Important points to take into account at the time of buying or selling a property.

Are you buying or selling a property in Spain? At Imont Legal Services we provide a premium conveyancing service at competitive prices to a wide variety of private clients. We have built our reputation on quality. As a result, we are proud to say that a significant proportion of our work in this area comes from recommendations and repeat business from satisfied clients, or from the network of close professional contacts we have developed over time.

Good planification with your solicitor and effective communication is key to successful conveyancing. We will guide you through the entire conveyance process and we will ensure that you are kept constantly up-to-date with progress.

BUYING: Once you have decided to buy or to sell a property in Spain, we will guide you through the whole process and provide you with expert advice. This will include preparing the contract to ensure that your rights are protected, ensuring that the property is completely legal, that vendor owns the land, that all the permissions and licences are in place and that there are no debts attached to the property.

As part of our services, we will prepare for you a full breakdown with all the final fees and costs of he purchase, so you will know in advance how much Money you will need to transfer to Spain for completion.

When it is time to complete we will meet you at the notary office and our staff will verbally translate the Escritura de compraventa (Title Deed) prior to it being signed by both you and the seller in the presence of a notary. We can also sign the deeds on your behalf if you decide to sign a Power of Attorney. This way it is very recommendable because it makes the procedure much easier and you will avoid coming in person to Spain on completion because we will able to complete in your name and he property will be ready for you to enjoy during your next trip to Spain.

After completion, we will take care of paying the taxes involved and arrange the Deeds to be submitted to the corresponding Land Registry for registration. We will also deal with the change of the supplies contracts and Town Hall Rates (IBI) into your name and we will arrange the direct debit for all those bills.

SELLING: Once you have made the decision to sell your property, even before offering it in the market, it is advisable to visit your lawyer, that will help you t check all the legal documents to be sure that all paper work is in place and you won´t have problems with the sale.

The documents that will be needed at the time of selling the property

  • Copy or Original purchase deed
  • Copy of NIE number and passport
  • Habitation license of the property (issued by the Town Hall)
  • Last council tax bill paid
  • Utility bills
  • Non-resident taxes paid from you purchased the property
  • Energy Certificate (CEE)
  • Certificate from the administrator of your community of owners showing that you don´t owe any payment

If you are missing one of these documents, you must ask for help to your solicitor because the buyer will expect to be provided with a copy of all of them.

Once you get a buyer interested in buying your property, the first step is to sign a private contract between the vendor and the buyer where the buyer pays a deposit to the vendor and at this time the vendor has to take the property off the market. The sale has to be done in a public document, so the completion of the deeds at the Notary's office is the guarantee that everything is legal and correct. The buyers, the bank representative (if a mortgage is required) and you (the seller) together with your lawyer (if power of attorney has previously not been done), have to meet there to sign the deeds on the day set for completion. All these documents are in Spanish and that is the reason why the law requires you to come with somebody that can translate them to you and be sure that you know what you are signing.

At the notary, the buyer pays the price of the house and the seller gives the keys to the new owner, but when the seller is a non-resident, retention of 3% of the Deed value has to be made by the purchaser to the vendor and deposited with the Tax office pending the assessment of the Capital Gains Tax. We can tell you that Capital Gains taxes for non-resident are 21% on the profit (selling price minus buying price increased in all the fees and taxes) independently of how many years you got the property. The exception is when the property is your main residence (obviously you have to be resident) and you sell it three years after buying it to buy a more expensive one. In this case you do not have to pay taxes on capital gains. If you are making no profit, our accountant will be able to claim that 3% to be refunded to you, but the Spanish Revenue requests to include in the application of the refund a copy of your non resident taxes for the last five years, because only if you are up to date in your fiscal duties with the Spanish Revenue, you will be entitled to get that refund of the 3% retention. That is the reason why we have included the copy of your non resident taxes since the purchase of the property, and we recommend you to talk with our accountant if you haven´t paid them during these years.

Finally, you , as seller, will be responsible for the Plusvalia Tax, with is a tax based on the increase of the land value from the day you bought until the day you sell, and our legal representatives we will be able to estimate the amount of Plusvalia tax that you will have to pay and take care of the payment after completion.