Here is a small collection of the most frequently asked questions by homeowners who want to sell their property. It will surely clarify some doubts for you.
1. I want to sell my property. Where do I start?
Contact me.
I’ll make an appointment to meet you and get to know your property.
I will give you an estimate of the value of the property in the current market, without any cost.
According to the agreed starting price, I will give you an estimate of the selling costs (see point 3) and we will sign a standard contract that authorizes me to put the house on sale, to promote it, to organize the visits with the clients and to manage the sale when we have a buyer.
I will ask you some simple questions and take some good pictures.
2. What documents do I have to provide?
- A copy of the deeds.
- Copy of the D.N.I or passport (and NIE for foreigners) of the legal owner(s).
- Copy of the valid ‘Cédula de habitabilidad’ (it is valid for 10 years, if you do not have it we can process it for you).
- Energy efficiency certificate, EPC (valid for 10 years, if you do not have the EPC we can arrange it for you).
- Copies of the latest water and electricity bills.
- Copy of the last SUMA receipt (IBI).
- Last receipt of payment from the Community of Owners if applicable.
- Complete set of keys (or the key holder’s contact).
3. What are my expenses?
- Plusvalía (municipal tax)
- Current year’s IBI (Property Tax paid every year)
- If you have a mortgage: bank and notary fees (cancellation of the mortgage)
- If you are not a tax resident in Spain: 3% retention tax on the declared sales price
- Management and translation costs if applicable
- Sales commission (variable according to sales price)
4. I've received an offer. Now what?
When you receive an offer, take your time to think about it, but don’t take too long to answer.
The market is very active and variable, two things to keep in mind. There is a large supply on the market and therefore real competition.
It is not a question of having the house for sale for a long time while waiting for an offer that will never come. It’s about selling your home at a fair and realistic price.
An offer may sometimes seem too low but it may be the best and only chance to sell your property in a long time.
Let me advise you in the negotiations, my job is to look after your interests and guide you effectively.
5. Offer accepted! What do I have to do?
When the sales price is agreed, I will make an appointment with you in the office to sign the sales contract or I will send it to you by email if you cannot sign it in person.
This same contract is signed by the buyer and is the document that formalizes the operation until the signature at the Notary.
This contract contains the complete details of both parties, the description of the house, the sale price, the date of taking possession, etc..
When the contract is signed, the buyer makes the payment of the reservation as a deposit. The rest of the agreed amount will be paid on the day of signing at the Notary’s office.
The waiting time between the signing of the sales contract and the signing of the Public Deeds at the Notary’s office may vary, but usually no more than 3 months elapse between the two operations.
At the signing at the Notary, you will receive the rest of the agreed amount and hand over the keys to the new owner of the property.
Endnote:
Don’t forget that you will be advised at every stage of the process. We manage the necessary documentation, make the relevant appointments, administer the payment of taxes and translate the official documents if necessary.
If you have any further questions, please do not hesitate to contact me.