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  • Cash payments

    Don't fret and worry about taking cold hard cash to the builders what could be easier than paying for something with cash! The morning we signed i went to the bank withdrew 30.000 euros(sounds a lot, well it is a lot but it wasn't the great big bundle i expected) slipped it in my pocket went to the builders slapped it out on the desk, the money that is, they counted it with an electronic counter gave me a receipt went to the notary handed over the cheque signed the contract job done. The funny thing was they asked for the receipt and tore it up along with their copy no evidence no problem! Don't worry about when it comes to sell you just do the same, some people just want to complicate things and get worried about paying extra tax when they sell. life's to short to worry about buying and selling, enjoy your home wether it be residence or holiday just do it, it's one of the best things i've ever done. well what ya waiting GO ON!

  • #2
    Each to their own and far be it from me to tell people what they should and shouldnt do. However, some of us dont want to wander the streets with thousands of euros. Some of us would rather pay the extra couple of thousand in taxes and not have to worry about paying tens of thousands in Capital Gains. Some of us worry what our kids will pay in inheretance taxes when we fall off our mortal coils. Some of us wonder if the system will change and when we come to sell we cant under declare. Some of us think that the tax that is lost by under declaring could be spent on better resorces such as more policing, schools etc etc, making the whole area safer and better for all. Some of us have chosen not to pay the cash and have had a fight on our hands to acheive this, and some of us are damn pleased we have.

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    • #3
      Jacpops, good on yer!!

      Cin

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      • #4
        Jacpops - I am in the process of buying a new build property and expecting to complete soon. The builder is trying to insist that I pay part of the outstanding amount in black money which I don't want to do. Did your solicitor back you in your bid to get the full price put on the deeds? My solicitor has hinted that it may be easier to go along with it and pay the cash. Did it involve a big increase in his fees etc Was it a long drawn out process or did the builder back down straightaway? Does a builder actually have a leg to stand on as there is nothing in the contract that I have signed to say that any black money is involved? Is it just a case of the builders expecting that the buyers just go along with it without question? Any info would be greatly appreciated.

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        • #5
          Jacpops - I am in the process of buying a new build property and expecting to complete soon. The builder is trying to insist that I pay part of the outstanding amount in black money which I don't want to do. Did your solicitor back you in your bid to get the full price put on the deeds? My solicitor has hinted that it may be easier to go along with it and pay the cash. Did it involve a big increase in his fees etc Was it a long drawn out process or did the builder back down straightaway? Does a builder actually have a leg to stand on as there is nothing in the contract that I have signed to say that any black money is involved? Is it just a case of the builders expecting that the buyers just go along with it without question? Any info would be greatly appreciated.

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          • #6
            I think you certainly have the right to stand firm.

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            • #7
              What a can of worms i've opened up here!
              Just remember we pay capital gains tax in the uk, we also pay inheritance tax but in the uk we buy property a different way to spain. it is pure speculation that tens of thousands will be paid in tax what if the bottom falls out of the property market, their are hundreds of different senario's so on and so forth. Yes we worry about our children it's only natural. but i'm living my live and they will live their's, i'm sure they will treasure lot's of happy memory's from our time in spain and so long has we've got our health money issue's take a back seat. Our fiscal gave us excellent advice on buying and selling a property and we know how we exactly how we stand . All different nationalities buy property in the uk they don't try to alter the process, you could argue that their's nothing wrong with our system and your probably right but the only way the black money system will change is by the british people forcing change, the spanish have there way and they are happy with it. I have done nothing wrong like many thousands of people before me. remember when in rome(or spain) do as the romans do!!

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              • #8
                When in Rome........

                Good advice. So now we are going to only watch Spanish TV, speak Spanish, drink Spanish beer, eat Spanish food..........?

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                • #9
                  Alfombra Man.
                  Surely it is a question of what's right or wrong, not just the "Spanish" way? Because I want to declare the full amount and the builder wants a "bung" I'm made to feel I'm stepping out of line.
                  The builder makes a huge profit out of these new builds, I'm being taken for a mug and so are a lot of people and that surely can't be right?

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                  • #10
                    cash payment

                    If I had been asked to do this in England alarm bells would have rung ,but it is the done thing down the coast of Spain.
                    It worked for me and my Spanish bank account is a lot fatter.Don,t forget the resale values are inflated towards fixtures and fittings ,we can,t have it both ways.

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                    • #11
                      Sounds like some people should have bought a place in sunny blackpool where you can watch english TV, drink john smiths, and eat fish and chips! There is more to spain than the weather.
                      Cinuelica
                      Yes it is a question of what's right and wrong but is it right or wrong?, is their a definative answer? because black money is not a secret the authorities know what happens but they don't stop it. I suppose when property was a lot cheaper the so called bung was only a small amount and exceptable but now because of the property boom the bung has become a serious amount of cash.Nobody bullies you into buying a property abroad, at the end of the day it's OUR choice so you will do what you feel comfortable with. I am delighted with our property in spain and comfortable in the way we purchased it, whichever route you go down to buy, i hope your as happy. best of luck. Tony

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                      • #12
                        Tony
                        I do understand what you are saying but in my case I strongly disagree.
                        With my particular purchase I've had nothing but trouble because of the builders/agents (the whole site has been changed without any reference to the buyers).
                        These past few months have been a nightmare. The builder absolutely refuses to declare the full amount and it looks like I'll have to pay the "bung". If that isn't being bullied, what is? And what's worse, I can't do anything about it - I've tried, believe me.
                        I intend to enjoy Spain, integrate the best I can and am trying very hard to get to grips with the language. BUT that doesn't mean that when I come out to live permanently I'll be wearing blinkers.
                        Cin

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                        • #13
                          Cin....I agree with every word. My builder is trying to bully me into paying him a bung. But I've told my solicitor that it is not in my purchase contract and why do I have to pay it. I am quite happy to pay the full amount with the full IVA and don't wish to defraud the Spanish Government of any tax. The builder is asking me to break the Spanish law by defraud......how can this be right? Eventually, this will all catch up with every foreign property purchase when the government realises how much money they have been done out of. Did your solicitor not back you when you wanted to pay the full amount? Is it not a solicitors job to work on behalf of his client? My solicitor is saying that it will be a lot less hassle if I just go along with it and pay the black money although he will pursue it at a price.

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                          • #14
                            Trueblue

                            My solicitor is in discussion with the builder now and has successfully petitioned on another person's behalf, but because the builder and I have "history" brought about by the agents I have to add, he is digging his heels in and refusing to budge, as I said earlier, I am being bullied into paying it. I am not confident enough to refuse point blank in front of the builder at paying up time so will have to go ahead unless my solicitor is successful. I cannot wait until all this completion business is behind me - never, ever again!
                            Cin

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                            • #15
                              What amazes me here is the approach adopted by solicitors. In the UK they would not hesitate to offer advice that buyers should stay within the law but in Spain they don't seem to want to stand up against tough opposition. I really am disappointed by the attitude of some Spanish solicitors. It makes you have less confidence in their advice.
                              PaddyW

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