Sell My Home

Sell My Home

8 steps to do before you selling your property in Spain

Step 1.

If there is a Mortgage attached to the property you need to go to your Bank Manager, explain you want to sell your property and ask them to give you a breakdown in writing of their Mortgage conditions.  It is Especially importnat what kind of fees are payable on redemption of the Mortgage.  Also ask them if there is the possibility for the Mortgage to be transferred over to the new buyer without extra or unnecessary costs.   The idea being to have a good overview of the financial obligations when selling your property.  If required, the estate agent can help you further with this. 

Step 2.

Value your property.  It is important to obtain a realistic value of your property within the current market situation.  The best way to get a real value is to contact several agencies online and ask them for an estimated value online.  You send details of your property, including property type, location, bedrooms/bathrooms etc to the agent, and they will revert back to you with a realistic value.  You can also ask several real estate agents for similar properties in your area and ask what realistic price is being obtained.

Step 3.

Estimated cost of selling. Selling your property does not mean that you get the selling price net in your hand. For this reason we need to clarify a few points as follows:-

A.  Redemption costs of Mortgage.

B. Real Agent Agency fees.

C. Capital Gains tax.

D. 3% Retention tax (retained from selling price on completion). Refundable within 1 year minimum from local Government if all outstanding tax declarations are up to date.

E.  Lawyers fees.  When selling your property, it is not always necessary to hire a lawyer to finalise the sale of the property.  If you cannot finalise your sale yourself, if based in the UK, you can give Power of Attorney to your Solicitor or agent to finalise the sale in your name. 

Step 4.

Calculate the correct cost when purchasing a new property.

When selling your main home in Spain, there are various costs involved, e.g. removal fees, extra fees on the sale, notary fees, registration fees, mortgage fees.  Contact agent for more information.  Points, B, C and D above give you a more clearer guide to this.  It is beneficial for you to ensure that you calculate all costs involved, in order to avoid miscalculations or shortfalls occurring.

 Step 5

Refurbishments

To sell your property it is adviseable to present the property as best as possible, even if there is something broken or without paint, it is easy to repair and it adviseable to do it, especially if it only cosmetic decoration.  Make sure all windows are clean and presentable and also repair what can affect the price, for example, a broken or rotting window or a leak in the roof, or slight cracks in the wall.  It also recommended to repair these to obtain the best possible price.  In today´s market, it is not necessary to totally reform the property to get a higher price.  It is recommended to leave it as it is and let clients make appropriate offers. 

Step 6

Prepare your property for viewings.

Always ensure your property is clean and tidy for viewers.  Ensure it is bright and airy and if necessary open windows and switch the lights on, especially in the evenings.  It is adviseable to take any pets out of the house when the viewings start.  Be aware of any loud or strange noises, which should be kept to a minimum if at all possible, which could disturb the viewing and put the potential buyer off.   If possible, display some fresh flowers in the lounge or kitchen area.  Ensure the kitchen and bathroom areas are clean and smell pleasant.  Ensure all relevant paperwork has been forwarded to the agent beforehand, including floor plan (if possible), Title Deeds, Escritura and latest water and electricity bills.

Step 7

Ascertain what the buyer is looking for

Step 8

Take each offer seriously.  You have the final decision

Example Marketing,  what we are doing to sell your property in the area