All information contained within these pages is intended as a guide only and should not be considered as authoritative legal, tax or financial advice. One of our Trusted professionals can assist you with definitive answers to your questions.

Please see below a guide check list of documents that are required in order to sell your property here in Spain:-

• Original NIE documents
• Escritura (Title Deed)
• Cedula Habitabilidad (Habitation licence)
• Last original SUMA bill that you have paid.
• Copies of all utility bills for Electric, Gas and Water.
• Certificate from the Community of Owners (if applicable)
• EPC Certificate

Please note that if you do not intend to be present in Spain for the signing of your property that a Power Of Attorney will need to be handed over to either your Lawyer or to the agent selling your property on your behalf.

Fees and taxes payable on completion

As a seller you would normally expect to pay:-

1) Plusvalía tax. This is a type of municipal capital gains tax charged by the local Town Hall. It is the vendor who is liable to pay this tax, however both parties are free to negotiate who pays it.

2) Capital Gains tax. This is payable by the seller and the rate and method of collection depends on whether the seller is resident or non resident in Spain for tax purposes. If the seller is resident in Spain then we will advise on a case-to-case basis as to the liability to this tax. If the seller is non-resident then the buyer will pay 3% of the purchase price to Hacienda (Spanish Inland Revenue) on account of the seller’s capital gains tax liability. The buyer will then only pay 97% of the purchase price (or balance thereof) to the seller on completion. The seller then has the right to apply for a refund of any balance of the deposited monies that may be due to him after deduction of tax.

3) If the property is mortgaged, and the mortgage is being cancelled on completion of the sale then the costs involved in the cancellation would be payable by the seller.

Contact

This page is set out to give you some understanding on what to expect when buying a property in Spain. When setting your budget for your new purchase it is important that you build in the costs associated with buying a Spanish property, which currently equates to approx 13% of the selling price. Please find below a guide to the costs involved. It can be a daunting experience when buying in a foreign country but please be rest assured that Citrine Real Estate are here to help you every step of the way during the process in Spain.

Costs

Resale Purchase tax - When purchasing a resale property the buyer is required to pay the transfer tax which is currently 10%.

New-Build Purchase Tax (IVA) - 10% tax payable of the declared value as per the terms of the contract.

Stamp Duty - Payable when purchasing a new build property at around 1.5%.

Notary Fees - Preparing the Escritura, registering the title. (usually between €550-€900)

Land Registry Fees - To register the property at the relevant Land Registry Office. (usually between €150-€600)

Plus Valia - Tax levied by the Town Hall in accordance with Spanish Law. It is the vendor who is liable to pay this tax, however both parties are free to negotiate who pays it.

Additional Costs - You will have the fees from your lawyer and if you are taking out a mortgage you will also have these fees to pay. Please note that your costs will be higher when obtaining a mortgage and that you mortgage advisor will be able to give you a full breakdown of costs.

Process

NIE - To buy a property as a non-resident in Spain you must obtain a fiscal identification number, known as an NIE number and open a local Spanish bank account

Notary - All property transactions in Spain must be approved by a registered Notary who are a legal representative of the Spanish government. It is only the Notaries who can register you as the rightful and legal owner of a property in Spain's Land Registry. They do this after witnessing the signing of the Escritura (the deeds) by both the buyer and the vendor and after ensuring that all associated and relevant taxes and payments have been paid.

Once you have found your dream home in the sun and the price has been agreed it is standard practice that a reservation contract is signed and the property secured with a reservation fee which is usually €3000-€5000. This fee forms part of the price paid for the property and here at Citrine we always recommend that where possible any fees/deposits are held by a lawyer and not an agent.

The next step is to draw up a contract which will give a completion date. This date will differ to suit different needs but if the completion date is going to be longer than 4 weeks then it is usual practice to make a further payment of around 10% of the purchase price as security.

During this period your independent lawyer will perform due diligence on your chosen property and Citrine Real Estate will liaise with the lawyers and notary who will draft the required paperwork. On the actual day of signing both parties and their lawyers will be present at the notary along with a representative from Citrine Real Estate. If there is a mortgage on the property then it is usual practise for a bank representative to also be present. It is here and at this stage that the remaining balance is paid.

Please take a look at our Trusted Professionals page to help you every step of the way with the purchase of your new place in the sun.

Most vendors ask agents "What can you do differently to sell our property?" Here at Citrine Real Estate apart from a Fresh Thinking out of the box approach we like to be honest and transparent and can deliver the following:-

• A proactive approach to marketing & advertising not a reactive one.
• A professional and reliable service.
• Excellent communication and feedback throughout the selling process.
• A strong internet presence.
• Transparent and fair commission rates
• Regular reviews & honest opinions if anything needs to be changed or improved.

If you are interested in selling your property through Citrine Real Estate please complete the following form.