Black Money and House Sales

[scampicat]

It was suggested we involved Black Money when we sold our house earlier this year. We refused and the sale went ahead legally.

I know when we bought the house in 2003, paying Black Money was just 'how you bought a house' and no-one thought anything of it. We didn't even realise at the time that it was illegal, as both the notary and the bank manager were party to it!

Once we realised it was illegal we vowed we would not do it if we ever sold, (yes I know it has tax implications) and we stuck to that.

I'm so glad our house sale was totally legal and I don't have to keep looking over my shouldr expecting a Spanish legal letter to drop throught he letterbox.

Is it still as rife as it was in 2003?

[anyroads]

As houses can't be given away at any price at the moment...

Probably no !

anyroads

[Beachcomber]

Unless the sale price is higher than the result of multiplying the valor catastral by the municipal coefficient (which is most unlikely at the moment) there is no leeway for black money even if the parties felt so inclined.

[gus-lopez]

Obviously it depends on area as most valor catastrals around here are at most 10% of the actual value of the property.At the last revaluation in 2005 everyone I have spoken to since had there amount payable go down ??