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Costs when selling a property in Spain

Posted by Property Choice Spain on 11 February, 2019
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Documentation Required for Selling your property

It is important to note that on the day of completion, you must take all the original paperwork to the notary with you.

 

  1. Signed inventory list (this is not always necessary however is the buyer asks to have one done or if you state that you’re selling your property part-furnished will we get one done) someone from the agency will go down to the property with you to list down all of the furniture staying in the property when you sell, this paperwork will then be signed by you and sent to the buyer and solicitors.
  2. Copy of the Escritura (property deeds) this is required for the solicitor of the buyer to order a Nota Simple (legal paperwork of property) and perform all the checks necessary on the property making sure it can be sold and does not have any outstanding payments.
  3. Habitation Certificate (lasts for 10 years) this certificate is obtained by an architect who will go to your property, take all the measurements and make sure the property is in liveable condition.
  4. Energy efficiency certificate (E.E.C), you may already have this document however the likelihood is that it is out of date, the same architect who carries out the necessary work to get your habitation certificate can get the EEC.
  5. Recent water/electric & IBI (SUMA) bill, the solicitor needs these documents with the contract numbers to change the name/owner over to the buyers once the title deeds have been signed.
  6. Copy of your passport & NIE numbers, to make sure you are the person who owns the property and is on the house deeds.
  7. Administrator Letter, this is a letter obtained by the administrator of the property’s community which states that all your payments are up to date on the day of completion.

 

Costs Involved for Selling

3% Non-Resident’s tax – this is a compulsory tax which is fully reclaimable if no profit has been made, there is no debt and you are up to date with the tax office payments

Plus Valia – there will be a retention held which is calculated by the price of land where your property is located by your years of ownership

Agency Fees – Property Choice along with most estate agents in this area charge 5.000€ + IVA (21%) or 3% + IVA (21%) whichever is the greatest

E.E.C & Habitation Certificate – if you would like to use the architect we have together they will cost you approximately 290€ + IVA (21%)

Retention for utilities, SUMA & community – this will be calculated by the buyer’s solicitor, you will only have to pay up to the date of signing the deeds over, any extra money you paid will be transferred back to you

Legal Representative – depending on which solicitor you chose to contract to represent you this charge may vary, make sure to do some research to allow yourself the best help and deal

Reclaiming the 3% retention (optional) – if you are a non-resident in Spain and have had to pay a 3% non-resident’s tax you can claim this back after the sale has completed, it does currently take between 12-15 months to get back to you and costs 200€ to get back which will be paid to the tax office.

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