What does it involve?
This procedure is one of the most common at notary offices. Basically, it's when a person sells real estate or shares in a company in exchange for a pre-agreed sum of money. In this way, ownership and all associated responsibilities are transferred from one owner to another.
In other words, the deed of sale is the official document that details the agreements between the buyer and seller and records all the conditions and agreements related to the transaction.
Finally, remember that agreements related to capital increases and reductions in a company can be requested via videoconference.
What does the buyer have to pay in a purchase?
First, they will have to pay the Property Transfer Tax (ITP) for the transaction. If it's the first time the property is being sold, VAT will apply; if it's a resale, the Property Transfer Tax (TPO) will apply. In addition, you will have to pay the costs associated with registering the property with the Land Registry and the Registry of Documented Legal Acts, which vary depending on the region.
What does the seller have to pay in a sale?
The seller will have to pay the municipal capital gains tax, which is the Tax on the Increase in Value of Urban Land (IIVTNU), as well as Personal Income Tax (IRPF) and Non-Resident Income Tax (IRPNR) if they reside outside the country.
Who pays for the deed of sale?
Who pays for the deed of sale depends on what the parties agree upon. In Catalonia, it is generally the buyer who covers these notary fees. However, in other regions, it is common for the seller to assume them.
Who pays the Property Tax (IBI) in a sale?
The IBI must be paid by the property owner by January 1st of each year. In purchase transactions, a proportional division between the parties is usually agreed upon. Therefore, if established in this way, the seller will pay the Property Tax (IBI) up to the day of the sale, and the buyer will be responsible for it from the following day.
Required Documentation
Real Estate Purchase and Sale
Property documents of the sellers.
National Identity Document (DNI) of the sellers and buyers.
Information on the marital property regime of both parties.
If a company is involved, the powers of attorney or appointment of the current directors are required.
Details of registration in the Commercial Registry if a company is involved.
For urban properties, a certificate from the homeowners' association confirming payment of community fees is required.
Cadastral reference (most recent Property Tax (IBI) receipt).
Property rental status.
Agreed sale price.
Details regarding payment of transaction expenses: notary fees, municipal tax on the increase in the value of land (Capital Gains Tax).
Purchase and Sale of Shares
Property documents of the sellers.
National Identity Document (DNI) of the sellers and buyers.
Information on the marital property regime of both parties.
If a company is involved, the powers of attorney or appointment of the current directors are required.
Articles of Association of the company in which the shares are being processed and its registration details in the Commercial Registry.
Tax Identification Number (NIF) of the company.
Agreed price for the transaction.
Details regarding payment of transaction expenses.
In what situations can this service be used?
This real estate purchase and sale service can be used in various situations, such as:
Purchase of a house or apartment as a primary residence.
Acquisition of a property for investment.
Transaction of land or plots.
Purchase of commercial properties, such as premises or offices.
Sale of a property to move to a new residence.
Inheritance of real estate.
Separation of assets in case of divorce or dissolution of the marital property regime.
Transfer of property between family members.
Sale of foreclosed or mortgaged properties.
Purchase of properties at public auctions.