Selling property in Spain
With over 25 years’ experience supporting Spanish property sales, we know how to make the process hassle-free.
We’re here to help with the currency side, so you can move your proceeds home at a competitive exchange rate and maximise the value of your sale.
- Moving your proceeds back home
- Cut costs and delays when handling your Spanish banker’s draft
- Considerations when selling property in Spain as a non-resident
- Step-by-step selling process for selling property in Spain as a non-resident
- Tax implications and fees for non-resident sellers
- How Spain's Golden Visa changes could impact your sale
- Avoiding common pitfalls
- Support you can trust when selling in Spain
- What our customers are saying
- News and views
- Helping you send the proceeds of your sale home
Moving your proceeds back home
Selling property in Spain as a non-resident? We help you move your money home smoothly, with local expertise from sale to transfer.
Repatriate funds, wherever you are
We help manage your proceeds locally, with access to Spanish bank accounts and transfer support, so you don’t need to be in Spain when the sale completes.
Hold your proceeds in your Lumon e-wallet
After your sale completes, your Lumon e-wallet lets you hold the proceeds in euros, giving you flexibility over when to move your money home.
Access local property expertise
For more than 25 years, we’ve supported customers through Spanish property sales. Our trusted legal partners can also help you navigate tax matters in Spain and the UK.
Cut costs and delays when handling your Spanish banker’s draft
The way sale proceeds are handled in Spain can be different from what many sellers expect. Whether your funds are paid via electronic transfer or a Spanish banker’s draft, we can help make the process hassle-free.
Understand how sale proceeds are paid: While some property sales are completed via electronic transfer, it’s far more common for proceeds to be issued as a banker’s draft, a paper cheque, (known locally as a cheque bancario).
Be aware of added costs and delays: Depositing and withdrawing a banker’s draft into a Spanish bank account can lead to extra fees and slow down the process of moving your money home.
We’re here to help you manage this efficiently, saving time, hassle and unnecessary costs.
Considerations when selling property in Spain as a non-resident
Setting your price: Price with purpose. Think about what you paid and your desired return when setting your selling price.
The exchange rate: Moving money back to the UK? Even small currency shifts can impact how much you bring home.
Spanish banker’s draft: Some property sales in Spain use a banker’s draft rather than an electronic transfer to process the sale.
Your timeline: Property sale times vary depending on where you’re selling in Spain.
Step-by-step selling process for selling property in Spain as a non-resident
1. Find a buyer
Once your property is listed, work with a local estate agent to attract buyers. Make sure your documents are in order and be prepared to negotiate based on market conditions.
2. Prepare your documentation
Here’s a list of documentation you should prepare so you’re ready for your Spanish property sale:
Title Deed (Escritura Pública): Proof of legal ownership of the property.
Nota Simple: Land registry extract showing property details, debts, and ownership.
Energy Performance Certificate (EPC): Required for all property sales in Spain.
NIE Number: Required for all non-Spanish individuals involved in the sale.
Proof of IBI (property tax) payments: Confirms that local property taxes are paid and updated.
3. Legal and Financial aspects
You’ll need a bilingual lawyer to review contracts, handle taxes, and ensure all legal requirements are met. Don’t forget to factor in notary fees, capital gains tax, and any outstanding local taxes.
4. Finalise the Sale
When the sale is agreed, both parties will sign the contract in front of a notary. At this stage, non-residents often receive the proceeds as a banker’s draft, a paper cheque issued by the buyer’s bank.
5. Process the Spanish banker's draft
Unlike electronic transfers, a Spanish banker’s draft must be deposited into a Spanish bank account, which may involve extra fees and delays. At Lumon, we process the draft on your behalf, saving you time, hassle, and charges from foreign banks.
6. Exchange the proceeds back into your home currency
Once the funds are cleared, we help you move your money back home. Our currency specialists monitor exchange rates and provide expert support, so you get more from your sale in your own currency.
Support you can trust when selling in Spain
Our currency specialists make moving your sale proceeds simple. With years of experience helping clients repatriate funds from Spain, we’ll ensure your money is transferred securely and at a competitive exchange rate.
