Frequently Asked Questions

In preparation to list your property for sale with an estate agent. It is important that you have the following information ready:

The Finca number which is on your property deeds. The Catastral number of the property.

Your NIE or DNI number.

A copy of the last IBI payment so agent can list exactly what the properrty taxes are per annum on your property.

The amount you pay in community fees if the property is within a community.

A valid Energy Certificate no older than 10 years.

Items which help also are the latest bills of water, electricity, gas and internet as this will help any future buyer know what will be the general cost of upkeep of the property they are buying.

Any property for sale needs to be up to date with property tax payments at the time of sale and only properties which are clear of all depts and liens can be completed in Notary.

This question depends on number of factors.

Any property with a mortgage will have to have it paid off and cleared before completion and this also includes that it is cleared from the land registry also. This means that although you pay off the mortgage with the bank you will also have notary and land registry fees to clear said mortgage from the registry.

Plusvalia is a taxes levied by the local Town Hall which calculates the appreciation your property has had since you purchased it. This is a tax that is reponsibilty of the seller on sale of the property.

Capital gains tax: There is a flat rate of 19% paid on profit made by a non-resident selling a property in Spain. However residents have a sliding scale system where by percentage goes from 19% to 26% depending on the amount of profit. Speak to your estate agent to get exact details.

Legal Fees: It is always recommended that you use an independent lawyer when buying or selling a property in Spain. Fees can be agreed but general rule is up to 1% of sale price.

Estate Agency fees: Normal estate agency fees run from 3% to 5% of the sale price.

Energy Certificate: If you don’t already have an energy Certificate you will need to get one done and this has a cost depending on the size of the property of €120 to €300.

Once your estate agent has found you a buyer and you want to accept the offer tabled it is important to know the following.

On agreement of sale price the buyer normally signs a contract of sale, which will define all the terms and conditions of the sale and expected completion date. At this stage the buyer will deposit normally 10% of the sale price into the sellers account to take the property off the market. If the buyer backs out for no apparent reason they forfeit the full deposit. However if the seller backs out they are liable to pay double the deposit back to the buyer.