Warden Grants Get Involved Shop FAQ Calendar Español Experience Texas Fishing & Boating State Parks & Destinations Hunting & Wildlife Land & Water Doing Business Home Land & Water Land Private Tltc Dir Intro Texas Land Trusts About Texas Land Trusts Starting a Land Trust Texas Land Trust Directory Foreword Listing Regional Index About the Texas Land Trust Council ( TLTC ) TLTC Board of Directors and Honorary Council News 2004 TLTC Conference Speech Bulletin Board TLTC Publications Land Trust Resources Texas Land Trusts Top 1-Million Mark in Acres Conserved Introduction 2001 Texas Land Trust Directory A land trust is a local, state or regional nonprofit organization directly involved in protecting land for its natural, recreational, scenic, historical or productive value. Texas landowners have a variety of options available to them which can preserve and protect the special qualities of their property. The land trust organizations in this directory work with landowners to help them meet their long-term land use objectives. These organizations may be willing to purchase land or accept donated properties and easements for conservation purposes. These tools can be tailored to meet the specific needs of the property owner. Land trusts have varying conservation objectives. Some work in specific geographic areas, or concentrate on protecting different natural or cultural features; many provide technical assistance and educational programming about land conservation. Also listed in this directory are organizations in Texas that advise property owners on their land conservation options, but do not accept land donations or manage conservation easement agreements. Land trusts are a creative answer to today's land conservation challenges. They offer a flexible, cooperative and effective approach to land conservation. Land trusts are the fastest growing conservation movement today, with new land trusts forming at an average rate of more than one per week. America's 1,200 plus land trusts protect millions of acres of farms, ranches, wetlands, wildlife habitat, urban parks, forests, watersheds, coastlines and river corridors. Contact Us | Help | Accessibility | Media | Site Policies | Complaints | Intranet | State of Texas | TRAILS Search | TexasOnline | Compact with Texans Texas Parks and Wildlife Department , 4200 Smith School Road, Austin, TX 78744 Toll Free: (800) 792-1112, Austin: (512) 389-4800 Content of this site © Texas Parks and Wildlife Department unless otherwise noted. Last modified: July 29, 2005, 4:38 pm

Buy Home

Screensavers and multimedia authoring tools at RI Soft Systems Screensavers -Selectfrom list below- 3D Christmas Cottage 3D Falling Leaves 3D Halloween 3D Snowy Cottage 4th of July Fireworks Adorable Pets Advent Calendar America - Land of... American Flag Tribute Archive CD - 1999 Archive CD - 2000 Archive CD - 2001 Archive CD - 2002 Archive CD Set Attack of the Y2K Bug Autumn Scenes Bible Scenes Bill's Pie Toss Birds of Prey #1 Birds of Prey #2 Blank-it Calm Before the Storm Clinton Blues Corndog Cupid's Valentine Demotivators Desktop Graffiti Dimensia 3D Dog Days Duke Nukem Flowers and Fields Ghoul's Delight Halloween Bundles Haunted House Heavenly Valentines Hey Macaroni Holyear vs Teethson Hoover Horoscopes Hot Air Balloons Image Carousel II Lake Scenes Lewd Leprechauns Liverdance Living 3D Dinosaurs Living 3D Dolphins Living Beaches Living Coral Living Gardens Living Rainforest Living Series Living Snow Globes Living Wallpaper Living Waterfalls Living Waterfalls 2 Living Wilderness Lord of the Runway Love Saver Macaroni Antics Majestic Horses Matrix Recital Mikey Likes Ears My 3D Christmas Tree New Frontiers Night Before Christmas Penguin Party Pope Paul II Pretzel Game Princess Diana Randomizer Ronald Reagan Rude Dude Series Santa's Workshop Scenic Waterways Soothing Sunsets Spray Paint Sumo Dance Survivor Parody Thanksgiving Recipe Trick or Treat Turkey Shoot Whales and Dolphins Whitehouse Mambo Wild West Winter Wonderlands Games -Selectfrom list below- Jixxa 2.0 RISS Solitaire Utilities -Selectfrom list below- Adorable Pets WP ICL Builder RISS Font Paks Other Holiday Favorites 3D Snowy Cottage Only $16.95 Living Snow Globes Only $16.95 Winter Wonderland Only $14.95 Advent Calendar Download for $14.95 Penguin Party Download for $9.95 Living Waterfalls Only $14.95 -- Living Waterfalls 2 Only $14.95 -- Live Webcam Pictures -- Why wait for Santa? As you begin the countdown to Christmas, dont forget to decorate your desktop. My 3D Christmas Tree Decorate your own Christmas tree or set to random and enjoy the beauty of the holiday season. Watch the snow fall on our Christmas village while birds and rabbits frolic in the fresh snow. Get in the spirit with the holiday music included. For $16.95 you will receive the full version of My 3D Christmas Tree for two additional Christmas scenes and more varieties of lights and decorations . See More Details 3D Night Before Christmas Remember the excitement of Christmas Eve! Everything is ready and a calm descends. Turn your screen into that peaceful evening with 3D Night Before Christmas ScreenSaver. The lights on the Christmas tree blink as the snow falls serenely outside the windows. The fireplace glows as the cat meanders through the room, decorated for the holidays . The setting is complete with your favorite Christmas music and sounds - five songs to choose from. Purchase