Acquiring a parking space can be a risk-free investment that simplifies life, especially if you choose a space in a central, high-demand location. The ability to rent or sell in the future offers flexibility. In this article, we will explore the essential steps for both buying and selling a parking space, including aspects such as expenses and taxes.

Buying a parking space: 5 key tips

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1. Know the economic burdens: Analyze a recent simple note to detect possible outstanding debts that may affect you.

2. Consider additional debts: Pay attention to debts such as IBI or community fees, which do not usually appear in the nota simple. These could also fall on you.

3. Review the contracts: Carefully examine the earnest money and purchase contract to protect your rights. If necessary, seek professional advice.

4. Calculate expenses and taxes: Familiarize yourself with the community fees, IBI and Transfer Tax. The amount of the last one will depend on the region where the place is located.

5. Research community rules: Obtain information about community regulations and possible additional costs such as building work or fees.

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Steps for the sale of a garage space

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Advertise the sale: Provide clear information and quality photographs to attract potential buyers. Organize visits in a professional manner and make sure you understand the legal aspects involved.

Formalize the earnest money contract: Although it is not mandatory, it can be useful to protect both parties during the sale process.

3. Prepare the documentation: Gather the necessary documents, including the original deed of sale, debt certificates, updated nota simple and IBI receipts.

4. Sign the purchase contract: Perform this step before a notary, making sure to hand over the keys to the new owner and complete the transaction in a legal manner.

5. Complete the final formalities: Pay the corresponding taxes and communicate the change of ownership to the community of owners.

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Purchase and sale agreement for a parking space

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A contract of sale of a parking space must contain basic information such as the registry data of the property, conditions of sale, price and date of delivery of keys, as well as the guarantee of absence of debts.

After buying a parking space

After the purchase, both parties must comply with the necessary taxes and administrative formalities, including registration in the Land Registry to ensure legal certainty.

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Taxes and associated expenses

The seller must pay the municipal capital gains tax and declare profits or losses in his personal income tax, while the buyer must pay the transfer tax or VAT, as the case may be.

On the other hand, notary and registry fees are usually shared, while others, such as deed granting fees, may vary according to the agreement between the parties.

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