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House for Sale in Spain

We’re also here to help you sell your property, as we are experts in selling property in Spain and have many years experience in this field. If it’s the first time you’ve sold a property in Spain, then we hope our guide will help to make the selling process as clear as possible and ensure that you know your cost responsibilities as a vendor.

When you decide to sell, we advise that you sit down with your estate agent and your tax advisor and calculate what your net funds will be from the sale of your property.

Your Asking Price

The property market is extremely competitive, and it is a reputable agent’s job to help you find the right price for your property in order to get you a sale. It pays to remember that you may not always get your asking price and a certain amount of flexibility is more likely to get you a buyer than a stubborn refusal to budge on price. Sotogrande Exclusive’s expert knowledge of Sotogrande prices in the current market is one of our many strengths. We know that over-pricing is unlikely to work and we won’t suggest an artificially inflated value just to get your business. We know that over-valuing property drives buyers away.

Exclusivity

There are numerous advantages to appointing one agent to handle your sale, such as commitment, a personal service and more structured marketing techniques. It also means you don’t have the headache of co-ordinating multiple agents. However, the decision to work with one agent exclusively, or not, is yours.

Getting Ready to Sell

Look around your property and get any repairs done. Refresh a tired look with a lick of paint and think about how to present your house for sale in Spain in its best light during viewings. Don’t forget the power of delicious aromas, such as baking bread and coffee. Make sure it is as easy as possible for the agent to get access to your property. Many buyers are on holiday and can’t wait days for a viewing. Keep your property tidy and clean in case a potential buyer is looking for a house for sale in Sotogrande.

Make sure you have all your paperwork in order and have chosen a lawyer so you can act quickly. When setting your price, consider the costs attached your sale. We’ve outlined these in our sales guide below.

The information that follows is only a guide: please take legal advice from a lawyer regarding any costs attached to your property sale.

Costs

Municipal Added Value Tax (PlusValia)
The vendor is legally responsible for paying this tax, which is based on the value of the land the property stands on and the number of years you have owned the property. Typically, the tax on a small apartment is about €50 per year, whereas a villa may costs several hundred euros per year of ownership.

Community Fees

Make sure that your community fee payments are up to date. The buyer may requests a Certificado de Comunidad before signing the “escritura,” or title deeds.

Local Tax (IBI) and Utility Bills

You will also need proof that all your local council taxes and utility bills are paid in full.

Mortgage Cancellation Fee

Your bank will probably charge you a mortgage cancellation fee of between 0.5% and 1% on any outstanding balance of your mortgage.

Mortgage Notary and Registry Fees

In addition to the above, as a seller you must ensure that your mortgage is cancelled at the notary and registry. This can cost anything from €600 to €1000. The vendor usually retains this fee until the cancellation is complete: this ensures it is done.

Non-Resident Retention Tax at 3%

If you are non-resident in Spain, the buyer is obliged to keep 3% of the property value as written on the escritura and pay it to the Spanish tax authority on your behalf. Even non-resident vendors selling at loss have to pay the 3% retention tax, although if you have correct documentation and receipts you can reclaim it from the Spanish tax authority. Residents don’t face the same retention tax.

Capital Gains Tax

Finally, there is the capital gains tax, which is 21% on your profit. For non-residents, the 3% retention tax goes towards this 21%.

Agents Fees

In general, an agent’s fees for a sale is 5% plus 21% IVA. Make sure you establish the exact costs with your agent in advance.