A complete guide to selling your property with Spanish Property Invest.
There are so many questions that people ask, but one of the main ones is: “If your agency was to market our property, what will you do for us?” The answer is amazingly simple. We will execute for you a first-class professional service. We will arrange to come and visit the property, give you a valuation based on the current market prices of what you can expect to achieve and to take a portfolio of photographs to use in the advertising of your property. With the current changing markets worldwide and how people search for properties we now offer a Muliti Media marketing service where we use many International Portals and Social Media. Plus, we work alongside over 200 other agents to get you the maximum exposure. We give you regular updates on viewing and interest on your property plus instant feedback of any viewings that have taken place. We offer a very personal service in selling your property. Listed below is a checklist of the paperwork needed to sell your home:
Property sale Checklist:
- Copy of the Title Deeds/ Plus the Original Deeds for the day for the Notary.
- An upto date Habitation Certificate (Cedula de Habitabilidad).
- Receipt of the Suma Bill paid up to date.
- Name and contact details of your Legal representative.
- The last electricity bill.
- The last water bill.
- Certificate from the Administrators of the community that all the fees are paid up to date.
- Home Energy Efficiency Certificate known as C.E.E.
If you have had any extensions made to the property or you have added a pool you will also nee:
- A License from your Townhall (Ayuntamiento) for work done
- Project for the pool.
- Written authorisation from the Administration company and the president of the community
- A revised copy of your Escritura (Deeds) for all added projects. All changes to a property must be listed on the deeds and also at the land registry office.
What are the costs that you will incur?
- Agents Commission
- Lawyers/Fiscal representative fees
- Plus Valia (Tax given to you by your local Suma office) A local tax based on the increased value of the land which the property occupies. The correct amount can be given to you by your local Suma office
- SUMA must be paid up until the end of the year. There will be a retention taken to cover this amount if needed
- Mortgage cancellation fees, if you have a mortgage. With most banks this will be between 0.5% to 1.5% on the remaining balance of the outstanding mortgage. Please take Note: It is important to ensure that the mortgage is cancelled at the Notary and Land Registry offices. Which may cost you between €400 to €1000
- Non Residents Tax: for NON-FISCAL residents in Spain 3% retention (of the selling price) will be taken upon completion of the sale. This sum is to be paid directly to the Hacienda (The Tax department in Spain) To be exempt from this tax retention you must be a Fiscal Resident in Spain and provide an up to date RENTA for all the people named on the escritura (Title Deeds). If no money is owed to the tax authority your fiscal representative/lawyer can apply for a refund after the sale has completed.
- Capital /Gains Tax: Tax Payable on the difference between the current declared value on the escritura (Title Deeds) and that of the sale price. If you have owned the property for more than 3 years and are putting re-investing all the monies back into another residence, then you could be exempt from paying Capital Gains Tax.
We have also written a 17-point list of Staging your property to help you market your property for selling. Click on the link for more information.