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Selling Your Property in Tenerife
Are You Thinking of Selling Your Property in Tenerife?
If so, then it is just as important to find a good estate agent to sell your Tenerife property as it is when you want to buy a Tenerife property. When selling your property in Tenerife be aware that the Tenerife property prices are currently very competitive and, while there is still the odd bargain to be made for buyers, you should quite easily make a profit on your property. Tate Properties have a wealth of experience in buying, renting and selling Tenerife properties, so if you are thinking of selling your property in Tenerife contact us today for a no obligation discussion with one of our friendly staff or complete our online enquiry form.
At Tate Properties we believe in matching the right property with the right property buyer from the beginning. This means that we go to great lengths to ensure that before we present the property you want to sell to a prospective client, we will have already spoken with them and are sure that it meets all of their needs which saves everyone involved a lot of time and trouble.
Since the advent of the Internet, selling a property has never been easier. The internet offers an enormous amount of possibilities and new routes to match all prospective homebuyers with your home. All good estate agents offer a website service that allows people to browse through their property database online. At Tate Properties we offer a wide range of properties for sale and rent throughout Tenerife that you can browse through them in your own time.
There are two things that you need to bear in mind when selling your property in Tenerife:
- The Seller's tax liability
- The tax deposit on non-resident property sale
The seller's tax liability
As the seller you are responsible for the capital gains tax payment, though normally the buyer will agree to pay it. This payment is the Spanish municipal tax on the increase in the value of the land, not in the property, since its last recorded transfer. This tax must be paid within 30 days from the signing of the sales deed.
Tax deposit on non-resident property sale
If you are a non-resident wanting to sell your property in Tenerife, you will have 5% of the sale price withheld by the buyer which will be deposited with the Spanish Tax Office for the capital gains tax.
Once your tax liability has been assessed, you will either have to pay more to the Spanish Tax Office or you will get a refund from the amount deposited, depending on your profit.
Find out more…
To find out more about selling your property in Tenerife contact Tate Properties today.
