21 Jan Expenses When Selling a Property
Expenses When Selling a Property.
Today, we want to talk about the expenses you'll need to cover when selling a property.
The amounts you may have to pay can vary depending on several factors, such as the type of property, the sale price, or the terms of the transaction. There are many possibilities, so we can't provide an approximate total, but there are certain expenses you should be prepared for.
Below, we detail what these expenses are, which, as mentioned, can vary:
MUNICIPAL PLUSVALÍA
This is a municipal tax on the increase in value of urban land at the time of transfer. It must be paid within 30 business days after the sale..
CAPITAL GAINS TAX
This tax is levied on the capital gains derived from the sale of the property. These gains must be declared on your income tax return for the year following the sale.
If the property you are selling is your primary residence, the gains may be exempt from taxation in certain cases, such as:
- Sale of the primary residence by individuals over 65 years old.
- Sale of the primary residence to purchase another home.
CERTIFICADO DE EFICIENCIA ENERGÉTICA (CEE)
This document rates your home with a letter from A (best) to G (worst). Its purpose is to determine your home's monthly energy consumption and the associated cost. The certificate is valid for 10 years and must be issued by a qualified technician (architect, technical architect, etc.).
The property owner is responsible for providing the certificate to the buyer in a sale.
The cost ranges from €50 to €150, depending on the property's location and size.
OTHER DOCUMENTS
There are also other technical documents that the buyer or utility companies may request for ownership transfers, which you will need to provide at the time of signing:
- Second Occupancy Certificate
- Certificate of No Urban Planning Violations issued by the Town Hall.
- Maximum Sale Value (for subsidized housing).
These documents may be required by utility companies for the transfer of service ownership.
We hope this list has been helpful. However, if you need a professional to assist with selling your home, Arenae is here to help.
