The cost of buying property in Spain...

As is the case in any property transaction, there are some costs in addition to the actual purchase price of a house, apartment, condo or vacant property in Spain. What those costs will actually be varies, but you can get an idea of what to expect.

First, expect to pay about 10 percent of the purchase price for a variety of fees and taxes. This may very well impact that amount of money you have to spend on a piece of property in Spain, but you need to be prepared for this before you're actually involved in the purchase. It could be very costly if you've already made an offer and submitted earnest money, then find that you can't complete the transaction. Typically, you'll lose your deposit if you pull out on the deal. (Note that the seller will usually be required to pay you double the deposit amount if he or she decides to kill the deal.)

Remember that your attorney will charge you for his advice and for helping with the contract and details. Most experts agree that you really can't afford to skip this step, even if you're looking to save money. You probably won't pay more than about 1 percent of the purchase price for attorney fees.

The real estate agent's fee may be another extra charge you're going to be paying on the deal. Be sure to find out whether these fees for both the seller's agent and your agent are figured into the selling price before you make an offer. Remember that some agents are willing to negotiate on the fee.

There are several steps commonly accepted in the purchase process. You may be asked to put down a small deposit, or to put down about 10 percent to hold the property and to indicate your seriousness. Having an attorney's advice about these steps is vital to ensuring that you don't lose any of that money.