to the full version for $16.95 and receive two additional holiday scenes . Your family will treasure every one. See More Details 3D Christmas Cottage Nothing is more beautiful than accumulating snow on a picturesque holiday scene. Holiday lights welcome you as twilight approaches on this quaint Christmas cottage with its glowing windows and smoking chimney . The evergreen setting comes alive with birds, rabbits and a meandering stream under a rustic stone bridge . Purchase to the full version of 3D Christmas Cottage for two additional Christmas cottages and delight in the beauty of the season. The full version is available for an exceptional value of $16.95. See More Details Santas Workshop This holiday classic has been entertaining families for years. Feel the frenzy as the elves prepare for the joyous day as they work industriously at the toy assembly line . The whimsical animation is certain to amuse your family and generate excitement for Santas impending visit. Purchase the full version for more jolly elves working on fabulous toys, surprise visits from Santa and even more spellbinding animation, including flickering candles , roaring fireplace, calendar countdown, tinkling wind chimes and visiting birds . Turn up the sound and frolic to the holiday music . See More Details Animated Wallpaper My 3D Christmas Tree Free Download 3D Snowy Cottage Free Download Christmas Countdown Free Download Free RI Soft Systems E*News Newsletter Enter your email address to receive our free E*News, with announcements ofnew screensavers, updates and more: PrivacyPolicy Top Selling Screensavers Living Snow Globes Living Waterfalls Living Beaches Santa's Workshop Living Coral Living Wilderness Living Rainforest Living Waterfalls 2 Advent Calendar

Real Estate Loan

Deductibility of Real-Estate Loan Refinancing Charges Deductibility of Real-Estate Loan Refinancing Charges By Steven V. Melnik E-mail Story Print Story With interest rates at all-time lows, many Americans are refinancing home loans. Because refinancing transactions usually cost thousands of dollars, it is important to know when refinancing expenditures are deductible. Loans Secured by a Principal Residence The IRC defines a principal residence as where the taxpayer spends the most time during any given taxable year. Consequently, principal residence status can change from year to year. As a general rule, taxpayers can deduct points paid for refinancing principal residence loans. IRC section 461(g) defines many fees as points, but only qualifying points are allowed as a deduction. Qualifying points are usually fees paid to the lender for a loan (see the Sidebar for a list of requirements). Loan application, processing, underwriting, and other fees are not deductible. Revenue Procedure 94-27 allows itemized deductions for qualifying points resulting from the purchase of a principal residence. Points paid for refinancing an existing mortgage, however, cannot be immediately deducted. According to IRC section 461(g), those points are deducted over the life of the new loan. To calculate the portion of those points deductible in any particular year, determine the deductible points for each loan payment and multiply by the number of payments made during that year (per payment amortization). For example, consider an individual who paid $1,800 refinancing qualifying points on a principal residence for a 30-year loan requiring 12 payments per year (a total of 360 payments). The $5 allowable deduction for every loan payment is calculated by dividing $1,800 by 360. Six loan payments during the year would result in a $30 itemized deduction, with unamortized points amounting to $1,770. Multiple Refinancing Activities Remaining refinancing points are generally deductible in the year when a second refinancing occurs with a different lender. In the example above, the remaining $1,770 first-loan points would be deductible that year. If the second refinancing is with the same lender, however, the remaining points and any new qualifying points paid would be deductible over the life of the new loan. Points paid during a refinancing transaction are immediately deductible to the extent the new loan is used to substantially improve a principal residence, assuming the requirements listed in the Sidebar are met. Substantial improvements, such as building an addition to a house, qualify. For example, a $60,000 loan from bank B to refinance bank A’s $40,000 loan and a $20,000 house addition would result in one-third of the newly paid qualifying points being deducted that year. Refinancing of Second or Vacation Homes Some Americans are investing in real estate as an alternative to stocks and bonds. Tax rules applicable to vacation and second homes differ from those for primary residences. Points paid for a purchase, substantial improvement, or refinancing of second and vacation homes are generally deductible over the life of the loan. The per-payment amortization method is applicable. Other refinancing-related expenditures increase the tax basis of the home. Rental Properties and Properties Used in a Trade or Business. When refinancing rental properties and properties used in a trade or business, all ordinary and necessary refinancing expenditures are deductible over the life of the loan. Refinance-related expenditures for rental properties are deductible on line 18, Form 1040, Schedule E; for properties used