Thinking of selling a property in Spain but living abroad?
In this post we recommend a safe, profitable way of selling up without need of any complicated travel arrangements.
When the vendor does not reside in Spain we recommend:
- Signing a power of attorney giving authorisation to a professional living in the place of sale
- If the vendor is not Spanish and does not have a NIE or this needs to be updated, we will carry out this service for you at the police station;
- Before beginning this process, inform yourself about the taxes in which you may incur.
A foreign citizen who wants to sell property in Spain has the same rights and obligations as a Spanish citizen.
In this post we focus on the importance of signing a power of attorney, which will allow you the freedom of selling your property safely, without leaving your country of residence.
We consider legal planning and organisation to be of the utmost importance so as to make the sale successful.
Therefore, that´s how we work with all of our clients.
Power of attorney: The most common way of selling a house in Spain from overseas.
A power of attorney allows an independent lawyer to be in charge of the management of the sale.
This is the most intelligent way of managing your legal dealings from abroad: delegating the necessary legal procedures of the sale in a trustworthy expert situated in the same area as the property you wish to sell.
This is why signing a power of attorney is very much recommended in situations in which it is difficult for the vendor to travel to the location of the property.
A power of attorney is a specific power which allows an independent lawyer to carry out certain procedures. Some of the most common procedures include:
1. Selling personal moveable and immovable property in Spain
- Sale of indivisible property rights of your assets situated in Spain
- Transfer of assets in exchange of maintenance payments, property of the grantors are situated in Spain
- Cancelation of mortgages
- Reception of payment receipt;
- Payment of taxes
- Handing over possession of the sold property
2. Buying moveable assets in Spain
- Signing of the purchase contract and deeds with the Notary;
- Making the respective cash payments, in advance or on a payment schedule
- Constitution of real guarantees and personal securities (including mortgages or defeasance clauses) should they be necessary
- Payment of taxes
- Giving and receiving receipts of payment and payment letters
3. Declaration of new constructions, grouping of plots and segregations
4. Inscription of property in the corresponding Property Register
- Payment of the necessary taxes, fees and expenses;
- Appeals against tax liquidations should this be necessary.
5. Payment of urban and rural property tax, as well as municipal taxes
6. Signing of contracts with water, electricity, gas and telephone companies.
7. Foundation of companies in Spain
- Contribution of funds, including funds consisting in property
- Signing of all documents and records necessary for the previous processes.
8. Petitions of permissions and authorisations of all types
This list includes some of the procedures which we typically carry out for our clients. Such procedures can be further limited or expanded according to the specific case.
Sell your house in Spain and receive the funds in a safe manner.
The transfer of the funds is conducted through a Notary. In this way you receive the funds securely and in a reliable manner.
If you find yourself in this situation, contact us. We speak English, German, French and Spanish.