Selling a Property

  1. Capital gain is due on the sale of the property. The tax is calculated as the difference between the value of the property at the time of its acquisition and the value at the time of its sale. The tax rate is 21 % for both non-residents and residents.
  2. If the vendor is a non-resident in Spain, the purchase will need to retain 3% of the purchase price and pay it to the Tax Office Treasury on account of the potential liability to Capital Gains Tax. Your lawyer will inform you about existing exceptions. If you have no benefices on the sale, you can ask the Tax Office to refund this 3% (or a part of it) retained.
  3. Plus Valia: This is a Municipal tax paid on the increase in value of the land since the previous sale and is fixed by the local Tax Authorities. It is calculated based upon the size of the land. By Law, the vendor is obliged to pay this tax.
  4. Lawyer´s fees.
  5. Real Estate commission
  6. Mortgage costs. If there is a mortgage on the property, you must consider the bank costs for the cancellation of the mortgage and the notary and registry fees.