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Taxes and expenses when selling
“  19

  JAN
Taxes and expenses when selling

What taxes must be paid after selling the house?

The taxes that are paid for selling a property are two; personal income tax and municipal capital gains.
The first depends on the profit you have obtained from the sale; the second is a tax on the increase in the value of the land since you bought the house until you sold it.

In case of loss, you will be exempt from paying both taxes.
In case of little profit, you can include all the expenses you have had for taxes, agencies, lawyer and intermediary fees, to obtain a loss and be exempt from personal income tax.
Capital gains are not exempt in case of little profit, since expenses cannot be included.

In the case of a non-resident seller, the buyer will withhold the amount of both taxes from the purchase price to pay them.

The yearly property tax (IBI), for its part, is not a tax directly related to the sale, but it will correspond to the seller, unless otherwise agreed. 
Here in Malaga we have the habit of prorating the IBI and garbage according to the date of sale, proportionally to each part.

Other expenses;

In case of selling with a Real Estate agency, the fees are usually around here in Malaga between 3% and 7% of the purchase price

In case of having a Lawyer or Agency to manage the documentation (contracts, notary, Property Registry, changes of address and direct debits) the fees are usually around 1% of the purchase price.

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