When selling your property in Spain, you need to factor in "Selling Costs" as this will have an impact on the amount of money you actually have "in your hand" after completion!!  As with Purchase Costs, there is no fixed figure on Sales Costs as there are many dependent factors.  However the costs can be summed up as:

Plus Valia - This tax is calculated on the increase in the property value from the current declared selling price and the previous declared purchase price as documentd in the current Escritura.  This figure differs from Province to Province and can vary from anything between 10% and 40%.

Tax Deposit - This tax is calculated as 3% of the declared sales price of the property and will be held either at the Town Hall or with your Solicitor in your name, and can be summed up as a guarantee against any future tax liabilities you may have.  You can contact the Town Hall subsequently to ascertain whether you have a rebate or if you owe anything additional.  Be aware that if there is a deficit between the 3% retention and the amount due, the authorities will try to locate you however should there be a rebate it will be up to you to find this out as they will not contact you!  There are many factors influencing this "tax deposit" depending on individual circumstances and we would recommend all Vendors as a Solicitor for clarification of their personal tax liability.

Estate Agent Fees - This varies greatly and can be anything from a fixed fee to a percentage value of the sales value of the property.  Whatever the figure, ensure you always have the amount in writing from the Estate Agent(s) you use so you know exactly what your costs will be and there will be no nasty shocks on the day of completion.

Debts - Any debts you have on the property: mortgage; loan; or bills that are outstanding will need to be "paid up" on the day of completion.  This also includes the current year property tax which has to be "paid up".  Whilst the notary does check for debts, the Purchasers Solicitor will also perform these checks to protects his/her Clients, however, the Purchasers Solicitor is not at liberty to tell the Vendor(s) of any debts uncovered although they generally do.