Selling Your Home in Spain? Here’s What You Need to Know

Decided to sell your home in Spain? Getting rid of such valuable assets brings uncertainty, cost, time, doubts, and of course emotions. A lot of efforts come down to the buyer’s perspective and understanding the common pitfalls to speed up the property selling process.

Spanish property prices have increased by 4.68% during 2019, however, they were increasing at a slower rate than usual. . The COVID-19 outbreak has largely impacted the real estate market in Spain, but now you see multiple signs of recovery and a potential drop in house prices. So, make sure to do your homework in advance and one of the best ways to streamline your selling process is to consult a local estate agent.

Document Preparation

When it comes to selling a property, you can’t ignore the need for documentation indeed. Mandatory documents may include:

· The title deed of the property

· Receipts for the local municipal property tax

· Utility bill copies

· Community statues details

· A list of items/upholstery included in the sale

· Residencia card if you own a residency status

2 Bedroom Apartment in Calpe, Spain

The Process of Selling a Spanish Property

The best part is a buyer and real estate agent will end up doing most of the tedious work. The procedure goes through necessary due diligence evaluation, drafting deposit contract for both parties, commitment to the deal, and specific date of the purchase.

The closing of the deal comes down to a meeting where the buyer, legal representative, and the estate agent will be present. The notary will further convey the Land Registry of the sale and deliver them a copy of the sale deed.

Costs and Fees of Selling a Home in Spain

As a seller, you can expect to pay:

· Estate agency commission

· Energy performance certificate

· Capital gains tax

· Plusvalía tax

If you’re not an official resident of Spain, the buyer is entitled to forward 3% of the purchase price to the tax authority on the sale completion. You need to pay any amount owning within a month of the sale and request a refund wherever appropriate.

Speed Up the Sale of Your Spanish Property

It is worth putting thought into the look and feel of your property when selling. Consider these aspects:

· Remove personal items, declutter, add mirrors and plants, and take away unnecessary objects

· Make sure you display the best possible images and go for the right agents to promote your property

· Set realistic prices and expectations

· Put together copies of all requisite documents to reach potential buyers smoothly.

Want to find out more about selling a home in Spain? Feel free to speak to our professional staff to give your asset to the best advantage. Selling and managing your transfer costs is no hassle with our expert agents.