Selling a property with propertiespain
PropertieSpain’s philosophy is clear, responsible and flexible to get clients satisfaction. Our team gives our clients a complete sale advice. With our work clients will be able to know specifically the appropriate price, the total amount client will receive, the situation the sale is in, or any other important detail for the sale.
PropertieSpain will analyze different aspects of the property, size, qualities, age, situation, facing way, or maintenance, and then will compare it with other properties in similar conditions. Thereafter, PropertieSpain will inform the client about the correct and appropriate price.
Our aim is client satisfaction, so clients will continue to work with us. At Propertiespain we are connected to over 100 agents, so your property for sale will be published on a wide scale. We are also proud to be member of the AIPP (Association of International Property Professionals)
What you need to know selling a property
When selling your property in Spain, you might not fully realize what you will have to deduce from the sales price to calculate what will be left after all costs. Make sure you take into account the following costs when selling:
1 Plus VallaEvery seller has to pay a tax based on the incremental value of the land which the property occupies over the amount of years you have owned it. (eg: small apartments may be about 50 Euros per year, whereas villas may be a few hundred euros and more per year of ownership).
2 Communiy FeesMake sure your Community Fees are up to date - normally you will have to present a CERTIFICADO DE COMUNIDAD to the buyer on signing the Escritura.
3 IBI & UtilitiesEnsure your local tax council rates are up to date. You will have to provde the original proof od payment at the signing. Also ensure your utility bills are paid to date.
4 Mortgage Cancellation FeesYour bank will probably have anywhere from a 0.5% to 1% cancellation charge on the balance of your outstanding mortgage.
5 Notary Cancellation & Registration FeesPrestigious urbanization located in a beautiful area of Benahavis, with stunning views of the Mediterranean, Gibraltar and the African coast. The complex is surrounded by three prestigious golf courses, making it perfect for golf enthusiasts. One minute walk of the shopping mall The Falcons: restaurants, bank, supermarket, laundry, hairdresser and other facilities and 10 minutes to the beach.
6 Non Resident Retention Tax at 3%If you are non-resident in Spain, the buyer of your property will also have to retain 3% of the Escritura Sales Price to pay directly to the Spanish tax man (hacienda) on your behalf. Residents do not have any retentions made on them.
7 Agents CommissionIf you have used an Agent to sell your property, then you will also have to account for the Agents fees which can range from a 3% to 8% depending on the agent, and the agreement you have made with them.
Obviously you will still have your Capital Gains Tax Liability (18% on profit), but that will depend on your profit. For non-residents, the 3% retention tax counts towards this. Those of you who are making a loss still have to pay out the 3% retention tax, but can reclaim it back from the Spanish tax providing you have all the correct documentation and receipts to prove you have made a loss and paid your annual taxes.
Once you know what all of these costs may be, you can then work backwards to calculate what price you need to sell at in order to walk away with the amount you have in mind in your hand.
Get in touch!
Whether you are interested in listing, buying or renting a property with Propertiespain, please fill out the contact form and we will get back to you.