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- AVVISO LEGALE
Viking is proud to officially list some of the finest and sought-after properties worldwide. Everything from deluxe studio apartments on holiday complexes in popular tourist areas, to rural cottages and fincas in the countryside to the ultimate in luxury villas with pools.
Viking will list your property free of charge, market and advertise it for you free of charge and will only redeem competitive commissions in the event of a successful sale.
Whether digitally, via e mail, chat or Zoom or more personally on the phone, our dedicated team are on hand to assist with any queries on initial valuations and realistic market trends, calculation of fees and drafting of financial contracts and purchase agreements in preparation for the sale.
Viking’s Lawyers can also arrange a ‘power of attorney’ in order to sell a property on your behalf and attend the notary’s office to complete the sale.
There are 2 main types of tax when selling a property in Spain.
These include the Plusvalia and the Capital Gains Tax.
The Plusvalia is a municipal tax payable to the local council and is based on the increase of the official value of the land/house from the date you purchased until the date you come to sell the property.
Capital Gains Tax
Capital Gains Tax is based on the actual profit obtained during the length of the ownership. All Non-residents in Spain pay 19% on the profits made when it comes to the sale.
The ITP Tax (Impuesto Transmisiones Patrimoniales) is Spanish property transfer tax which is similar to the UK Stamp Duty Land Tax and applicable in cases where the vendor is reselling a property. In accordance with Spanish law this must be retained from the purchase price and paid by the Buyer. ITP is generally levied at 7% of the purchase price.
Estate Agent Fees
The majority of agents in Spain will charge agency fees of between 4% – 6% + IVA. This amount should be calculated and deducted to be removed from the Gross sales price.
Lawyer Fees and Notary
Independent Law firms and Lawyers generally charge a fee and /or commission for the general process of proceeding with all due diligence and production of documents extending to the completion of a sale.
The fee depends on the firm and the commission is usually based on approx. 1% and upwards of the Sale price + Iva.
Mortgage Cancellation Costs
It is important to verify that once a sale has been made and the seller uses the funds to pay off any mortgage outstanding that any charges are not applied by the bank for early settlement. This can be a percentage of the amount.
Certificate of Energy Performance
Finally, when selling property, there is now a compulsory certificate in Spain which must be arranged prior to listing the property on the Market. Fines can be incurred if a client is found advertising their property for sale without this certificate.
We are ready to assist you today in your language. Please use the contact form below and a member of our team will be in touch.