SELLING A PROPERTY YOU INHERITED?
The sad truth about a pandemic means it is inevitable some of you will inherit a property in Spain. But what are you supposed to do with it? Move in? Sell it?
The inheritance process in Spain is relatively simple. Providing your loved one left a Will, everything should be straightforward.
If you’ve inherited a property here in Spain the first thing to do is, speak to a local Spanish Lawyer. They will be able to give you a timeframe on winding up the Estate.
This means having the proper- ty registered in your name. You may not have to pay anything up front, as if you’re intending on selling the house you’ve just inherited, your Lawyer may let you pay their fees and associated taxes upon the completion of the house sale*.
Allow approximately 3 months, once your Lawyer has received all relevant paperwork, for everything to be registered in your name.
Did you know that, whilst your Lawyer is winding up the Estate, you can still start the process of selling the property you just inherited? You can! Providing you let your Real Estate Agent know the circum- stances, they will be able to find you a buyer in the meantime, then complete the sale once the inheritance is finalized.
As long as your Real Estate Agent is aware of your reasons for sell- ing, they can help guide you through this difficult time. So take one step at a time and don’t be afraid to ask for advice.
Most important- ly, don’t be afraid to ask the Lawyer if they are prepared to wait for their payment until the completion of the home sale. You’d be sur- prised at how accommodating they can be!
*Every Lawyer has different policies, therefore you must check with your own Lawyer and ask whether you can pay their fees and taxes on the completion of the house sale.
Thinking of selling your property? Check what paperwork is re- quired to complete your house sale.
Head to www.SellingInSpain.- com to download the list.