Selling a property in Ibiza involves meeting legal requirements and providing the proper documentation to avoid delays or complications in the sale. At Rodríguez Tur Lawyers, we guide you through every step of the process to ensure that the property sale in Ibiza is conducted safely and without unexpected issues. Below, we outline the key documents you will need to sell a property in Ibiza.
Documents needed to sell in Ibiza
- Title Deed and Simple Note
The title deed is essential as it certifies the ownership of the property. The simple note from the Land Registry is another crucial document, detailing whether the property has any encumbrances, such as mortgages or liens. These documents are fundamental to avoid legal issues that could slow down the transaction. - Energy Efficiency Certificate
Since 2013, it is mandatory to present an energy efficiency certificate when selling a property. This document indicates the energy consumption of the property and must be issued by an authorized technician. Not having this certificate can delay the sale. - Habitability Certificate
The habitability certificate confirms that the property meets the minimum habitability requirements, which is mandatory for any sale. It is also needed to contract services like electricity, water, and gas. In Ibiza, it is also necessary if you wish to register the property for tourist rentals. - IBI and other taxes
The seller must provide receipts for the Property Tax (IBI), along with other municipal taxes and invoices from recent years. Having these documents up to date is crucial to avoid delays in the sale. The municipal capital gains tax (plusvalía) is also a significant expense that the seller must cover, and its amount depends on the land’s value and how long you have owned the property. - Mortgages and Encumbrances
If the property has a mortgage, you will need a certificate of outstanding debt. Selling a mortgaged property in Ibiza is possible, but you must agree with the bank whether the buyer will assume the mortgage or if it will be paid off. This aspect is crucial for a smooth transaction. - Coastal Law
In Ibiza, if your property is near the sea, you will need a Coastal Law certificate to verify that the house does not infringe regulations on the maritime-terrestrial zone. This document is mandatory for properties in coastal areas.
How long does it take to sell a property in Ibiza?
The time it takes to sell varies depending on factors such as location, price, and demand. In Ibiza, the average is between 3 to 6 months, but it can extend depending on the market. To sell your property quickly, it is essential to have all the documents ready and set the price according to market conditions.
What are the costs when selling a property in Ibiza?
The expenses include:
- Capital Gains Tax (Plusvalía): Based on the increase in the value of the land during your ownership.
- Income Tax on Capital Gains: The tax office retains between 19% and 28% of the profit made from the sale, though there are exceptions.
- Notary fees: Although the buyer typically pays these costs, it is important to consider that they could be shared.
When do you not have to pay taxes for selling a property?
In some cases, you may be exempt from paying taxes, such as if you reinvest the sale proceeds into a new primary residence or if you are over 65 and the home you are selling is your primary residence. A real estate lawyer can advise you on how to minimize your tax expenses.
The best time to sell a property in Ibiza
The real estate market in Ibiza experiences peaks in demand, particularly in spring and summer. However, the best time to sell will depend on the type of property and market conditions. A local market analysis will help you determine the right time.
What should I do to sell my house quickly?
To sell your house in Ibiza quickly and efficiently, it is essential to have all the documentation in order, set a competitive price, and work with a specialized lawyer. At Rodríguez Tur Lawyers, we offer comprehensive advice to ensure that the sale of your property is safe, fast, and hassle-free.