in a trade or business, expenditures are deducted on Form 1040, Schedule C. Other Deductibility Issues When sellers of real estate pay for points on the buyer’s behalf, they are not allowed to deduct those points, but can reduce sales proceeds. Buyers can deduct those points if the property basis is reduced by the same amount. All other refinancing-related expenditures, such as attorney, appraisal, bank, title, and other fees, are not deductible. They do, however, increase the tax basis of the home to the extent they are not deductible. Points are deductible when a cash-basis taxpayer itemizes deductions. Deductibility can be affected, however, when a taxpayer’s adjusted gross income reaches a certain threshold. (The 2003 threshold is $69,750 for married filing separately returns and $139,500 for all others.) The deductibility of refinancing-related expenditures depends upon the type of property securing the refinanced loan, as well as how the loan proceeds are used. The use of the property must be understood, because properties can be used for more than one tax purpose in any given year. It is important to be familiar with the tax consequences of refinancing transactions in order to derive the maximum benefit. Steven V. Melnik, LLM, JD, CPA , is Professor of Tax Law and Director of Graduate Tax Programs at Bernard M. Baruch College, City University of New York. May 2004 Issue Enlarge Cover Features Regulation of Professions by Interstate Compact 20 Questions onTrust, Medicaid, Insurance, and Asset Transfers Accounting for Stock Option Government Procurement Basics More This Issue | Past Issues Home | Contact | Subscribe | Advertise | Archives | NYSSCPA The CPA Journal is broadly recognized as an outstanding, technical-refereed publication aimed at public practitioners, management, educators, and other accounting professionals. It is edited by CPAs for CPAs. Our goal is to provide CPAs and other accounting professionals with the information and news to enable them to be successful accountants, managers, and executives in today's practice environments. ©2005 The CPA Journal. Legal Notices

buy property in Spain.

Buying property in Spain - A full guide to buying property in Spain Buying Property in Spain A full guide Sponsor this Page for 720.00 a year Over 250,000 Unique Visitors every month! Click here Home | Spanish Shop | Photo Library | Message Board | Classified Ads | Property | Currency Converter | Site Map | Stats | Search | Advertise | About Us | Contact Us Property in Spain - A full guide Introducing the new service from idealspain.com www.idealspain-properties.com - Properties for sale & to rent throughout the whole of Spain CrawfPro Spain SL - CrawfPro is a private company based in Granada, selling select homes in the area. We can also find your property, survey it, lead the buying process, inspect construction, manage your project, look after your property and deal with bureaucracy. Don't be alone. HIFX - Save money on currency, regular payments & overseas property insurance. Lump sums: excellent exchange rates & totally free transfer of funds to Spain. Regular payments: fix an exchange rate for your mortgage or pension transfer for up to 2 years ahead with no monthly transfer changes (this alone could save you 300 per year!). Buying a property in Spain Foreigners buying property in Spain has become very popular. The country has a pleasant, healthy climate and in recent years the local authorities have made great efforts to increase the number foreign tourists and residents. Spain now derives more of its foreign income from tourists than any other country in Europe. Due to low European interest rates, now is a good time to buy property in Spain. There is a very wide selection of standards, from farmhouses (fincas) and plots through to villas, townhouses and new apartment developments. There is no shortage of real estate agents in Spain and it pays to search out a good company who will care for your requirements. Before you buy a property in Spain you should use our website to look at the different areas then consider visiting your favourites before deciding where to buy. Many people also rent a property in that area first. Here's a simple guide to get the most out of buying a property in Spain: Set your budget limit and stick to it. Visit the property at least twice before you make a decision. Check what amenities the property has such as electricity, water, gas. Have a builder or architect examine the structure of the building. Talk to your prospective neighbours about the area. If you are unsure about a property, take photos and draw sketches to take home with you. Have your legal advisor check ownership of the property before you sign anything. Have your legal advisor check outstanding debts on the property before you sign anything Initial Costs As well as the cost of the property, the buyer will be liable for transfer tax (IVA), which at present is 6% on a second-hand property and 7% on a new one, plus 1/2% stamp duty. The property registration office will charge you a fee to change the new deeds into your name. This is usually around 300€. There will also be notary charges for copies of the 'escritura publica'. The charge is on a scale depending on the contract price. In total you should allow 10% of the purchase price for costs. It is often the case that the buyer also pays the sellers fees. Check this at