Selling a property in Spain

The selling procedure is of course the same as the buying procedure.

It is vitally important that you choose an Estate Agent with whom you feel confident. Castles is a family run business with over 25 years experience in the local market. Our success over the years is based on good, honest hard work coupled with up to date targeted marketing of the highest of standards.

The success of Castles is dependent on selling your properties.

Listing a property with Castles is free and to do so we are legally required to have the following documents:

  • Copy of the Title Deeds (Escritura) or Nota Simple.
  • Copy of NIE numbers of owners.
  • Copy of latest IBI receipt (Town Hall Rates).
  • Copy of latest Community Fees receipt.
  • Copies of latest utility bills (Water and electricity).
  • Copy of the energy efficiency certificate (Castles can arrange this).

To list your property for free please e-mail us on sales@castlesestateagency.com

REMEMBER: Listing your property is FREE. Castles only takes a fee when a sale is completed.

COSTS OF SELLING YOUR PROPERTY IN SPAIN.

There are costs incurred when selling a property in Spain. These can be broken down as follows:

Agency fees
These can be discussed when listing a property.
Legal fees
(1% +IVA) Most lawyers charge approximately 1% +IVA of the agreed sales price. Castles has an in-house service and offer a discounted rate. Fees are usually paid on completion of the sale.
Plus valía
This is a one off tax levied by the local Tax Authorities. This is based on the increase in value of the land on which the property is situated since the property was last sold. The figures are based on the rateable value of the land (Valor Catastral del Suelo) and not on the sales price.
3% Retention
(For Non-residents only.) The purchaser is obliged to retain 3% of the declared sales price and pay the funds to the Spanish Tax Authorities. This is to guard against any taxes that may be owed in Spain, including Capital Gains Tax. If the seller can prove that all taxes have been paid and there is no Capital Gains then this money can be reclaimed.
Capital Gains Tax
This is based on the net profit of a sale.
Capital Gains Tax for residents and Non EU residents is taxed at a flat rate of 21%. A resident of Spain is exempt from paying Capital Gains Tax if:
  • The property is your main residence (owned for 3years or more) and
  • The full sales price is re-invested in another property as your main residence within 2 years and
  • The new residence remains your main residence for the next 3 years.
Residents over the age of 65 and who have owned the property for 3 or more years (as their main residence) are also exempt from Capital Gains Tax.

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