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Is now the time when you can profitably sell your property in Spain?

It depends on your motivation to sell. Property prices in Spain, as a rule, grow - 3.7% year on year. Prices in the capital increased by 16% in the first three months of 2018, but in some regions there are, on the contrary, a slight decrease. If you are not sure that now is the right time to sell, you can rent your property.

Do I need to use the services of a real estate agent?

No, you don't. In theory, you can put your own “Se Vende” signs on your own and publish the details on an online real estate website, such as exclusiva.es, which also have English versions. Self selling property will save you commission money if you have the time and patience to show people your property. But - whether you like them or not - real estate agents have the skills, knowledge and infrastructure to relieve stress and save time selling your property, especially since exclusiva.es has a commission percentage of about 1.5%.

How to choose an agent or real estate expert?

A good starting point is to request recommendations from friends who have recently used a real estate agency or portal. Otherwise, make sure you talk to a few before choosing the one that suits you best. Look for someone with experience on behalf of people. Fees for real estate agent services can range from 3% to 6% or even higher when the market is particularly busy in more prestigious areas. Nothing prevents you from using more than one real estate agent, but if you enter into an exclusive contract, you can negotiate a lower commission. Set a deadline for any offer of exclusivity so that you are not related to business relationships that do not work. If you work with several real estate agents, make sure that they all put real estate on the market at the same price so as not to confuse buyers. Please note that on our website real estate is in great demand among foreign clients who are looking for direct contact of owners to save on commission, which allows you to speed up the sale of your property at the best price.

Notary visit

You and the buyer will have to agree on a notary, whose role is to stamp the documents, check whether all applicable taxes have been paid, and register the property in the Land Registry of Spain. Unlike your lawyer (if you have one), the notary is neutral and does not act in your interests or in relation to the buyer. The role of the notary - just make sure that everything is done correctly. Lawyers and civil servants in Spain have 3,000 notaries, and they work on a standard price list. The buyer and you (or someone to whom you have submitted a power of attorney for this purpose) must meet with the notary to view the documents. Before signing the documents, they will contact you and confirm that everything is in order. The notary will inform the Land Registry of the transaction and send them a copy of the title deed.

Be ready

To sell your property you will need:


  1. Purchase Act
  2. Municipal Property Tax Receipts (impuesto sobre bienes inmuebles or IBI)
  3. Copies of utility bills
  4. NIE number if you have a resident status
  5. List of any items of furniture, etc. that will be included in the sale
  6. Help from your bank with your full name and account number

Process

The good news is that the buyer and his lawyer or agency will eventually do most of the work. After conducting the necessary checks and satisfied with the results, a deposit agreement is being prepared (Contrato de Arras) for signing by both parties. Payment of the deposit (usually 10% of the agreed sale price) guarantees each party the commitment of the other party to the transaction and indicates the date of purchase. If the buyer refuses, he loses his deposit. If you, as a seller, refuse to take an obligation, you may be forced to pay your potential buyer double the amount of the deposit as compensation.

The closing of the transaction takes place in the form of a meeting at which you, the buyer, and legal representatives must attend. If you are unable to attend, you must provide a power of attorney to the legal representative so that he can do it on your behalf.

Costs and fees

As a seller, you need to rely on payment:


  • The commission of a real estate agency (usually from 3 to 6%) and on the site exclusiva.es 1.5%!
  • For the certificate of energy efficiency (from 150 to 500 euros)
  • Capital Gains Tax if you sell more than the price you originally paid (see below)
  • Plus Plusvalía tax (see below)

Capital gains tax

Capital Gains Tax (CGT) is actually a tax on the income you received on your home - the sale price minus the amount you paid for it. Costs associated with its sale, such as the real estate agent's fee, can be deducted before settlement. There is also an annual premium, which is calculated by the tax inspectorate. CGT ranges from 19% to 23%.

You can be exempt from paying CGT if you have lived in Spain for three years, and you reinvest your money from selling your home to another house (where you will have to live for the next three years). This house can be in any EU member state.

Plusvalía

Plusvalía is a local municipal tax, calculated on the basis of the estimated or “cadastral” value of the land and the number of years that have passed since its acquisition. The seller is usually responsible for paying plusvalía, which is a relatively modest sum of several hundred euros.

Taxes for non-residents

If you are not an official resident of Spain, the buyer must send 3% of the purchase price to the tax authorities upon completion of the sale. This will be credited to any taxes you must pay in relation to capital gains taxes. You need to pay any balance within 30 days from the date of sale, or you can apply for a refund if necessary.


Learn more about how to speed up the sale of your property here!

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exclusiva.es is a real estate portal marketplace kind where owners of real estates in Spain as individuals, professionals, companies with exclusive sales rights and banks can publish ads for sale, rental and services related to real estate market so that other users can search and find ads with real estates for purchase and rental or ads with services to directly hire real estate professionals for other operations such as management of purchase-sale and rental, cleaning, transport, renovation, construction and other services.