the point of enquiry and it is often possible to negotiate. Banks may also charge an opening commission for mortgage loans. Annual Costs The local town hall charge IBI which is an annual real estate tax. The previous owner is obliged to give you copies of previous bills. Community charges apply when you buy a property on a community development. These cover things like maintenance, swimming pools, gardens etc. You will also be liable for a wealth tax, payable annually and based on the value of the property and a property owners income tax based on your income from the property. You should clarify these in detail with your estate agent at point of enquiry . Finance See our mortgages section here Many developers of new properties are now offering up to 80% over 20 years for non-residents. Local banks will offer anything up to 60% for European residents. Most loans are long-term and secured on the property. When seeking a loan, make sure you are aware of the interest rates and if they are fixed or floating. Banks will ask for passports, residence permits, payslips, sale contracts and copies of the title deeds. There are many advantages to taking out a loan to purchase your property, in the form of tax allowances. We have not listed them here as they are subject to fluctuation. You may need to transfer money into Spain and you need to protect yourself: When you buy a property in Spain, you will know the price of the property in Euros but you will not know the actual cost until you buy all of the currency to pay for it. This means that the property could either cost you more than you had planned (if the Euro strengthens) or the property could become cheaper (if Sterling strengthens). Recently Sterling has fluctuated more than 10% against the Euro within a matter of months, so this does deserve careful consideration. On the basis that you are buying a property and not speculating on the currency markets, it is worth fixing the exchange rate for all of your future stage payments to the agent / developer. How to fix the exchange rate: 1/ Buy all of the currency now on a "spot contract". Hold the currency on deposit and send payments when they are due from your Euro account. To do this you need to have full funds available. 2/ Buy as much currency as you can afford now (e.g. for the first 2 payments) and reserve an exchange rate for the remaining payments. To reserve an exchange rate you need to buy a 'forward currency contract'. In effect you are buying currency now but paying at a later date when you have the funds available. The exchange rate that you achieve on a "forward contract" is not quite as good as that for a "spot contract" but it does guarantee that you know the cost of the property. You will be required to pay 10% of the value immediately and the balance by the date that you have reserved the currency for. Use a specialist currency broker : As a result of extensive research idealspain are pleased to offer preferential currency transfer rates for all their clients and visitors, click here for more information . It is also advisable to speak to your new bank with regards to High Interest Sterling Accounts where your mortgage payments can be taken directly and converted on your behalf. Approx cost to buy a home at 128,000 euros or (80,000 pounds) IVA 7% Spanish VAT payable on declared property value 8,960.00 Legal fees Searches, preparing deeds and translation etc 900.00 Notary's fees Preparing escritura, registering and stamp duty 600.00 I.A.J.D Spanish tax of 0.5% of the declared value 640.00 Connection charges Water, gas, drainage, electricity etc 300.00 Plus Valia Capital Gains Tax on increased value of plot since last sold. Levied by the Town Hall 60.00 Total Approx 7,355 pounds €11.460.00 Currency Converter Legal Matters Most properties in Spain are in fact NOT registered. Most of the re-sale properties are sold by Spanish ....still.... since they earned about 100 a year from selling fruit and veg they would certainly not pay 300 to pay for their property to be registered. The only way someone may find out if how many square meters is legally theirs to sell is by investigating at the Catastral Department and Town Hall. If they have ever declared that there is a property at all. A great deal of families have never informed the Town Hall that a senior family member has deceased and therefore many sales take months to proceed to completion. There are many families with complicated backgrounds, most children believe they actually own what is and sometimes what once was their parents, sometimes resulting in an Expediente Dominio where there can be no proof of title at all. A great deal of the beautiful villas you see advertised are not registered by the builder and therefore the purchaser pays for the first registration, sometimes no licences have been issued and the seller is required to pay fines to the Town Hall. Many many properties are then registered with less than the actual square meters of built area, and a great many are not mortgageable. Most urbanisation properties now being built are of course registered first because there is a compulsory registration system in Spain for new developments but this is Urban land - not countryside. Most of the old village properties have no Title Deeds. The seller of a second-hand home should provide the following documents: The title deed of the property Receipt of payment of the