Bank-beating exchange rates* and no transfer fees
Cared for over 70,000 customers since 2000
Award-winning service
International property specialists
Tax implications and fees for non-resident sellers
Key tax and cost considerations to be aware of if you’re a UK resident selling property in Spain
Witholding tax paid at the point of sale
When a non-resident sells a property in Spain, 3% of the sale price is withheld by the Spanish tax authority. This is not an extra tax but an advance payment against any capital gains tax owed.
If you’ve made no profit, or less than expected, you may be able to claim a refund, but it must be done within four months of the sale.
Capital gains tax and deductible costs
If you make a profit on the sale, you may be liable to pay capital gains tax. The standard rate for non-residents is 19%. However, certain costs, such as notary fees, agent commissions, and eligible renovation work, can be deducted from the taxable gain.
It’s important to keep records of these expenses and submit your return within four months of the sale.
Other tax considerations
You may also need to pay Municipal Plusvalía Tax, which is based on the increase in land value during your ownership. In some cases, you could also be liable for UK Capital Gains Tax, depending on your personal tax situation.
Speaking to a qualified tax adviser can help you understand your full obligations to tax authorities both in Spain and at home.
Legal costs
Hiring a lawyer is highly recommended, especially if you’re selling from abroad. They’ll handle the contract, coordinate with the notary and make sure all paperwork is in order and compliant with local tax law.
Percentage of sales price: Legal fees vary, but are typically a small percentage of the sale price, depending on the complexity of the transaction.
Agent commissions
If you sell through an estate agent, you’ll usually agree the commission upfront, and it’s only paid once the sale completes. Some agents may also charge VAT, so it’s worth confirming the total cost early on.
Percentage of sales price: Commission rates range depending on the estate agent.
Notary fees
A notary is legally required to oversee and finalise the sale. Their fees are calculated based on the value of the property and the complexity of the contract and are set by law and follow a standard scale across Spain.
Who pays: While buyers often pay the bulk of notary costs, sellers may still cover a share, particularly for specific services or if agreed in advance.
How Spain's Golden Visa changes could impact your sale
The Golden Visa Programme previously allowed non-EU buyers to gain a visa by purchasing property worth €500,000 or more. The change could affect certain parts of the property market.
Fewer investor buyers: The market may see a drop in non-EU investors, particularly in high-value property segments.
Longer sales for premium homes: Properties above €500,000 may take longer to sell, especially in cities or popular coastal regions.
More focus on lifestyle buyers: Demand may shift toward those buying for relocation or retirement, rather than for visa purposes.
So, if you’re selling in a region popular with overseas investors, it may be worth adjusting your pricing, timing or marketing strategy accordingly.
Avoiding common pitfalls
Selling property in Spain is an exciting step, but here are a few things to consider to make the process even smoother:
Buyer appeals against Plusvalía Tax and your liability: If a buyer challenges the Plusvalía tax after the sale, you could still be held responsible. Clarify upfront who will cover it and ensure it’s included in the sale agreement.
Negotiation strategies for minimising buyer withholding taxes: Buyers may want to reduce their liability by negotiating down the declared sale price, which can create legal and tax complications for sellers. Work with a qualified and independent Spanish lawyer (abogado) specialising in property law and non-resident taxation, to stay compliant while protecting your interests.
Unclaimed 3% withholding tax refunds: If you’re eligible for a refund on the 3% withholding tax, make sure to file within the four-month deadline with the Spanish Tax Agency (Agencia Tributaria). Many sellers miss out due to incomplete documentation or late submissions.
*Bank-beating exchange rates
Get more for your money with great value on every transfer. We offer bank-beating exchange rates, no transfer fees, and award-winning service you can rely on.
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Supporting our customers
We used Lumon to transfer money to the UK from a house sale in Spain. They were fantastic, very friendly, professional and patient. In a very stressful time they helped to guide us through. Thank you.
What our customers are saying
The information provided is for general information purposes and does not constitute legal, tax or other professional advice from Lumon, and it is not intended as a substitute for obtaining advice. It is recommended you seek professional advice from a financial advisor or any other professional.
Your guide to selling a property abroad
Our selling property guide is packed with information and resources to support you, including:
- Key considerations before putting your property on the market
- Information on taxes, legal processes and required paperwork
- A handy checklist to help keep your sale on track
- Useful tips to help make the selling process as smooth as possible
