How to sell your property in Spain

4 Jul 2024

Selling your property in Spain can seem like an overwhelming task, especially when it comes to navigating through taxes, fees and local laws. But fear not! We're here to guide you through the process and ensure the sale of your property on the Costa Blanca goes as smoothly as possible. 

Here's a little guide to selling property in Spain:

1. Preparation is key

Before you begin the process of selling your property, it's important to be well prepared. This includes ensuring that your property paperwork is in order and that the property is in good condition for viewing. You may want to make some small upgrades or repairs to increase the value and appeal to potential buyers.

2. Find a reliable estate agent

A skilled and trustworthy estate agent will be your best ally in the selling process. They will help you set the right price for the property, market it effectively and handle all the legal aspects of the sale. Choose an agent with experience and knowledge of the local market on the Costa Blanca.

3. Understand taxes and fees

When selling a property in Spain, you need to be aware of the various taxes and fees that may apply. These can include:

• Plusvalía tax: This is a tax imposed by the municipality and is calculated based on the increase in the value of the property since it was last sold. It's important to calculate this tax accurately to avoid surprises later in the process. 3% of the sale price is always automatically withheld.

• Capital gains tax: If you sell your property at a profit, you'll have to pay tax on the gain. This tax is usually 19% of the difference between the purchase price and the sale price of the property for European citizens. In addition, you can deduct brokerage fees, lawyer fees, taxes and fees incurred in connection with the sale. In many cases, you can also deduct expenses for major upgrades to the property. 

• Agent fee: If you're using a real estate agent to sell your home, you'll also need to take into account the agent's fee, which is usually a percentage of the sale price or a minimum price.

4. Make sure you have the necessary documentation in order

Before you can finalise the sale of your property, you need to ensure that all the necessary documentation is in place. This can include energy efficiency certificates, property registrations, and any permits or licences required by local legislation.

5. Execute the sales agreement

Once you've found a buyer and agreed on the terms of the sale, the next step is to finalise the sales agreement. This usually involves signing a purchase contract and transferring ownership to the buyer. Your real estate agent will guide you through this process and ensure that everything is done in accordance with applicable laws and regulations.

Selling your property in Spain can be an exciting but also challenging experience. By following these steps and seeking the help of an experienced estate agent, you can ensure that the sale of your property on the Costa Blanca goes as smoothly as possible.

Share