Why sell with us
- You deal with us directly, from the first visit to the day you sign at the notary.
- We visit you at a time that suits you, talk through what you want and take the photographs of the property ourselves.
- Your property is listed on our website with our own reference, and we describe it accurately to buyers.
- We only show it to people whose requirements it meets, and we accompany every viewing.
- We keep you updated as things progress, and we can recommend a lawyer to handle the legal side.
- Our fee is agreed with you before we start marketing.
What you will need
- An energy performance certificate. It is required before the sale completes at the notary.
- Your title deed (escritura) and your NIE.
- The last IBI receipt, and up-to-date electricity and water bills.
- A certificate from the community of owners that your fees are paid up to date.
- If there is a mortgage, the bank's statement of what is owed, so that it can be cancelled at completion.
The costs involved in selling property in Tenerife
These are the main costs a seller in the Canary Islands should plan for. How much each one comes to depends on your circumstances, so ask your lawyer or tax adviser for figures before you agree a price.
Plusvalía municipal
A town hall tax on the increase in the value of the land since you bought. It is the seller's cost; if you are not resident in Spain, the buyer pays it to the town hall for you and keeps the amount back from the price. There are two ways of calculating it, one based on the cadastral land value and how long you have owned the property, the other on the actual gain shown by your purchase and sale deeds.
Tax on the gain
Any profit on the sale is taxed in Spain. If you are tax resident in Spain, the gain is taxed with your other savings income, and exemptions can apply in some cases, for example on a main home. If you are not resident, the gain is taxed at 19%.
The 3% retention for non-resident sellers
When the seller is not resident in Spain, the buyer must hold back 3% of the price. It is a payment on account of the tax you owe on the gain from the sale (capital gains tax for non-residents), so it is deducted from that bill. If it is more than you owe, you can claim the difference back by filing a return; if it is less, you pay the balance.
Cancelling a mortgage
If there is a mortgage on the property, it is paid off at completion. The bank may charge an early repayment fee, and removing the mortgage from the Land Registry has notary and registry costs.
Notary and other costs
You pay notary fees, the cost of the energy certificate, any bills and community fees due up to completion, and your lawyer's fee.
General information, not tax advice. Buying instead? See the buyers guide.
Questions sellers ask
Do I need an energy certificate to sell my property in Tenerife?
Yes. It is required before the sale completes at the notary.
Who pays the plusvalía when I sell?
The seller. If you are not resident in Spain, the buyer pays it to the town hall for you and keeps the amount back from the price.
I am not resident in Spain. Is tax held back from the sale price?
Yes. The buyer holds back 3% of the price as a payment on account of the capital gains tax you owe on the sale. If it is more than you owe, you can claim the difference back; if it is less, you pay the balance.
How do I start?
Email us, or send the details with the form on this page. Tell us where the property is and a little about it, and we will arrange to come and see it.
What sellers say
I know how difficult the situation was with the buyer needing to sign an escritura and you only having 8 working days to get everything organised. Also without your help in recommending the right lawyer to work on the legal papers and yourself we would never have achieved the signing of the Escritura in time.
Thanks for all your help, I think you did an excellent job and you were very thorough and professional.