Selling property in Spain
The following is a short guide in the procedure to ensure everything goes as easy as possible when selling your property in Spain:
- When a reservation has been signed the property cannot be sold to third party, and this means that if your property is placed with other agents it must be taken off market.
- The following documents should be passed to the selling agent ASAP: (only copies)
- Purchase Title Deed
- Last paid IBI (Town Hall tax)
- Last paid Owners Community Fee
- Last paid Electricity bill
- Last paid Water bill (if it is charged separately)
- Resident Card/NIE or passports
- Private Purchase Contract is to be signed approx 2 weeks after receiving the reservation deposit. This ties up both buyer and seller, therefore you can now start preparing your removal, and apply for the following certificates that you will need when signing the Title Deed:
- If you are tax resident in Spain, you must apply for a certificate from the Tax Office (Hacienda de Málaga). If you are non-residents the buyer will be required to retain 3% of the purchase price and to lodge this with the tax office as a guarantee against your tax liability.
- From the Town Hall you will need a certificate stating any outstanding payments specially related to the IBI and Basura (annual property tax and garbage).
- Furthermore you will need a certificate from the Owners Community stating any outstanding payments.
- On the day of signing the title deed at the Notary’s Office you must be present in the Notary’s office, bringing all your original documents (Title Deed, certificates, receipts of last invoices and payments of electricity and water supplies), and very important DO NOT FORGET YOUR PASSPORTS/NIE NUMBERS and RESIDENT CARDS and off course the KEYS for the property.
At the Notary’s the Title Deed will be signed, and you will receive the remaining payment, and finally the keys will be handed over to the buyer. Then the sale has been completed.