How much will it cost to sell my property?
There are four cost elements involved in selling your property:
Energy Efficiency Certificate
It is a legal requirement to have commissioned an EEC before marketing your property unless it qualifies for exemption either because it is an isolated rural dwelling of less than 45 m2 built or because it is inhabitable and being sold for renovation. There are a number of architects offering the service and we can organise on your behalf if you wish.
Estate agent commission
Half of our commission becomes payable once you sign a contrato privado and the remaining half when you complete the sale at a Notary. Our commission is charged as a percentage of the sale price.
Notary’s fees
According to Spanish law the seller pays approximately 60% of the costs of the Notary and the buyer pays approximately 40%. However, this is open to negotiation between the parties.
Plus Valía
This is a municipal tax based on the value of the buildings and the length of time that you have owned the property. It does not usually amount to very much money.
Are there any additional marketing costs?
We do not charge any further costs for marketing, advertising etc.
Do you ask for exclusivity in marketing my property?
Not normally, unless we jointly agree to this, in which case the commission rate is lower during the period of exclusivity.
What documents do I need to give you?
Before we can market your property we need the following:
- Escritura (or Nota Simple)
Your title deeds. - Latest IBI statement
The tax you pay annually to the Ayuntamiento or APAT. • Certificate of Energy Efficiency
Unless your property is isolated and has less than 45 m2 built or is currently uninhabitable and in a state fit only for renovation, you will need to commission an Energy Efficiency Certificate. We can organise this for you, if you wish. - Mandato de Venta
We have a standard document which we ask you to sign. This authorises us to put your property on the market without any cost to you and in which you undertake to pay our commission if we sell your property. - OtherDocumentation
If you have floor plans, that will help us. Also a Licencia de Primera Ocupación, Certificado de Legalidad Urbanistica etc.
Should I repair or redecorate before I put my property on the market?
You will have a better chance of selling if you clear out rubbish and unwanted furniture, not only from inside the house but around it as well. Get rid of building rubble and unneeded materials. White paint can do wonders.
Who will conduct viewings on my property and when will they occur?
Almost all of our viewings are accompanied by one of our partners. That way we can use our expertise to help sell your property.
Do I need to be present for viewings?
Not if you have given us a key or another key holder has opened up your property for us. If you are present it is better to let one of our partners do the viewing. In general buyers tend to feel more relaxed when the owner is not present. Please do not ask them about their life history or what they are doing in Andalusia, unless they themselves offer this information.
If I accept an offer will my property still be viewed?
Yes. Until you and the buyer sign a contrato privado we will continue to show your property.
When is the sale completed?
When you and the buyer sign at the Notary. Until that date you are responsible for the property and need to keep it secure and insured. You hand over the keys at the time of signing.
Will I have a Capital Gains Tax liability?
If you are fiscally resident you will be liable to declare the sale of your property in the next declaración de renta. You must prove fiscal residence at the time of sale or the buyer’s lawyer will treat you as a nonresident and retain the 3% withholding tax that the purchaser is required to retain by law. This is 3% of the declared selling price.
If I am non-resident and don’t make tax declarations in Spain?
You will suffer the 3% retention mentioned above. This is, in effect, an advance payment of capital gains tax, withheld by the buyer and paid on your behalf to the Spanish government. If you do not believe you should pay this because you have made no capital gain, there is a mechanism for reclaiming it. If you move to another country and never make a declaración de renta, it is normal that the 3% stands in lieu of capital gains tax liability, although, in theory, at some later date the Spanish tax authorities could demand that you make such a declaración.