« previous next »
Pages: [1]   Go Down

Author Topic: selling property tax resident  (Read 1512 times)

0 Members and 1 Guest are viewing this topic.

Offline Davison

  • Hero Member
  • *****
  • Posts: 72
selling property tax resident
« on: October 17, 2017, 13:44. »
Hi value your opinions on selling in Spain (any hidden charges) im a tax resident selling will not need to pay capital gains as far as im aware all taxes up to date (horendous Agent fees)  and I need an energy efficiency cert, I will be be buying another property in Spain.  I heard someone had to pay an extra 5K as a land tax on selling but they were taking equity back to UK
Thanks
Logged

Offline John H

  • Global Moderator
  • Galactic Member
  • *******
  • Posts: 2,397
selling property tax resident
« Reply #1 on: October 17, 2017, 23:29. »
Our place is on the market, I had a meeting with our solicitor earlier this year.
My costs will be;
Estate agent at agreed percentages
Solicitors fees, for advice during the sale, review of sales contract, answering buyers solicitors questions, payment of plus valia, attending the meeting at the notary when the sale is completed, reclaiming the 3% retention and closing Spanish bank account €800
The solicitor has looked after all our affairs since buying the place 13 years ago and had informed us that reclaiming the 3% is a simple formality as she had 13 years of our tax returns
Plus Valia she calculates at c. €850
EPC already obtained €215
Certificate from the administrator confirming that our account is up to date €30
At our predicted sale price she calculated that we would have no CGT to pay, pity!!
Hope this helps

Regards all

John


Sent from my iPhone using Tapatalk Pro
« Last Edit: October 17, 2017, 23:35. by John H »
Logged
"If you always do what you've always done, you'll always get what you've always got."

Offline BeachLife

  • Galactic Member
  • *******
  • Posts: 900
selling property tax resident
« Reply #2 on: October 18, 2017, 00:52. »
John how are they able to charge plusvalia at 850 - thats a liberty


Sent from my iPad using Tapatalk
Logged
BeachLife

Offline Tony Gillam

  • Galactic Member
  • *******
  • Posts: 458
selling property tax resident
« Reply #3 on: October 18, 2017, 07:18. »
The bad news is that it will cost more to take Santa Pola council to court to get it back than its value. That despite a court ruling that it is illegal.
Logged

Offline John H

  • Global Moderator
  • Galactic Member
  • *******
  • Posts: 2,397
selling property tax resident
« Reply #4 on: October 18, 2017, 08:41. »
That’s the figure she calculated that SP would claim the value of the land has risen by.....I presume that there are indexed tables that are readily accessible if you know where to look, the estate agents “guestimate” had been just north of €500
As Tony says the cost of challenging it would be far higher than the bill

Regards all

John


Sent from my iPhone using Tapatalk Pro
« Last Edit: October 18, 2017, 08:59. by John H »
Logged
"If you always do what you've always done, you'll always get what you've always got."

Offline Davison

  • Hero Member
  • *****
  • Posts: 72
selling property tax resident
« Reply #5 on: October 18, 2017, 15:44. »
Thank you John put my mind at rest a bit...
Logged

Offline Alicante Holiday Villas

  • Galactic Member
  • *******
  • Posts: 732
selling property tax resident
« Reply #6 on: October 18, 2017, 18:08. »
Quote from: John H on October 17, 2017, 23:29.
Our place is on the market, I had a meeting with our solicitor earlier this year.
My costs will be;
Estate agent at agreed percentages
Solicitors fees, for advice during the sale, review of sales contract, answering buyers solicitors questions, payment of plus valia, attending the meeting at the notary when the sale is completed, reclaiming the 3% retention and closing Spanish bank account €800
The solicitor has looked after all our affairs since buying the place 13 years ago and had informed us that reclaiming the 3% is a simple formality as she had 13 years of our tax returns
Plus Valia she calculates at c. €850
EPC already obtained €215
Certificate from the administrator confirming that our account is up to date €30
At our predicted sale price she calculated that we would have no CGT to pay, pity!!
Hope this helps

Regards all

John


Sent from my iPhone using Tapatalk Pro

Just looking at the prices quoted John for your EPC and the Administrators Certificate........ an EPC should cost around €120 (maximum) and your Administrator should supply this letter for free  :-[  Also this should be supplied once you have a buyer, as otherwise it is meaningless as you need to be up-to-date at the time of sale.........
« Last Edit: October 18, 2017, 18:18. by Alicante Holiday Villas »
Logged

Offline Blue and white stripes

  • Galactic Member
  • *******
  • Posts: 671
selling property tax resident
« Reply #7 on: October 18, 2017, 18:29. »
Are you leaving us John? If you go who will take photos of all their meals in the local restaurants?
Logged

Offline John H

  • Global Moderator
  • Galactic Member
  • *******
  • Posts: 2,397
selling property tax resident
« Reply #8 on: October 18, 2017, 19:54. »
Yes, after 13 years we are ready for a change, we are spending less and less time here, we'll be looking at somewhere with warmer winters ;-)

Regards all

John
Logged
"If you always do what you've always done, you'll always get what you've always got."

