Selling a home in Spain
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I am curious what would be the additional cost to sell a home in Spain. IE, real estate commissions, taxes, etc.
Thank so much,
DonHi Don, Thanks for your question!
We've checked in with Margaret Summerfield, Real Estate Trend Alert, to get an answer to your question. Here is her response,
The cost would depend on a number of factors – where the property is located, if the seller is tax resident in Spain, etc. The typical costs are:
1, real estate agent fees (vary from 3% to 10%)
2, capital gains tax – which can be up to 24% of the gain for a non-resident, non EU/EEA seller. Deductions are allowed, and the tax can be lower if the seller is tax resident/selling a primary residence/using the proceeds to buy a primary residence
3, plusvalia (like a municipal land tax) – this is based on the rise in value of the land the property sits on from the time of purchase to the time of sale - and is on a sliding scale based on how long the seller has owned the property. If say you have held it for up to 5 years, it’s around 3.7%
4, legal costs (around 1%)
5, You also need to pay for certificates (including an energy performance certificate), cancelling a mortgage if there is one, etc.
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