Property for sale by owner in Spain

There are several reasons why Spanish property owners sell their properties. You may be selling your Spanish property because you no longer use it, because you bought it as an investment and now want to recoup your investment, or because you inherited it and now want to cash in on the value. Whenever you’re selling property in Spain, there are a few things to think about.

 

Is a lawyer required if I want to sell my house in Spain?

You must be present at the completion meeting to sell real estate in Spain. Alternatively, you can give power of attorney to an experienced, independent legal consultant with expertise in Spanish property law to handle the transaction on your behalf if you cannot be there.

Your independent Spanish property lawyer can save you a lot of time by coordinating with the buyer’s lawyer and answering all of their questions about the paperwork needed to sell the property.

 

How much does it cost to sell a home in Spain?

It is your duty as the seller to pay off any outstanding obligations on the property and provide an Energy Performance Certificate (EPC). You’ll also have to pay an estate agent’s commission and a municipal tax after the sale is completed.

Some liabilities, such as the IBI, may not be paid upon completion because you may not have received the payment document. It’s possible to work out a deal with the buyer to keep a percentage of the purchase price to cover the responsibility.

When selling property in Spain, if you are not a tax resident in Spain, 3% of the selling price is kept for capital gains tax purposes. If no tax is due, you may be eligible for a refund. Refunds for the 3 percent retention can be requested by calling us to assist you in obtaining them.

 

What paperwork do I need in Spain to sell my home?

When selling a house in Spain, an experienced lawyer can help you determine what paperwork is required. A copy of the sale and purchase papers; receipts for local property tax paid, copies of recent utility bills; details of any community of property owners; and your NIE number are often included.

 

How much tax do you have to pay when selling a home in Spain?

If you profit from the sale of your property, you’ll owe capital gains tax. In Spain, you’ll have to pay capital gains tax on any profit you make. Taxes in Spain will be levied on the profit at 19 percent for EU citizens and 24 percent for nationals of non-EU countries.

 

Plusvalia Municipal – what is it?

An additional local tax imposed by the municipality on the value of the land on which property is constructed known as Plusvalia Municipal. When selling a home in Spain, property owners must pay plusvalia municipal. If the seller is not a Spanish resident, the buyer will be required to keep a portion of the purchase price to satisfy the tax.

 

Tips on what to do if your Spanish home is no longer affordable.

A legal advisor can help you with voluntary repossession and talk with your lender if you have a mortgaged home in Spain but can no longer afford to make your payments.

Esalesinternational in Spain has been helping people purchase and sell property in Spain for many years.

 

We can recommend reputable property attorneys that can assist you with transactions on the mainland of Spain, the Balearic Islands, and the Canary Islands.

 

For your peace of mind, you may depend on our expertise in Spanish business culture and Spain’s legal system, as well as our ability to guide you through any possible cultural, language, and legal challenges. If you’re selling a home in Spain talk to us.

 

We will need further information about the type of property, the total selling price, the location, and if the property is charged to a third party funder or another creditor before we can provide you with a price quotation or estimate if the sale price of your Spanish property exceeds €35,000. Following receipt of this information, a quotation or an estimate will be provided to you.

 

Once a buyer has been found, a typical Spanish home sale might take anywhere from six to eight weeks to close. A free introductory consultation is available for those who plan on selling their home in Spain.

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