Selling your property
When it comes to property purchases and sales, there is a huge difference between Spain and or for example in other European countries. The old local way of operating is to put the property on sale with as many real estate agents as the vendor wishes. Nowadays, there are a lot of agencies looking to sign a sales contract with exclusivity.
It is not the same thing to have the property for sale and to actively sell it. We aim for an exclusive sales agreement with our clients because we work to sell your property.
We work with multiple local and international real estate agencies who may have the right buyer for your property! Even though you only sign a sales agreement with us, the property will be offered not only for our clients but hundreds of clients via our collaborators! Therefore the selling process will be as smooth and fast as possible!
Steps to start to sell your property with us:
1. Contact us
2. We will make you a free valuation of your property
3. If price and conditions are agreed we will sign a sales agreement togethe
4.A photo shooting by our professional photographer
5. The property is advertised out website and other marketing channels
6. You get your first offer, second offer...
7. and your property is SOLD!
The costs of the sale
According to local custom, the major part of the property purchase costs is paid by the purchaser (see the list of property purchase costs).
The vendor is liable to pay the commission of the agency, the tax of increased value of the land (Plusvalia) and the capital gains tax. The amount of the Plusvalia depends on the location of the property and the years of ownership.
The capital gains tax when the vendor is a non-Resident
If the vendor is a non-Resident in Spain the buyer has the obligation of retaining 3% of the purchase price as a guarantee for the payment of the capital gains tax. The buyer or his representative has to transfer this amount to the Spanish Tax Authorities. You may reclaim a refund of this 3% in case your capital gains tax does not exceed the 3% and all your other taxes are paid. Your local tax representantive will help you with this one. After approximately 6 months to a year, the surplus of the guaranteed money is refunded to the bank account of the vendor or his representative.
On the Spanish real estate market, there is a lot of misleading information saying that the 3 % deposit is entirely refunded. The amount is refunded with the above-mentioned conditions and seldom entirely.
Capital gains tax if the vendor is a foreign resident in Spain
If the vendor is a resident in Spain the capital gains tax is from 19% above (depending on the gains). He has to declare the property sale in his tax declaration and pay the taxes. If the vendor is thinking of buying a property that will be used as a permanent home, he is not taxed liable for the capital gains tax. If the vendor hasn't bought a new property for permanent living within two years, he is again liable for the capital gains tax.
