Selling Costs

I know its been asked before but I really just simply need to know what costs I am likely to face on selling my place for 100K Euros. 

Agents fees 5%

lawyers???

Tax 3% ?????

Any help please.

PS Meant to add I have no mortgage on the property..

Why would you use a lawyer to sell a property ?  There is nothing for him/her to do.

The Plus Valir depends on the increased value of the land the property occupies (or a percentage of the land if it is an apartment) from when you bought to when you sell, so it will depend on the number of years you have owned it.  The town hall will be able to give you an exact figure.

You will (almost certainly) also have Capital Gains Tax to pay, unless you are rolling it over into another property within two years.  If you are not tax resident then the buyer will retain 3% which he/she will pay into a Hacienda account (you get the receipt) which will be held against any taxes  (CGT) for which you are liable.

Kind of agree re: using a lawyer to sell, there really is nothing for one to do, but if you are non-resident, speak no Spanish and do not want to personally attend, then there is a case for using someone, but a gestor would do. You may need soeone to assist with paying the plus valia, claiming back the 3% etc.

To clarify a couple of points: the 3% retention is, as far as I am aware, only in lieu of capital gains tax (if due), not any other taxes, such as rates (IBI). If there is CGT due, as a non-resident, the 2 year "roll-over" would not apply, as this is only applied to primary residence (which it clearly isn't if you are not resident yourself)

And the plus valia is calculated based on the valor catastral (land value) and the time you have owned the property. It has nothing to do with the sale price, and I'm not sure where the figure of €150-€200 comes from - if the property has been owned for a long time plus valia could easily run into thousands. It's easy to find out - just ask at your town hall.

Possibly, it is good to look and find a good, well priced solicitor to ensure your sale is finalised correctly and the 3% retention process is also well conducted.

In principle, the operation is a simple one, but every case is certainly different.

Solicitors are offering good prices these days. You can ask them to charge for every step separatedly instead of a percentage of the property value or a fixed fee for the whole sale.

Thanks for the helpful responses. Just to take it to the next stage I am unsure how best to transfer the money back to UK.. I assumed that the buyer at the time of sale would electronically transfer the funds to the FX company I will use who then send ££££'s to my UK Bank account. Someone told me its more likely i'll be handed a bankers draft in euros that I will have to stick in my Spanish Bank Account then FX them from there back to the UK??? That will cost as the bank will be sticking its hand in the pot....

If it's any help i transferd funds from my Spanish bank Halifax to my UK bank Halifax and it cost me nothing, i even called in every day to check the going rate, and changed it over when i liked the rate, and it was a decent rate as well, when i checked with one of these money corp companys I would have only got about £90.00 more, but no hassle via the bank.

Check with your bank, but I think it is (much) cheaper to transfer the money in batches of 50K than to transfer in one lump.

I recently sold a property in Malaga and I didn't use a solicitor. The process is fairly straight forward, unlike the UK.

However, I am experiencing problems reclaiming the 3% tax which was retained by the Buyer and paid to the tax office. I  completed the appropriate 211 form back in January. Anyone got any information as to how I can chase this money?

Greatly appreciated.