The decision to put your house on the market raises several pressing questions. How much do we ask for it? How best to present it? What documentation do we have to provide? How best to market it? What happens when we accept an offer? Some of these questions have open ended answers, but based on our experience of the property market in Spain and elsewhere in Europe, Spanish Properties Direct would like to make the following observations:
How much should we ask for our property?
It can be difficult to value your property; there are many variables including economic climate, costs of any renovations, location and accessibility only to list a few. If your property is part of a development, take a look at the price that others' have asked for the same or similar style of house. See what else is selling in the area for a given price, and also look at it from the point of view of a potential buyer – would you pay that amount for your property if were you buying it?
We suggest that you get a professional independent valuation done though an Architect. Spanish Architects are licensed to value your property and have access to all the relevant databases to research your property and to provide an up-to-date value.
Spanish Properties Direct has partnered with Jose Morito, an English-speaking technical architect who is well placed to value your property anywhere in Spain thanks to his experience and knowledge of the Spanish market.
How does the legal side work?
It is not compulsory to go through an estate agent when selling a property in Spain, and the Spanish have been buying and selling property for years without them, saving thousands in the process.
We do recommend using a lawyer to conduct the transaction once you and a potential buyer have agreed a price. Use of a lawyer is not mandatory in Spain to sell or buy, but they will make the “red tape” much more manageable.
We have a partnership with Perez Legal Group with offices in Marbella and Alicante who are dedicated to the English-speaking client. They can conduct the buying process in any part of Spain on your behalf, and in perfect English.
Perez Legal Group have provided us with an excellent guide to selling a property in Spain, it covers:
- Required documents
- Costs, fees and taxes paid by the seller
- Corporate ownership
- Capital Gains Tax calculation
- 3% retention
- Energy efficiency certificates
How best to present your property to a buyer?
Once you have made the decision to sell your property, you will want to present it in the best way and show the full potential of your property.
The following guidelines may help:
Don’t plan any further renovations as the new buyer will probably have their own plans, however the following may help:
- Don’t plan any further renovations as the new buyer will probably have their own plans
- A coat of neutral paint to tidy up any walls
- Fresh gravel: if you have a gravel entrance - this is usually the first thing a potential buyer sees
- Remove any clutter
- Try and depersonalize the interior as it will help potential clients see themselves in your property
- Make sure the house smells good. I used to brew fresh coffee or bake bread.
- Tidy flower beds
- Remove any weeds
- Clean swimming pool
- Arrange any outdoor furniture on patio areas
If you are using Spanish Properties Direct to market your property:
- Take time over the photographs you send us. You will know the best angles and lighting at different times of the day
- If you are not confident about taking your own photos we can organise a professional photo-shoot of your property for you for a small fee.
- Take the “hero shot”: the one we use for the front of your brochure
- Take the pictures on a bright sunny day, in the morning or afternoon, but not the middle of the day
- If you are advertising in the winter, see if you have any summer shots tucked away
- Make the description of the property accurate. If you can’t be accurate leave that information out rather than guessing.
Planning the visit
- If you have any pets remove them from the interior of the house for any visits
- Think about the flow of the visit to best show off the potential of your property
- Spend time pointing out the highlights of your property
When buying a property abroad, the movement of large quantities of funds between two currencies can be slightly daunting. To make things easier, Spanish Properties Direct has partnered with Foreign Currency Direct who can minimize the fluctuations between different currencies and avoid expensive overseas bank transfer charges. Click the red link above and they will know you have been referred by Spanish Properties Direct.