Selling

Do you want to sell your property in Spain?

Again, it is important that you know what to expect.

With years of experience in the construction and real estate sector, we provide expert and personalised service tailored to your needs.

Whether or not you can sell your home quickly depends on various things:

The legal aspect

The Spanish law is constantly changing as far as urban planning is concerned. For this reason, it is possible that you bought your property 10 years ago with documents that were current at that time.  To be able to sell it now it may happen that you will be asked for additional documents the day you decide to sell your property.

Therefore, it is important to get advice from your legal advisor about any additional documents required and any associated costs.

Please be aware that many estate agents are not fully up to date with the current laws and are therefore unable to advise you.  For this reason you should always consult your lawyer.

Required documentation:

  • Escritura (title deeds)
  • Nota Simple
  • Prove of payment and invoice from IBI (=cadastral income)
  • Electricity bill (shows that you have a legal meter)
  • Water bill (shows that you are connected to the public water supply)
  • Energy certificate (drawn up by a technical architect, costs  +/- €250)
  • Document “primer occupacion” (not always issued in the campo)
  • Document “licencia de obra” (not always issued in the campo
  • DAFO (if the “primer ocupacion” and “licencia de obra” are missing, there is a good chance that the buyer’s attorney will demand to see a DAFO (you can read more about this on our website under “notes from the attorney”).

The aesthetic aspects

You are the best judge of this. Imagine yourself being a potential buyer visiting your home. It’s also a good idea to look up similar properties for sale in your region.

Make sure that the ad is accompanied by some nice pictures or a short video in order to entice potential buyers into viewing your property.

Potential buyers have a lot of choice, so if your home is not attractive it will immediately be taken off their list.

This is only possible when:

  • The property is neat and tidy
  • The interior is not full of personal belongings
  • Any defects are repared
  • Walls, doors, windows, are well-painted

Sometimes it makes sense to first invest in your home so you can ask a higher price.

A bright, tidy interior

The selling price

It’s important to ask a realistic price for your property.  Take into account any costs, commission fees and a possible negotiation margin of 10%.  It’s not always a good idea to set the price too high as this may deter potential buyers.  A potential buyer will have looked at lots of other roperties online and often knows what is available out there better than you do. If he sees that your property has been for sale for a long time, he will tend to wonder what is wrong with the property or the paperwork. A decent property with the right asking price should be sold within 6-12 months. Watch out for misleading estate agents who overvalue your property.   What counts is how many potential buyers are going to be interested in viewing your property.

Additional costs associated with a sale

  • If you are a “non-resident” (=you are not a taxpayer in Spain), 3% of the price will be deducted at the notary’s office. The value added tax is 21%. If this is lower than the 3% that was deducted from the sales price at the notary’s office, you can start a procedure to claim back the difference. For example, you bought a property for €200,000 and sell it at later date for €300,000. During the exchange of contracts in the notary’s office a cheque will be written for 3% of € 300,000 (= €9000)
The value added tax is 21% of €100,000 (= €300,000 – €200,000) = €21,000
  • This 3% is not deducted at the notary’s office if you are “tax-resident”. However, you will receive a tax demand for the 21% instead.
  • Plusvalia tax. This is a local tax payable to the municipal council. This is based on the added value of the land (since purchase).
  • Estate agent’s commission fees
  • Solicitor’s fees
  • Any moving costs

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Have you already found interesting links on the internet? you can forward them so that we can take this into account when visiting the region. Who knows, maybe well meet in Spain soon?

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