Selling in Spain
This process does not have to be difficult. Particularly when using our Company.
We take our client's needs very seriously. Nothing is too much trouble to make sure that your property is marketed efficiently and to the best possible advantage of the seller.
We have an extremely active web site which is totally user friendly. We have a number of quality agents spread all over Europe and Scandinavia and we use several property portals, namely Rightmove, Kyero and InSpain.TV . We regularly advertise in the local papers and on local radio. We work well with other agents in the surrounding areas and have partnership agreements with them where we can share our properties and potential buyers. There is no need for you to consider using a number of different agents.
Call into our friendly offices or telephone us and we will arrange an appointment to view and provide a free of charge valuation of your property. It will then be marketed in the manner described above.
Once a purchaser is found and a price agreed, we would require the potential buyer to place a holding deposit with this Company. This would be no less than 3,000 euro.
The owner would, at that stage be required to provide papers to collaborate the sale. These would be a copy of the escritura, copy of the passport and NIE relating to ALL named persons on the escritura, copies of the last utility bills and SUMA bill and a notification of mortgage details (if applicable).
It is always adviseable to use the services of a locally engaged lawyer to assist in the sale.
Once these documents are received, a contract of sale would be drawn up. This would be signed immediately by the two parties which acts as a legally binding contract under Spanish Law. This document will be in Spanish and English for avoidance of doubt. At this time a date for completion would be agreed between seller and buyer. If the completion is protracted (more than 6 weeks) then the seller would request a further deposit of no less than 10% of the purchase price.
Just prior to Notary the owner will be given a Completion Statement showing the nett amount he will receive. Please bear in mind that a small retention may be held by the purchaser's lawyer to ensure all utility bills have been paid.
If the owner is not a Fiscal Resident of Spain, he will be requested to pay a 3% non residents retention at Notary. It is unlikely that this amount will ever be released. Most other costs are paid for by the buyer so the owner would be responsible for his own legal fees, plusvalia and administrative costs. These can always be determined prior to completion.
If the owner is a fiscal resident then proof of this will be required. Your accountant should be able to provide papers from the government to cover this.
On the day of completion you will be collected and taken to Notary. Please bear in mind that upon signing at Notary you are no longer the legal owner of that property and would not be given access so make sure all personal possessions are removed the day before.
Our general fees for selling are 5,000 euro or 3% whichever is the higher amount and these charges are subject to IVA.