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Do you want to sell your property in Spain? Selling your property in Spain can be challenging if you do not have the guidelines to dispose of your property. As a result, two things could happen: you undervalue your house or cannot sell it.
Here's everything you need to know before thinking about selling your foreign home. You need to know that it generally takes time to sell a house in Spain, so first and foremost, be prepared for a possibly lengthy process.
Property prices in Spain grew by 5.23 percent in the year to the third quarter of 2021, albeit slower than the previous year. The COVID-19 epidemic has influenced the Spanish housing market, and despite promising signs of recovery, pricing indices indicate a probable decline in house prices. When considering whether to sell your Spanish house, do your research, and one of the best ways is to consult with a local estate agent or an online property expert.
How to Select a Real Estate Agent in Spain
A perfect place to start is to ask for suggestions from people you know who have recently used an estate agent. Make sure they specialize in marketing worldwide as properties in Spain are sold to buyers and investors from all over the world. Make sure you chat to a few before settling on one. Look for someone who has worked on behalf of UK citizens in the past and has a huge online presence , and in any case, pick someone who is registered.
When the market is exceptionally robust or in more affluent regions, estate agency fees can range from 3-6 percent or even more. Make sure there is an explicit agreement on any additional costs you may be asked to pay in addition to the price.
Locating a Lawyer in Spain
Although it is not required, you should hire an English-speaking solicitor to monitor the transaction and advise you on tax concerns, among other things. Again, look for someone who has been suggested. The United Kingdom Government maintains a list of reputable English-speaking attorneys in Spain.
Get yourself to a notary
You and the buyer will need to agree on a notary who will sign the papers, ensure that all necessary taxes are paid, and register the property with the Spanish Land Registry. Unlike your solicitor, the notary is impartial, operating in neither your nor the buyer's best interests. The notary merely must guarantee that everything is done correctly. There are 3000 notaries in Spain, both legal experts and government officials, and they operate on a uniform rate card, so there is no need to shop around.
To go over the papers, the buyer and you (or someone to whom you have provided power of attorney for this reason, such as your solicitor) will need to meet with the notary. Before you sign the paperwork, they will go through everything with you and check that everything is in order. Then, the notary will notify the Land Registry of the transaction and provide a copy of the title deed to them.
Nothing is stopping you from using many estate agents, but if you sign an exclusive contract, you should be able to negotiate a lower commission. Set a time limit on any exclusivity restriction to avoid becoming entangled in a relationship that isn't functioning. If you use multiple estate agents, ensure they all list the home at the same price to prevent misleading purchasers.
Is it necessary to use a real estate agent when selling your Spanish property?
You don't have to. In principle, you may put up your own 'Se Vende' signage and publish the information on an internet property site - most of the main ones, such as fotocasa and idealista, offer English language versions. Selling it yourself will save you money on the high commission costs and you will have to speak with buyers yourself from different countries. but, whether you like them or despise them, estate agents have the skills, expertise, and infrastructure to take a lot of the stress out of selling a home.
Contact us today to sell your property in Spain to buyers and investors from all over the world.