ANNUAL REAL ESTATE TAX (IBI): This tax is very similar to the local rates or community charge that you pay to the local authorities in your home country. All property owners, both resident and non-resident, have to pay the tax annually to the local administration that covers the area where the property is located. The tax can be paid by standing order from your Spanish bank account and this is probably the most convenient method if you are a non-resident since late payment will result in surcharges being added to your bill.
*Please, go to our Conveyancing Guide for more details. CLICK HERE

AVAL: Guarantee requested by the bank to approve a mortgage application.