The Real Estate Market in Spain: A Destination for Foreign Investors
Selling a property in Spain as a foreigner is a relatively simple process, but it requires having the proper documentation to avoid delays and ensure a smooth transaction. Knowing the necessary documents is the key to accomplish the legal regulations and facilitating the sale.
Documents Required to Sell a Property in Spain
- Foreigner Identification Number (NIE)
○ This is essential for any real estate transaction in Spain, as it identifies foreigners to tax and legal authorities.
- Title Deed
○ The deed of purchase registered in the Property Registry is the document that proves you are the legal owner of the property.
- Energy Efficiency Certificate
○ This is mandatory for any home sale; it must be issued by a certified technician and provides information on the property’s energy consumption.
- Latest IBI (Property Tax) Receipts
○ This is necessary to prove that the property’s council taxes are up to date.
- Zero Debt Certificate from the Owners’ Community.
○ If the property is part of a community, this certificate signed by the administrator is required to ensure there are no outstanding debts.
6.Simple Note from the Property Registry
○ Document showing the legal situation of the property, including possible charges, mortgages or embargoes.
- Latest utility bills
○ It is advisable to provide the latest electricity, water and gas bills to facilitate the change of ownership for the new owner.
- Deposit Agreement (Optional, but recommended)
○ This is a prior agreement between buyer and seller where the conditions of the sale are established and a deposit is given as a guarantee of commitment.
- Declaration of Non-Residence and Tax Withholding
○ Non-resident sellers in Spain must take into account the 3% withholding on the sale price, which the buyer must pay to the Treasury as an advance payment of capital gains tax.
Conclusion: Ensure a Successful Sale with the Right Advice
Selling a property in Spain as a foreigner requires certain legal and fiscal formalities. Having the right documentation from the outset will allow you to speed up the process and avoid complications. At A&G Lawyers, we help you manage every aspect of the sale, ensuring that everything is in order for a safe and smooth transaction.
If you are thinking of selling your property in Spain, contact us and let our real estate law experts advise you every step of the way.