Comprehensive Guide to Selling Your Marbella Property: Costs, Taxes, and Tips | Dala Property

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Navigating the Sale of Your Property in Costa del sol: Understanding Costs and Taxes

Are you considering selling your property in Marbella? Whether you're a resident, nonresident, or a company, it's essential to be aware of the various costs and taxes associated with the process. At Dala Property, we aim to guide you through this intricate journey to ensure a smooth and successful sale. Let's delve into the key considerations you should keep in mind.

Plusvalía (Capital Gain)

One of the crucial factors to understand is the Plusvalía, or capital gain tax. Every vendor is obligated to pay it, except in cases of a sale loss. Calculated based on the duration of property ownership and the cadastral value of the land, this tax is generally manageable but requires careful consideration.

Income Tax

Income tax comes into play if you've earned income from the property sale. Different rates apply for nonresidents (24%), residents (19%, for EU/EEA citizens), and companies (25%). It's crucial to factor in all associated costs, including purchase and sale expenses, to determine the taxable income. Keep official invoices for every transaction to facilitate the process.

Real Estate Fees

Choosing the right real estate firm can significantly impact the speed and success of your property sale. In Costa del sol, vendor-paid agent fees are customary and established upfront during property listing. Remember that agents apply a 21% VAT to their fees, similar to other professionals involved in the process.

Lawyer Fees

While not obligatory, engaging a lawyer is highly recommended. Legal guidance ensures a secure and compliant sale, offering you peace of mind throughout the process.

Mortgage Cancellation Fees

If your property carries a mortgage, be prepared for cancellation fees. These may include bank commissions and notary and registry fees, all covered by the vendor.

Retention of 3% from the Sales Price

Nonresident vendors should be aware of the 3% retention from the sales price. This amount is withheld by the buyer's lawyer and later deposited in the tax office. The vendor can reclaim this amount, minus any unpaid taxes, approximately six months post-sale.

Some Q & As

Who holds the 3% when you sell a property in Spain?

Typically, the buyer's lawyer retains the 3% in their client's account, ensuring the correct finalization of the process.

Who pays Plusvalia tax in Spain?

The seller, especially if a nonresident, typically has the buyer withhold the Plusvalia amount from the purchase price.

How to Sell a Property in Spain?

1. Listing and Agent Selection: Begin by listing your property and selecting suitable real estate agents.

2. Investigate Costs: Research selling costs and taxes while estimating income tax. Hire a lawyer to represent you in the sale process.

3. Property Positioning: Ensure your property is correctly positioned online, maintaining a consistent asking price.

4. Negotiation and Contracts: Close the negotiation process with a reservation or private purchase contract, facilitated by a lawyer. Prepare for a nonrefundable deposit.

5. Notary Signing: Finalize the sale at the notary, approximately two months after the contract signing. Simultaneously cancel any existing mortgages.

6. Closing Formalities: Stay on top of taxes, costs, and changes to property contracts. A lawyer can assist with these crucial steps.

If you're ready to sell your property in Marbella and seek an excellent real estate agent, contact Dala Property today! Good luck on your selling journey.


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