Email us at : info@easyadsspainproperty.com

Selling

Selling


Why use easyads?

  • We have extensive knowledge of the Orihuela Costa and surrounding areas
  • We adhere to high standards of professionalism
  • We market your property on over 50 international property portals to give it maximum exposure
  • We collaborate with the vast majority of local estate agents as well as international agencies to market your property
  • We use social media effectively to market your property on Facebook, Twitter and Instagram
  • We generate local and tourist foot traffic of over 100,000 people per annum through our shops in La Zenia
  • We use Local Radio, Flyers and External Ad boards to promote our property services and your property

What costs and requirements are involved when selling a property in Spain?

Non Residents 3% withholding retention on selling

To ensure taxes are complied with, a retention is withheld at completion on account of a non-resident vendor’s possible Capital Gains Tax (CGT) liability. The buyer’s lawyer is forced under law to withhold 3% of the agreed sales price and pay it into the Spanish Tax Office (AEAT). The Notary public witnessing the sale will ensure this is carried out. If your CGT liability is nil or lower than the 3% “retained” your lawyer will be able to claim these funds back on your behalf. This process typically takes between 8 – 12 months.

Capital Gains Tax (CGT)

Depending on the original purchase price and final sales price you may be liable for CGT on your property sale. We strongly recommend using a qualified accountant/lawyer to calculate any CGT that may be due. Should you be liable for any payments they will advise you of any tax deductible expenses to help offset against any gains.

Plusvalia

The plusvalía is a local (municipal) tax charged by the town hall on properties when they are sold. It is calculated on the rateable value of property and the number of years that have passed since the property last changed hands. The objective is to tax the increase in the value of the land on which the property stands, some of which is due to improvements to the area carried out by the local government and the community at large.
The base for this tax is the valor catastral (an administrative value that is usually lower than the market value, sometimes considerably so) of the property. The amount due in tax will depend on how long you have owned the property. The longer the period, the higher the amount of tax. In most instances the tax charge is around €200 – €300.

Habitation Certificate

The certificate of habitation also called “Licencia de Primera o Segunda Ocupación” is a document issued by the Town Hall and is a requirement in order to sell your property, it has 2 uses:

  1. Confirmation by the Town Hall that the property was built following the legal requirements of construction, building permits, licenses, etc.
  2. To be able to connect the water and electric to the mains supply, or, for properties already connected, to change the names in the contracts of the supply.

The certificate of habitation is a document which is required to sell new build properties. Since 2008 builders have been unable to sell their new properties without the presentation at the notary office of this document. So, it is compulsory to have the certificate for selling new properties.

With resales, the notary does not require the certificate to authorise the selling. It means that buyers and vendors can sign their deeds without the presentation of this document. The certificate is valid for 10 years. However we strongly recommend obtaining the sight of a valid up to date Habitation Certificate in order to make sure the property is in good order and the purchase process is as smooth as possible.

Energy Performance Certificate

The energy performance certificate is a report that describes how efficient a home is in terms of energy consumption. It assigns an energy rating to each home on a scale which ranges from “A” (the most efficient) to “G” (the least efficient). It was introduced in June 2013 and is a legal requirement when selling or renting a property in Spain. The certificate is valid for 10 years and a new one is only required when this expires or if you have renovated or changed the property in any way.

If you require a Habitation and or an Energy Performance Certificate please let us know and we can organize this through our independent fully registered architect!
Legal Fees

You are not required by law to engage a lawyer when selling your property, however we strongly recommend using an independent lawyer to make sure the process is smooth and all is in order. In addition, if you are liable for the 3% retention tax they will be able to claim this back on your behalf. Average fees for this service around €800 – €1,000.

easyads Fees

Please contact us to discuss our service and fees, we are transparent with no hidden costs, it’s simple! if we do not sell your property there are no fees payable.

easyads Property will refer you to fully legal independent Professionals to deliver the above services!

Tips when selling your property

When the initial Pictures of your Property are taken make sure the property is tidy and is presented at its best, after all this is the first impression potential buyers will see online to ascertain if they wish to view your property or not.

Easy access to your Property is important to all of us, it helps with a smooth process when potential buyers want to view your property. If you do not live in the property permanently let us have a set of Keys, if you are not in the country or leave them with a neighbour and we cannot get hold of them buyers cannot view your property.

Remember you will be Selling your property in Euros, so keep up to date with the exchange rates, by all means contact us at any time as we have our finger on the pulse on a daily basis.

We recommend setting a Realistic value on your property, if you over price your property, initially you will reduce the number of viewings and ultimately extend the selling time period, so start off at the right price to give you every chance of a quick sale.

If you are moving to another country and need to change your sales proceeds into another currency set up a currency account with a Foreign Currency Exchange specialist, this will give you some significant benefits;

  1. Better exchange rates than your bank
  2. No transfer charges
  3. You can pre book an exchange rate to fix the rate for the future

Summary of process and time scale?

As soon as we have agreed sales terms and obtained a detailed description of your property with quality pictures we will market your property within 24 hours.

The time-scale from here could be as little as a few days to a few months depending on a number of factors like market conditions, price, exchange rates, time of the year, a definitive time scale in this process is impossible to say, however we can assure you of our full commitment to market your property making sure it gets maximum exposure and leads to the quickest possible sale.

The next step will be prospective clients viewing your property, we will notify you at the earliest possible time and keep you updated with feedback on any viewings which may help with your sale.

Once a buyer has made an offer and you have accepted, a sales contract will be drawn up which legalises the option to sell and buy. At this stage the buyer will pay you a deposit of €3,000. Should the buyer pull out of the purchase for any reason you will retain the deposit, however should you pull out of the sale for any reason then you are legally bound to repay the buyer double the deposit back.

From here the process could be completed in as little as 2 weeks, however the typical time period is between 4-8 weeks depending on the personal circumstances of you and the buyer.

When all the required documentation and funds are in place a date will be agreed between both parties and booked at the notary to sign the property over to the buyer and you will receive the funds for purchase.

If you are converting and transferring your funds into another currency/country, we advise setting up a foreign currency account with a specialist currency provider. This could save you thousands by obtaining a better exchange rate and no bank transfer charges.

We offer an after sales service for life so if there are any questions or you require any service from here on in, just let us know.