So you have decided to sell your Property, first find an agent that will help market your Property and find a buyer for you.
You’ll need the following documents:
- The title deeds to the property
- Receipts for the local municipal property tax (IBI/Basura)
- Copies of utility bills
- Details of the community statutes
- A list of any items of furniture etc which will be included in the sale
- Your residencia card if you have residency status
An idea of the costs involved
- Agency commission
(between 3%-6%) - Capital gains tax
(variable 19%,21%,23%) - Income Tax Provision (Retención
(3% non-residents only)
If the seller is not a Spanish resident he has to pay a 3% income tax provision or retención in Spanish which goes directly to the tax office to cover any taxes resulting from the sale. However, the seller can claim for a refund if he believes that his tax liability is less than 3%.
- Energy certificate
(between 100-500 euros) - Plusvalía
The plusvalía is a tax over the increase of the value of the ground the property is on. This is paid to the local town hall. The plusvalía is calculated on the basis of 3 factors: The period of ownership, the location of the property and the cadastral ground value.
The plusvalía tax can easily be requested at the town hall where the property is located.
By law, the plusvalía tax should be paid by the seller and it can be a substantial sum of money. Nevertheless, the plusvalía can be paid by the buyer if he has agreed to it.