The Cost of Selling
Before setting a sale price, Spanish property owners who are considering selling should be aware of all the associated costs and taxes, in order to be able accurately to calculate the net amount they will receive from the sale.The following is a reminder of the principal areas to consider.This general commentary is not intended to be exhaustive; and case-specific legal advice should always be sought.
Estate Agency Fee.
The seller usually covers the estate agency fee. The applicable percentage of the fee needs to be individually negotiated in each case. It will be determined by the nature and location of the property; its price; and the detail of the service which will be provided by the estate agent. The typical range of estate agency fees for ‘ordinary’ Spanish property sales is around 5% plus IVA.
Energy Performance Certificate.
In order to market a property for sale, Spanish property owners are legally required to have an up to date Energy Performance Certificate. If required, we will be able to recommend a local authorized certificate provider.
The plusvalía tax is based on the increase in the value of your land from the date you bought it to the date you sell it and it is calculated by your local Town Hall.For an indication of the amount of plusvalía tax you are likely to have to pay, you need to go your local Town Hall with your Escritura (Deeds) and an IBI receipt for your property. They will be able to tell you the tax accrued if the property was to be sold on that date. So, it is always essential to have a clear idea in advance of the Plusvalia which will be payable on a sale.
Community Administrator Certification.
It will ordinarily be a term of the sale that the seller pays all outstanding community charges up to the date of completion. This is confirmed by the provision of a Community Administrator’s Certificate, which the seller procures (and pays for). The charge for the provision of this certificate typically ranges from 50-100 Euros.
Capital Gains Tax.
When you sell your house you will need to pay tax to the Hacienda or tax office for the profits you will have made on the sale of your house. The amount you pay and how you pay them will depend on which of the following categories you fall into.