How do you SAVE money when SELLING?

Save Money!

Here are some of our Top Tips to save money when selling your property here in Spain

1.- Agree the payment of the local rates proportionally.

You can agree to pay the local rates proportionally with the buyer. Don´t sign any contract until your Lawyer check it, as if this is not agreed in advance the seller will be charged for the whole year.

2.- Cancel your home insurance on completion.

You can get a refund from most of the insurance companies. From when the property is sold until the next renewal date you’ll normally be able to claim a percentage of the amount.

3.- Contract a Money Exchange Company.

A currency exchange is a licensed business that allows customers to exchange one currency for another.You will generally end up with more money as you’ll avoid Bank commissions and the process will also be easier.

4.- Claim your Plusvalia Tax.

Do not pay the taxes that do not correspond to you. If you have not obtained a financial benefit from the sale of your home, it is unfair that you have to pay the plusvalia tax. Did you know that you can claim this tax and thus reduce your monetary losses?

5.- Cancel your direct debits on completion.

You’ll avoid getting charged for further payments with a property that no longer belongs to you. It might sound obvious but with everything going on you might forget one. Perhaps the TV box, pool cleaner or the internet!

6.- Locate all your purchase bills and save on your Capital Gains Tax.

Did you know you can deduct the purchase expenses, such as Notary fees, Land Registry fees, Taxes, etc on your profit? This will make your Capital Gains Tax lower. Also if you can prove payment of any reforms you’ve done this can also help.

7.- Cancel your Spanish Bank account.

If you no longer require it then it’s best to close your Spanish Bank account. After the sale is fully completed and all monies transferred and finalised.