real estate tax for the last year Receipt of payment of the tax on the increased value of Urban Land Certificate that any community charges (if applicable) have been paid up to date Latest copies of domestic bills so that you can take over the services such as electricity and water The seller or developer of a new property should provide you with: Deed of declaration of new construction Occupancy permit Certificate of rateable value of the property Normally, before the purchase of a property is made official, there is a prior agreement drawn up between the buyer and seller. This document will identify the two parties and set out the terms of purchase. You must seek legal advice before signing this and you must be sure that this is the property you want to buy. You can lose any deposit you have paid if you pull out of the purchase and there is a penalty clause in the contract. In the case of the seller defaulting then he has to pay twice the amount. When it comes to signing the contract, this has to be before a notary, in the form of a public deed. This ensures that the details are entered onto the public records. Insurances Fire insurance is compulsory by law when taking out a mortgage. Comprehensive household insurance is available to protect your home and contents. Life insurance can be taken out to guarantee payment of the loan in the case of death. The cost of property - trends Official figures for the Costa del Sol state that property prices will increase this year by 12-15%. It is claimed that an average new property with two bedrooms in a block now costs 241,000 euros (around 2,000 euros per square metre). An average villa costs 388,100 euros. On the Costa del Sol there are around 20,000 homes for sale, 40% of which is in the Marbella area. 75% of home buyers on the Costa del Sol are foreign. The increase in prices is leading to an increase in the number of smaller, cheaper municipalities springing up, away from the coast. Tax advantages for property owners If you spend more than six months a year in Spain, you are obliged by law to apply for a residents permit.* This law is currently being abolished. There are however, several tax advantages for residents of Spain that do not apply to non-residents. Inputted income tax is an annual tax on an imaginary income resulting by virtue of ownership of a property and is charged as 0.5% of the catastral value. If you are a resident you will not be charged this on your principal home. Wealth tax is a tax on all assets in Spain and is charged at 0.2% of the catastral value of any house owned. For residents the first 108,000€ is exempt and for a joint ownership this would apply to each partner. These two taxes are paid annually as long as you own the property. Non-residents do not receive any relief so therefore have to pay 0.7% of the catastral value every year. When you come to sell the property, capital gains tax will be charged on any profit you have made. This is 35% for non-residents but only 20% for residents. A further concession for residents is that if you are over the age of 65 and have lived in your property for at least three years, you are totally exempt from capital gains tax. Finally, if you are 60 years of age or more and have lived in your property for at least three years, you can bequeath your property to your spouse or children and avoid paying inheritance tax on 95% of the valuation. 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Watch our free online demo that plays the first 15 minutes of a lesson. In this demo, the in program manual is displayed on the screen. spanish-online.co.uk Spanish book, cd and cd-rom publishers. User-friendly material for complete beginners to intermediate level. To make the most of our great offers, use the promotional code IDEALSPAIN on our online shop. Intasure - Insurance for your holiday home in Spain - Property insurance for expatriates in Spain - Comprehensive golf cover 365 days of the year which covers theft of equipment, medical expenses, travel, public liability and even hole in one cover - Low, low cost travel insurance. Avro is the UK's leading charter flight-only company, selling over one million seats every year. We have recently expanded and now offer scheduled flights to destinations worldwide, with flights available from over 70 of the world's leading airlines. Bookings.org - The best selection of Hotels, at great prices, throughtout Spain... View Special offers here & 5,166 Golf courses in Europe - Find golf courses in Spain, view pictures of all courses with maps. Book nearby hotels online . Car Hire Booking Centre Online together with IdealSpain.com - Created with one main objective; to offer clients the best vehicles with the best service at unbeatable prices. Why pay more when BOOKING CENTRE ONLINE offers MORE THAN THE REST, CHEAPER THAN REST? Car hire throughout Spain, the Canary & Balearic Islands . Hotel Club - The fast and secure service offering savings of up to 60% on your accommodation. To view Specials click here . PHA Travel has been offering independent advice on Health and Travel Insurance since 1995. Now in our 8th year this site provides our best selling value for money Travel Insurance from a range of reputable travel insurance companies. All policies are underwritten at Lloyds of London or through international travel insurance providers. 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