(The information on this page is for general advice)
When you have decided you want to sell your property, the process is very easy! You can give us a call, email us or come by our office where we will happily help you. We will guide you through all the necessary procedures to get your property as quickly as possible on our books and for clients to start viewing it.
For this to happen we will require:
- A copy of the original purchase deed.
- A signed commission agreement.
Also, to accelerate the process, it is handy if you can also present the following:
- A copy of the last IBI (Impuestos sobre Bienes Inmobiliarios) receipt.
- A copy of the last community fee receipt.
- A copy of the energy certificate.
- Photographs of the property (this is not essential, our agents can take these when they go view the property)
When this is done we will proceed to go visit your property and together set the asking price:
The asking price
Landcaster is the Real Estate agency with most properties in our system in all Sotogrande! We are very experienced sellers and know for a fact that the asking price is the most important factor when listing your property. We encourage you to give us your desired price, we understand a property is a very important part of anyone’s assets. We at Landcaster take great care in arriving at the fair price your property should be placed at in order to sell efficiently. Normally we provide the vendor with a sales price after we have seen the property and carried out the necessary price comparisons with other similar properties.
You must consider is that the real estate market is very competitive and sometimes overpricing drives buyers away. Over-valued properties only serve in driving a possible buyer away! When a buyer perceives that the property is over-priced, he will not even visit it. Even though buyers look for many factors the most dominant is the PRICE! The price will always be what makes or breaks a sale!
Actions To Help Sell Your Property
We will only take prospect clients to see your property, however it is essential we have access. Purchasers are usually around for short periods and are known for visiting the office without prior appointments demanding to see properties on short notice. This will guarantee the best exposure of your property to all qualified clients. We will of course contact you before we go for a visit.
Showing Your Property we want it to appeal to the clients! these are some easy tips:
- Obviously the property is the main star of the show but if we can sub-consciously appeal to the buyer’s 5 senses we stand a better chance of selling your home for the MAX price and fast!
- Day time open all curtains so sunlight enters the property and if it is evening or night turn on all lights to better illuminate the property and try and have the rooms free from clutter. Small Repairs make a big difference. If a repair is small, DO IT!. Otherwise the purchaser will always use this as an objection to rationalise his low offer. Remember showing the property in a clean, tidy and well-maintained manner may cost you less than the discount you may need to give.
- No one like a dirty house! Have the home as clean as possible & allow the buyers to roam freely through the house un-interrupted. Have some light relaxing music playing in the background if possible.
- It is best if pets are constrained when viewers come. For those who do not have pets it may be bothersome and pet lovers could be distracted.
- Children should be seen, not heard as they can will disturb the professional flow of the showing. Ask them to remain calm when there are agents and buyers, to go outside or watch TV.
- Upon first arrival you do not need to worry. The agent will take care of introductions. If there is a situation that needs mentioning, perhaps a sick child in the second bedroom, do so now. You may invite the agent to begin showing the home and then you may excuse yourself. It is important for you to discreetly remain away from the buyers and maintain a low profile. As helpful as you wish to be, your presence will be intimidating. They need to be able to discuss the home freely with one another. The agent will take care of everything and to learn how they are responding to your home. Your presence can limit that free communication. As much as you love your home, don’t be tempted into doing the agent’s job. The agent has been working with the buyers and knows what it is they are seeking.
Inclusions – The listing sheet should clearly identify items that are included and excluded for the offered property. If your intention is to sell your property furnished, make it clear from the very beginning as to what is to be left and what is not. When a purchaser is made to believe an item is included and then is informed that it is not, it will without doubt bring ill feeling and could cause the breakdown of negotiations. Therefore it is recommended that an inventory be given to the agent upon placing the property on the market. Don’t initiate conversations about other personal property that you may be interested in negotiating. It is rarely a deal clincher, it may be distracting, and there will be time to discuss this when the offer is presented.
Bidding And Negotiating -
All offers are requested in writing and accompanied by a financial statement of the purchasers. However you need to be ready to negotiate quickly. A second home is not a necessity and bought many times upon emotion. Waiting and differing the sale can make these emotions dissipate. Make sure you have all outstanding bills paid on the property, such as Community fees, Property tax, Electricity bills or water bills.
We always aim to negotiate the highest price possible without losing the client since we owe our fiduciary responsibility to you the sellers, With countless transactions and negotiation experience we will guide you through every step of the way making sure you have a successful transaction. Be ready to sell!
Selling Costs In addition to your lawyer’s fees there are the following costs to be considered:
Whilst Spanish law states that the majority of these fees are payable by the vendor it is not uncommon for these costs to be negotiated to be paid by the purchaser. The fees are based on a scale of the value of the sale and the number of pages of the “escritura de compraventa.
Plus Valia – Municipal Tax
This is a tax charged by the local municipal government: The tax amount is calculated with a formula based on the “valor catastral” – the value of the land (not the building) of the property and the number of years that land has been owned by the vendor. Payment of this tax is the responsibility of the vendor but if it is unpaid then that liability will pass to the new owner. Therefore it is normally agreed, when the vendor is a non-resident, that the purchaser retains this amount at the time of completion of the sale.
Capital Gains Tax
In 2007 this tax was simplified to be equal to all vendors both resident or non-resident, unless the vendor is a trading corporate entity or a resident person over the age of 65. The present level of capital gains tax is set at 21%. In the case of non-residents, the purchaser is obliged by law to retain 3% of the sales price and pay it directly to the tax authority (Tesoro Público) as credit for the pending tax. In the case that the 3% is greater than the actual capital gains tax payable, the vendor can reclaim this amount.
Estate agents in Southern Spain will usually charge between 5% and 7% sales commission, plus 21% V.A.T. However Landcaster Property Sales charges a flat rate of 5%, plus IVA @21%.
Disclaimer: The content of this document is provided for guidance only, and while every effort has been made by Landcaster real estate to ensure the accuracy of the information and translations contained, no liability can be accepted for any errors omissions and inaccuracies, or for the opinions expressed herein.