4sale

I have our property up for sale on EOS website.  Have just been asked what charges , fees etc will be charged.  We own the property so we have paid the original 10% on purchase.  Can anyone give me rough idea how much legal fees for the conveyance would cost and if there are any other fees or charges that I am not aware of. I have looked through the blogs for an answer but dont seem to get a fit - please dont ask me to contact a lawyer - I dont trust them any more - sorry if I am offending anyone.

 

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You don't need a lawyer if you are selling (IMO - some others here may disagree) - you just need to turn up at the notary and make sure you get all the money when you sign the property over. You should not incur any legal fees yourself, but you will be liable to pay the "plus valia" tax, which is a tax on the increase in the value of the land from when you bought the property, and of course you may be liable for capital gains tax. As for your buyer, their costs are their business, and if they are not aware of what they need to pay, tell them to get a lawyer, but at their expense. However, if you want to give them a rough idea of what to expect: transfer tax 7% of declared sale price, plus 1% legal costs.

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Hi Roberto sorry to disagree with you but it will cost them more than 8%.If they are buying on a mortgage it will be at least 12% of pp. Without mortgage probably be in the region of 10% once they have added on Land Registry and Notary costs and if they use a lawyer and I most certainly would not buy without one. Regarding the sell side HPMD, Roberto is quite correct you do not need a lawyer. However the CGT issue is a delicate one - the state will automatically retain 3% of the sale price as they assume you will not discharge your CGT liability if there is one. It is then up to you to submit a claim on the tax office to get that back if there was no CGT to pay. You have a limited time to do that (I think its 28 days but needs to be checked). If you are in a position to file the claim yourself all well and good - or indeed if your CGT liability amounts to more than the 3% retention you might choose to leave it be. If you never intend to return to Spain then there will be no problem if the real CGT amounts to more than the 3% but in theory they can detain you at point of entry into Spain if the tax office make a record and you get a barcode check at passport control and demand payment of the unpaid bill.

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Just to say that if you have your residencia and have been to the tax office to get the form which states that you are up to date with your taxes there will be no 3% retention at the Notary because any capital gain will be declared as income for the next tax year. If you leave Spain for good the Spanish authorities have no jurisdiction to chase unpaid tax outside Spain. I think this is correct.

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Hi Nanny Jersey you are correct they have no jurisdiction outside their borders but border controls are notified of unpaid bills hence why more immigration controls are doing barcode sweeps at passport control. It seems that at Malaga this sometimes happens and sometimes not - I always get swiped and used to think this was because I look such a dodgy character - but the more technology Big Brother has the more they seem intent to stop anyone getting away with it and I have been advised that this is something that will be implemented. Your point about the tax applies to those with residencia - if they are non resident it will automatically be retained. 

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I'm quite sure Smiley gets "swiped" at the airport because of his "dodgy" appearance (& I've never even met the guy - it's all just a rumour!).

Smiley is quite right, HPMD, I hadn't factored in mortgage costs, and the buyer will also pay land registry and notary fees. My point was only to tell you that these costs are all the buyer's responsibilty, but if you want to give them an idea of what to expect, then as Smiley says, allow 10% of the purchase cost, as you indeed say you paid when you bought.

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Thank you all for your time and advice - it is much appreciated.  thanks again

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HI HPMD.  I've replied to your pm, but I'm just checking to make sure you get it as some other pm's I've sent seem to have disappeaerd into the ether!   Let me know if you don't recieve it and I'll re-send.

Best wishes, Jane

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Hi HPMD

received your message. not sure why mine don't get through.  if another pm will get through as the last one didn't.  If you want to send your email address I'll reply straight away.

Best wishes

Jane

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