Selling a property in Ibiza

Windsor & Meyers is a renowned real estate agent in Ibiza, offering exceptional services and expertise in the local property market. With our extensive knowledge and dedication, we aim to provide our clients with the best possible experience when buying or selling properties in Ibiza.

What steps will we follow to sell my property?

Here's a guide on the necessary steps to sell a property in Ibiza:

Property Preparation:

Before putting your property on the market, it's crucial to ensure it's in the best possible condition. This may include minor repairs, deep cleaning, and possibly renovations to enhance its appeal.
Property Valuation:

It's important to obtain an accurate valuation of your property. You can rely on one of our agents to conduct a free professional valuation and get an idea of the market value of similar properties in the area.
Legal Documentation:

We review all the necessary legal documentation for the sale of the property. This includes the property title, deeds, building permits (if applicable), and any other relevant documents.
Property Marketing:

We will work with you to create an effective marketing plan for your property. This may include listings on real estate portals, online advertising, direct marketing, and other strategies to reach potential buyers. We'll keep you informed!
Property Showing:

Schedule property viewings for interested buyers to see it in person. In addition to Open House, make sure the property is clean and tidy to create a good impression.
Negotiation of Offers:

Once you receive purchase offers, our real estate agent will help you evaluate them and negotiate terms on your behalf. These terms may include the sale price, closing timelines, and any contingencies the buyers may have.
Sale Closing:

Once an offer has been accepted, the sale will proceed to closing. This involves signing legal documents, transferring ownership, and exchanging funds. It's important to work with your trusted notary to ensure the entire process is conducted correctly.
Handover of Keys:

Once the sale closing is completed, you will hand over the keys to the property to the new owner. Congratulations, you have successfully sold your property in Ibiza!
Remember, each real estate transaction is unique, so it's important to work with qualified professionals and follow the necessary steps to ensure a successful sale.

 

What taxes will I have to pay?

When selling a property in Ibiza, it's important to be aware of the taxes you may have to pay.

Here's an overview of the most common taxes that may apply to a property sale in Ibiza, Spain:

Municipal Capital Gains Tax (Plusvalía Municipal): This municipal tax is applied to the increase in the value of the land from the last transaction to the date of sale. The amount of the tax depends on various factors such as location and the duration of property ownership.

Non-Resident Income Tax (IRNR): If you are a non-resident in Spain, you may be subject to IRNR on the gains made from the sale of the property. The tax rate is 19% on the profit earned.

Property Transfer Tax (ITP) or Value Added Tax (VAT): Depending on whether the property is second-hand (ITP) or new (VAT), there may be an obligation to pay this tax on the sale price. The ITP rate varies between 8% and 13% of the taxable base, depending on the value of the property transferred, while the VAT rate is 10%. Normally, it is paid by the buyer to the seller, who then settles it with the tax authorities.

Notary and Property Registry Fees: In addition to taxes, it's also important to consider the fees for the notary and property registry, which are usually borne by the buyer or shared between the buyer and seller as agreed upon in the negotiation. These fees are associated with the Stamp Duty tax.

It's important to note that tax legislation may change, and there may be exemptions or deductions applicable in certain circumstances. It's recommended to consult with our tax advisor or lawyer specializing in real estate transactions in Spain to obtain specific and up-to-date advice on the taxes you may have to pay when selling a property in Ibiza