Busines Project - Alicante/Alacant - 475.000€

Description

Successful family restaurant business, selling due to the retirement of the owners. Frequented by many locals and expats on a daily basis. Close to arenal beach, with a large terrace. Sold as a freehold property. Offering, kitchen, bar, bathrooms, terrace, and restaurant dining area. Highly recommended. Alternatively, you can pay a 70,000 euros traspasa/transfer and rent for 1300 a month in rent.This is a guide to the complete and full costs of buying a 475,000 resale commercial property (bar) in Alicante, Spain.WITHOUT mortgage:Purchase price 475,000 + Property Transfer Tax (ITP 10%) 47,500 + Notary fees approximately 1,5002,500 + Land Registry fees approximately 1,0001,500 + Lawyer / conveyancing fees approximately 4,0006,000 + Optional administration / gestoría / NIE costs approximately 5001,000 = total estimated purchase cost approximately 529,500533,500.WITH commercial mortgage:Purchase price 475,000 + Property Transfer Tax (ITP 10%) 47,500 + Notary fees (purchase) approximately 1,5002,500 + Land Registry fees (purchase) approximately 1,0001,500 + Lawyer / conveyancing fees approximately 4,0006,000 + Optional administration / gestoría / NIE costs approximately 5001,000 + Mortgage valuation fee approximately 500800 + Mortgage notary & registry fees approximately 7001,500 + Bank arrangement / opening fee approximately 02,000 = total estimated purchase cost approximately 531,700540,800.Estimated cash required at completion with commercial mortgage:50% LTV loan (typical conservative lending): approximate cash required 280,000288,00065% LTV loan (upper range if bank offers higher): approximate cash required 194,000202,000Disclaimer: This is for guide purposes only and does not constitute the final offer, which is dependent on an individual buyers situation, and does not include any discounts or enhancements given.

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