Selling a property in Spain.
Do you have a property or plot of land in Spain that you want to sell? It might be a good idea to have a specialized lawyer looking at your property´s documentation and your tax situation in Spain. You will prefer to have an independent lawyer going over the properties paperwork to avoid nasty surprises, reviewing deposit contracts before signing and it might be wise that a lawyer revises your tax situation with the Spanish tax office.
Another important thing is the retention that is done by the buyer when selling a property; this is a compulsory retention of 3% in the case that you are a non resident in Spain. The 3% retention it is a guarantee for the payment of the Capital Gain Tax which rate is 21% of the net profit it is made in the sale. Nowadays, in most of the cases, there is no gain involved being necessary to claim for the 3% tax refund to the Spanish Tax Authorities, a task that it will be managed by your Lawyer as a part of the sale advise.
There are many conflict cases known where the vendor is a resident in Spain but cannot provide the proof of this on time and is retained the 3%. You will need your solicitor to claim back this money for you.
Beside all that you might want the solicitor to act on your behalf because you are unable to come to Spain yourself to complete. When conveyancing the sale of your property our solicitors office in Torrevieja will take care of all steps of the sales process.
Our services include:
– Reviewing the property documentation
– Reviewing your tax situation in Spain
– Make a breakdown when you have an offer you might want to accept
– Once the offer is accepted draw a deposit contract and send property documentation to the buyers solicitors
– Negotiating the terms of the deposit contract with the buyers solicitors
– Once the contract is signed, preparing the conveyance at the Spanish notary
– Arrange with the buyers solicitor the financial part of the completion
– Attend at the notary with advice and translation or on your behalf with a POA
– After the completion, cancelling direct debits and making sure that utility contracts are changed by the buyers solicitors
– Claiming taxes that were retained by the Spanish tax office
Not included in this service:
– Cost for a power of attorney, notary fee and official translations.
– Court representation
The skilled staff of our solicitors office will make sure that you sell your property without worries, take all juridical and fiscal work out of your hands and attempts to get you the most benefit from the sale as possible.
Do you have plans to sell or do you have a buyer for your property, please feel free to contact us for a quote on our services. Come and meet us in our office or leave your name and telephone number here and our solicitor will call you to explain what we can do for you.
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