Selling Spanish Property for £££

[awolwol]

Hola

A question on behalf of a friend wishing to buy a holiday home in Orgiva, but worried about the recent fall in the value of the pound. Is it possible to agree a sale in Spain whereby the actual funds are transferred in the UK in Sterling ? Is this possible/legal ?

Thanks

AWOL

[J&S]

I think anything is possible; it just depends on what the buyers/sellers agree between themselves. There will be a tax charge on the transaction though, and this is based on the declared value of the property (in euros) so as long as this figure is provided to the tax authorities what actually changes hands (£sterling, euros, beans etc) is almost certainly irrelevant.

Best if your friend uses a solicitor to ensure the appropriate declared value is met.

[Candela]

We actuallt did this when selling a small place we had here. The only problem we encountered was

1) the Notario wanted proof of the money being paid in, so the buyer asked for a receipt when they paid the money in the UK. This had to be a signed receipt not just a print out.

2) They had to have the bank do a receipt into Euro's as the notario would not accept a payment in sterling.

the banco Popular did this for them, as that is who they use in Spain, but it was not the bank the used to pay from.

Hope this helps
candela