Tips for Spanish property sellers
1a As a non resident you will pay 3% non resident tax retention on completion.
If you have sold for less or the same price as what you purchased, you are in your right to claim this money back. This leads to another question. Did you pay your non resident income tax and wealth tax? If you have not you may find that the rebate is unlikely to be approved. Wealth tax is now no longer charged to non residents however the payment an annual non resident tax is still obligatory so make sure that you seek advice from your fiscal representative or lawyer.
1b You may have Spanish residency. That still does not make you exempt of the 3% tax non resident sales tax. In which country is your tax source? if the answer is the UK, you are fiscally a non resident despite having a residency card.
2. Most agents accept between 3-5 % commission for resales. Anymore is an invention introduced into the market by some agencies during the property boom however nowadays are not likely to get you a sale any quicker.....
3. If you want to sell for a price that is above the current market price it may be an idea to not put up a for sale sign on your property. it just makes it harder for everyone else trying to sell.
4. Take the advice of the local agent that is selling properties. They are most likely to know more than most and are more likely to get you a quicker sale. The current market however is still uneasy and means that most buyers out there are looking for bargains.
5. Before calling an agent or putting up a for sale board ask yourself the question "Is my house going to sell at this time?" If the market is demanding 200.000 euros and you need 250.000 euros the answer is NO. Either way you need to seek professional advice or wait until the market adjusts itself in your area.
6. Always use a lawyer to overlook the sale.
You would not refuse to use one in the UK........