Inheriting an apartment in Torrevieja or the Costa Blanca usually comes at the worst emotional moment and with a practical reality: many heirs live far away, The house generates expenses from day one and no one is clear where to start. This guide organizes the complete process for sell an inherited apartment: what procedures come first, What taxes apply and when can you really sign the sale?.
The first thing: You cannot sell until you are awarded the inheritance.
Even if you have a buyer, The apartment cannot be registered in your name until the inheritance is accepted and awarded before a notary., and registered (or at least presented) in the Property Registry. Promising a sale before completing these steps is the number one source of failed trades.
The documentation you will need
Death certificate, certificate of last wills, authorized copy of the will (or declaration of heirs before a notary if there is none), apartment deeds, last IBI receipt and, with all this, the deed of acceptance and allocation of inheritance before a notary. If any heir lives abroad, You can grant a power of attorney so you do not have to travel to each signing.
Taxes that go before the sale
inheritance tax
It is presented within a period of 6 months since death (extendable if requested in time). In the Valencian Community, spouse, children and parents currently enjoy a bonus from 99%, So in most family inheritances the bill is much lower than what people fear.
Municipal capital gains
The city council charges for the increase in the value of the land since the deceased acquired the property. It is also paid within 6 months. Save the receipt: you will recalculate it when you sell, but only for the period from the inheritance.
The detail that almost no one cares about: the award value
The value that you put on the apartment in the inheritance deed will be your acquisition price for personal income tax purposes when you sell it.. Award it at an artificially low value “to pay less now” it usually turns out very expensive later: the entire difference up to the sale price will be taxed as capital gain. The minimum reference is the cadastral reference value, but it is advisable to adjust it with a real market valuation.
You can now sell: how to do it right
With the inheritance awarded, the process is that of any sale, with two peculiarities: the home usually needs a tune-up (emptied, cleaning, small fixes) and the price must be set with data, not with the memory of “what it was worth”. in the area, besides, your most likely buyer is international: advertise in multiple languages multiplies the options.
Realistic deadlines
Between gathering documentation, sign the award and pay taxes, the usual are 2 a 4 months before being able to sign a sale; more so if there are several heirs or one resides abroad. Start preparation for the sale in parallel (valuation, photos, property documentation) save that time.
At Mayrasa we accompany inheritances from beginning to end: We coordinate with the notary, We value the apartment with real sales in your area and we take care of Sell your apartment in Torrevieja while you don't have to move. Tell us your case and we will tell you exactly where you are and what is missing.
The expenses that continue to run while you decide
An inherited apartment does not wait. From the day of death, expenses continue to be generated that someone has to assume, normally the heirs and in proportion to their share:
- Community fees, including payments approved before or after death.
- IBI and garbage rate, that are issued to whoever appears as the owner 1 January.
- Supplies: although no one lives there, Keeping light and water active facilitates visits and avoids humidity and surprises.
- home insurance: It is advisable to maintain it and notify the insurance company that the home is unoccupied, or may not cover a claim.
Be careful with community debts: The apartment is responsible for the fees for the current year and the previous three, so ask the administrator for a certificate of being up to date before closing anything with a buyer.
If you are several heirs and there is no agreement
While the inheritance is not distributed, the apartment belongs to everyone in proindiviso. To sell you need unanimity: it is enough for one to refuse to block the operation. The three usual options are for an heir to purchase the share of the others through termination of the condominium., sell jointly and distribute the money, or — as a last resort — go to the judicial division, which is slow and usually ends up in auction below market.
We develop it with the options and their costs in the guide on sell a house inherited between siblings.
How much does the process cost
Guidance figures for a simple inheritance with an apartment on the Costa Blanca. They vary depending on the value of the property and the number of heirs:
| Concept | Approximate cost |
|---|---|
| Death certificates and last wills | Free or a few euros |
| Declaration of heirs (if there is no will) | 300 – 600 € |
| Deed of acceptance and award | 600 – 1.200 € |
| Property Registration | 300 – 600 € |
| inheritance tax (C. Valencian, direct family) | Bonus to 99% |
| Municipal capital gains on inheritance | According to years and value of the land |
| Management or lawyer (optional) | 500 – 1.500 € |
Added to this are, already on sale, the new municipal capital gain for the period from the inheritance and the personal income tax on the capital gain, if there is.
Mistakes that are expensive
- Let the 6 months without submitting the inheritance tax or requesting an extension. Bonuses are lost and surcharges appear.
- Award for value too low to pay less at that time and end up paying the entire difference in personal income tax when selling.
- Sign the deposit before having the inheritance registered. If registration is delayed, You miss the deadline and you may have to return double.
- Empty the house without inventory when there are several heirs. It is one of the most common causes of family conflict.
- Price what it cost or what the neighbor asks, instead of actual sales closed in the same area.
Frequently asked questions
Can I sell the apartment without accepting the inheritance?
No. Selling implies disposing of the asset and only the owner can do that.. Signing the sale means tacitly accepting the inheritance, with your debts included. If you suspect that there are debts greater than the value of the apartment, Check first the option to accept the inventory benefit.
Do I have to pay personal income tax if I sell right after inheriting??
Only for the difference between the inheritance value and the sale price. If you sell shortly after and for a similar amount, the profit is usually small or non-existent. Hence the importance of not undervaluing the floor in writing..
What if I live abroad?
You can grant a power of attorney in your country—with a Hague apostille and sworn translation—so that someone can sign for you both the inheritance and the sale.. You will need NIE. If you are also not a tax resident in Spain, the buyer will retain a 3% of the price on account of your IRNR.
Is it advisable to renovate before selling??
Almost never a comprehensive reform. Yes they compensate for emptying, a thorough cleaning, paint and fix what is visible broken. In apartments inherited from the area, This basic set-up usually moves the final price more than any large work..
