Property in Malaga
Property in Malaga
Property in Malaga
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For a property owner who’s trying to sell a property, it´s important to use an honest, professional estate agent who’s focused and passionate about selling properties. Our friendly team is here to assist you in selling your property and we will walk you through the processes step by step.
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The expenses of selling a property and how you will pay them are determined by which your residency.
If you are a foreigner who is not living in Spain, you must pay 20% of the profit from the sale (the difference between when you buy the property and when you sell it). On the day you complete the transaction at the notary, 3% of the total amount is deducted from the final
If you are a foreigner who has lived in Spain for 3 years or more, you can prove this, and you can prove that you intend to live in Spain, you may be exempt from the regular 3%, and you only pay 20% tax on profits from sales. The main costs to consider are:
Plus Valia Tax – A municipal tax based on the official increase in the value of the property since the last transfer. The town hall will assess the value.
Mortgage redemption charges – It is common to find early cancellation fees of 1% (or more) of the value of the mortgage if a loan is still outstanding at the point of sale.
Retention Tax (only for non-residents) – If you are a non-resident seller, then the buyer will keep 3% of the property value to pay the Spanish Authorities retention tax on your behalf.
Capital Gain Tax – Capital gain tax is set at 21% on all properties that are sold at a profit from the original purchase.
Notary & Registry Fees – Notary and registry fees are generally calculated at 1% of the purchase price, although sometimes they can be considerably lower.
Estate Agency Fee – The agent’s fee will be agreed upon when first listing your property and it depends on the price of the property and the service required. – We charge a flat seller’s fee of 2% of the sold value.
We have created a list to make the process run smoothly:
Escritura – Title Deeds
Yes and no. If you have no experience selling a property, the process can be complicated and tedious. But, if you work with us, your process is easily completed in a short time with our experience and local knowledge.
This is the importance of working with a professional team. What seems difficult for many people is actually what we do every day. It is all about finding the right expertise.
The main taxes are capital gains tax and plusvalia (taxation on the property’s land). There can be additional payments depending on the type of property. For example, if your property has extra features such as a swimming pool, gardens, etc., you may have to pay community fees. We inform you about these extra fees at the first meeting.
Yes. The feared backlash of Brexit is not here. British buyers have increased a lot lately. Because the taxes and cost of living in Spain are cheaper than in most EU countries. So, you can sell your property in Spain after Brexit with a great profit.
The second occupation license or certificate is a compulsory document when selling a property in Spain. It indicates that the property is suitable for living.
Yes. Depending on your residence status, you can pay these taxes either when you sell the property or on your next year’s tax return.
In essence, the selling time of the property depends on the purchase price. It usually takes between 3 and 6 months. Regardless, we continue our marketing efforts throughout our agreement.
However, the sale of a property is not always determined by marketing. If you want to sell your property fast, the price should be cheaper than the general price range of the market. This is the biggest piece of advice on selling your property in Spain fast.
No. If you do not live on the property, you can give your key to us. We will keep you safe in our office. Our experienced agents can answer questions and arrange viewing tours on your behalf.
Our local experts will suggest the correct price for your property. Our experts get the necessary information about the location, the real value of the properties in the area, the facilities in the location, and your home features. Then, we give you a fair and accurate price.
It changes. As we understand potential buyers’ wishes and expectations, there will still be a lot of requests. But, we do not arrange a tour if buyers’ needs do not match your property. We do not waste your time with non-potential customers.
We welcome you and the buyer to our office to set the terms and sign the sales contract. After the parties sign the contract, the deposit payment is made, and the title deed applications begin.
Full payment is made at the title deed transfer. Vocal confirmation is requested from the seller before final signatures.
Yes. We have a wide variety of property types in Spain, such as apartments, houses, commercial properties, and lands.
No. But, studies show that there is a 20% higher increase in viewing tour requests when a property has signage.
Owning a home is a keystone of wealth… both financial affluence and emotional security.