Calculate the expenses to sell a home

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When we make the decision to sell a house , the first thing we think about is the profit, the money we will get for it, and we leave aside the expenses when selling an apartment. There are procedures, taxes and procedures that have to be paid in order to successfully complete the sale of the house. So that you do not encounter any surprises, today we will talk about calculating home sale expenses , so that you have all the information before starting the process.

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Calculate home sale expenses: how much do I have to pay?
In any purchase and sale operation there are a series of taxes and expenses when selling an apartment that we will have to take into account from the first moment. We don't want you to have problems on signing day because you don't have everything in order.

Taxes when calculating home sale expenses
When we make the decision to sell an apartment, there are three taxes that Chinese Overseas America Number Data we will have to pay: personal income tax, IBI and Municipal Capital Gains. Let's see them!


Recommended reading:   What taxes are paid when selling a house?
IBI
The IBI or Property and Real Estate Tax is paid annually and must be paid by the owner of the home. Therefore, when selling a house we will have to present the last receipt for the IBI paid; If you don't have it, you will have to pay for it.

This tax varies depending on the municipality. The most expensive is Madrid, with an average of €438 in 2018, while in Barcelona the average is €397. The cheapest is Ceuta with €87.

Municipal capital gains
The Municipal Capital Gains Tax is paid for the increase in the value of the land, not the home. How do I know how much I have to pay? We assume that the payment of capital gains varies depending on the municipality in which you are located, so we cannot give you an exact figure, although we can give you the data to give you a rough idea. The tax is calculated through these factors:



Cadastral value of the land .
The years between the purchase and sale of the house. The tax is calculated with this percentage and is counted up to 20 years. Thus, if you have lived in your house for 30 years, you will pay the same as if you had lived for 20.
The type of tax, which will depend on the municipality in which you are located, although it does not usually exceed 3.5%.
Bonuses , make sure if you can have some type of reduction.
So how do I calculate it? You will have to multiply the cadastral value by the years elapsed and apply the tax.

Since the Supreme Court ruling in 2018, there is an exception in which one is exempt from paying this tax : in the case where the seller does not have any profit from the sale of the home . This is easily known by calculating the value of the home with the value for which it is sold, whether it is a primary home or a secondary home.