By Laura Kemp • 16 May 2022 • 7:07
Selling your home in Moraira. Image - Idealista
Spain is one of the most popular places in the world for expats looking to move to, for second homeowners, and even those just looking for an investment abroad.
This means the housing market in Moraira is very active. However, like with most things in Spain, having a professional to guide you through the process is one of the most important things you can do when selling your home.
From dealing with the legalities to translating for you, helping to ensure that your buyers are able to complete the transaction, and keeping your sale going within the time frame you want, a reputable estate agent is the absolute best way to ensure a smooth sale.
Moraira is one of the most popular areas in Spain and the housing market is currently booming.
Properties are worth around €100,000 for a one-bedroom apartment, €150,000 for townhouses and even up to €9 million for luxury villas.
Speak to an estate agent to get an accurate valuation of your property and move your sale forward.
Spain´s housing market is booming and many homes are selling quicker than they used to.
The paperwork process can take some time on its own, however, so expect to spend around two to three months carrying this out.
What do you have to pay when selling a house in Moraira?
1) Plus Valia – sellers have to pay a tax based on the incremental value of the land which the property occupies over the number of years you have been the owner
2) Community Fees: Make sure your Community Fees are up to date – usually, you will have to present a Community Certificate to the buyer when signing the Deed
3) IBI & Utilities – make sure your utility bills are up to date as these will need to be settled up to the date of sale. You will need to provide the original proof of payment at the signing. Sellers have to pay the IBI or Council tax for the whole year they are selling.
4) Mortgage Cancellation Fees – Your bank will most likely have from a 0.5 per cent to 1 per cent cancellation charge on the balance of your outstanding mortgage
5) Mortgage Cancellation & Registration Fees at the Notary – In addition to point 4), as a seller, you will have to make sure that your mortgage is cancelled at the Notary and Registry. This may cost anywhere from 600 Euros to 1000 Euros and is an amount that will probably be held by the solicitor to ensure this is done
6) Non-Resident Retention 3 per cent: If you are a non-resident in Spain, the buyer of your property will also have to retain 3 per cent of the Escriba Sales Price to pay to the Spanish taxman (Hacienda) on your behalf towards your Capital Gains Tax. Fiscal residents do not have any retentions made on them, but they might need to pay tax on the sale in the following year through their tax returns
7) Agents Commission – If you have used an agent to sell your property, then you will also have to pay the agent’s fees
8) Legal fees: A good legal office should prepare utility contracts, community charges and Suma invoices, speak with the purchaser’s representatives and the Notary, prepare the Notary appointment and all related paperwork, accompany the seller to the Notary and translate, calculate the 3 per cent retention, calculate and advise re Capital Gains Tax and give fiscal representation throughout the process
Selling your home in MorairaWhat documents do you need to sell a house in Moraira?
There are many documents you need when selling a house in Spain and the best way to ensure you have everything is to sell through an experienced real estate agent, who can point you in the right direction throughout the whole process.
The main documents you will need may include:
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Originally from UK, Laura is based in Axarquia and is a writer for the Euro Weekly News covering news and features.
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