Offline John H

  • Global Moderator
  • Galactic Member
  • *******
  • Posts: 2,397
selling property tax resident
« Reply #9 on: October 19, 2017, 08:44. »
Quote from: Alicante Holiday Villas on October 18, 2017, 18:08.
Quote from: John H on October 17, 2017, 23:29.
Our place is on the market, I had a meeting with our solicitor earlier this year.
My costs will be;
Estate agent at agreed percentages
Solicitors fees, for advice during the sale, review of sales contract, answering buyers solicitors questions, payment of plus valia, attending the meeting at the notary when the sale is completed, reclaiming the 3% retention and closing Spanish bank account €800
The solicitor has looked after all our affairs since buying the place 13 years ago and had informed us that reclaiming the 3% is a simple formality as she had 13 years of our tax returns
Plus Valia she calculates at c. €850
EPC already obtained €215
Certificate from the administrator confirming that our account is up to date €30
At our predicted sale price she calculated that we would have no CGT to pay, pity!!
Hope this helps

Regards all

John


Sent from my iPhone using Tapatalk Pro

Just looking at the prices quoted John for your EPC and the Administrators Certificate........ an EPC should cost around €120 (maximum) and your Administrator should supply this letter for free  :-[  Also this should be supplied once you have a buyer, as otherwise it is meaningless as you need to be up-to-date at the time of sale.........
Hi H, I got a few quotes for the EPC, all wanted more than €120, on saying that I wanted them to come when I wanted them to come, not when they chose, I am on holiday!!
Obviously I haven’t paid for a statement from the community yet, I don’t think they’ll charge me because of the work I’ve done on the community over the years, but the estate agent and solicitor told me that an administration charge was normal
I’ve got to get a buyer first!!

Regards all

John


Sent from my iPhone using Tapatalk Pro
Logged
"If you always do what you've always done, you'll always get what you've always got."

Offline Duncan S

  • Sr. Member
  • ****
  • Posts: 23
selling property tax resident
« Reply #10 on: October 19, 2017, 09:36. »
Hi John,
I notice that you are using services of a solicitor AND estate agent.
We sold our property last year through an estate agent only. They did all the spade work required and the sale went very smoothly.
I suspect you may be paying twice for many of the services which overlap.
Worth a few minutes contemplation.
Regards
Duncan
Logged

Offline John H

  • Global Moderator
  • Galactic Member
  • *******
  • Posts: 2,397
selling property tax resident
« Reply #11 on: October 19, 2017, 11:06. »
Hi Duncan, on the advice of my solicitor and subsequent visit to the bank to confirm the facts Ive turned down one sale that the estate agent may have wished to progress to get their commision,  40,000 euros in cash as part of the payment, but not mentioned anywhere on the contracts wasnt of much use to me when I cant pay it in to the bank!!
Id rather pay the solicitor and ensure its all water tight and legal.

Regards all

John
« Last Edit: October 19, 2017, 11:07. by John H »
Logged
"If you always do what you've always done, you'll always get what you've always got."

Offline Alicante Holiday Villas

  • Galactic Member
  • *******
  • Posts: 732
selling property tax resident
« Reply #12 on: October 19, 2017, 12:34. »
Wow John!

We have done many EPC's for our clients and no-one has paid more than €120, and Manuel visits at a mutually convenient time.  Also we have never heard of an administrator charging for a certificate of fees, hopefully as you say you will not have to pay for it when the time comes.
Logged

Offline Duncan S

  • Sr. Member
  • ****
  • Posts: 23
selling property tax resident
« Reply #13 on: October 20, 2017, 18:46. »
Hi John,
I thought the days of 'brown envelopes' were long gone. The practice was rife in the heady times of the early 2000's.
Our estate agent [GA Home Finders] wouldn't contemplate such goings on when we sold.
I hope you find a buyer soon and wish you well for the future.
Regards
Duncan
Logged

Offline Corporal Jones

  • Galactic Member
  • *******
  • Posts: 701
selling property tax resident
« Reply #14 on: October 20, 2017, 19:41. »
John im surprised it was only 40 thousand.
Logged
They dont like it up em !
Pages: [1]   Go Up
« previous next »