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21 -October -2019 - 09:37

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SELLING YOUR PROPERTY IN SPAIN

Taxes, information and some obligations as seller:

First of all, it is important to know if you are considered fiscal resident or non fiscal resident in Spain.
The fiscal law for a non residents seller obliges the buyers to keep the 3% retention from the total selling price to pay it into the tax office. This is because in case that you have a capital gain, as you are non resident in Spain, the payment of the tax will be guaranteed.

In case you are resident, it is needed to obtain a fiscal residence certificate to be recognized as resident in Spain. On the next year Income Tax, the capital gains you could obtain with the selling the casa-prefabricada-modernahouse will be declared there.

Real State commission?

In case there was any real state agent involved, you should tell us how much their commission is and how are going to pay them. Check with your real state agent about their fees for the commission. That commission, which should be invoiced by them to you, can be paid by bank cheque, in cash or transfering the money to them.  As you know, producing a bank cheque or transfering the money may have a little cost so you would need to discuss the cost of it with your bank.                                                               

The commission for the real state agent can also be reflected as retained in the title deed, then at the signing moment, the comission is not being paid to you by the buyer because they are paying this directly to the agent in your behalf, but in this case, the real state agent should contact us in order to prepare some paperwork to authorize you to pay them by this way.

There is a local tax that the seller (you) needs to pay, the PLUSVALIA tax in Suma office. In order to explain you this tax, when a person is selling his property, this tax has to be paid in the Suma office calculated over the increasement value on the part of the land that your home is "ocuppying". The total cost of this tax is calculated by the last IBI tax bill from Suma that you received. We would need you to bring us the paperwork required at the bottom in order to give you the figures for this tax.

IMPORTANT: The buyer could be retaining you this plusvalia tax amount from the selling price in order to pay it in your behalf as this is obliged when you are non resident.

 conveyancing-property-lawyers-keys
Another cost for you is going to get some certificates like the Community Debts Certificate from your Administrator in order to check about possible debts with your urbanization comunnity. We will apply for it in your behalf and will give you the bill from the comunnity administrators for this certificate which has to be added in the notary appointment day. The cost of this certificate depends on your Community Administrator.


Capital gains tax. As we told you at the beginning when you are selling a property you have to declare the capital gains tax and pay the 19% on the gain you obtain with the selling. We can be assisting you to apply for a refund of the 3% retention the buyers are going to pay in your behalf to the tax office in case you are non fiscal resident and you are not having a capital gain enough to pay the full tax retained. 

You have the option to produce a Power of Attorney for giving us the authorization to sell the property in your behalf, in that case we will go to the notary by ourselves and once the deal is done we will be putting the bank cheque with the selling money in your bank account. 

Do I need anything else?

VP Advisers can assist you to obtain required documents like the energy performance certificate, occupation licence (habitation certificate) and/or any other required.

Cost of this process

Visit us and we will explain in a clear way about the costs, taxes, and fees involved. You will check by yourself that we have one of the most competitive prices in the South Costa Blanca area.