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The recent property crash in Spain hit sellers hard but now thankfully the marekt is back on the increase. While the economy has recovered greatly over the past few years, the property prices are yet to pick up to where they were before the crash. That’s why selling property in Spain is a tricky proposition and to get the best price for it, you need to be smart about how you go about it, and pray for a bit of luck.
Hopefully, some of the free tips Euro Resales offer here on getting the right price for a Spanish property for sale will be of help to you. Read on to know more…
#1. Set a realistic price
As hard as this may be for you, because of the recent fall in property prices in Spain, your home may not fetch the same price for which you bought it for. There have been far too many homes dumped onto the market as so many people in the country have been in dire economic straits of late.
That’s why you’ve no choice but to be brutally realistic about the price to be set for your property. Set the price keeping in mind the property trends for your area - raise it slightly above the average price other homes in the neighborhood are being sold for, perhaps by 5%.
#2. Include the furniture and appliances in the property sale
Furnished homes fetch more than the non-furnished ones, that’s why it makes sense to include furniture, appliances, etc. while selling property in Spain. Besides, it doesn’t make sense to pay a queen’s ransom to get them transported back to your own country, if you are from, say, the UK or USA.
#3. Create a fantastic first impression for the buyer
When you have a Spanish property in for sale, you will do well to work on it, to prepare it for the buyer. Get repair jobs done, have the house repainted, arrange for modern lighting, renovate the kitchen and the bathrooms – just make the property look interesting and, if possible, new. Create a terrific first impression for a prospective buyer. Get the most out of the property.
#4. Get the paperwork in perfect order
The most disastrous thing that could happen to you while selling property in Spain, is the sale being declared illegal by the Spanish housing authorities for dodgy paperwork. So get the paperwork sorted out by a lawyer before declaring your Spanish property in for sale. Have all the important sales documents in the right place.
#5. Invest time and effort on the marketing
Marketing is critical if you’re to get the right price for your Spanish property in for sale. Write down the exact details and measurements of your property on paper, get it captured on camera by a professional photographer, have it presented beautifully, post the ads on real estate websites or have flyers made and hand them over to your real estate agents. Have a prominent “Casa en Venta” (“home for sale”) sign placed on the property.
#6. Never restrict yourself to just one real estate agent
Don’t sign onto a sole agency agreement at any cost, regardless of the persuasion tactics employed by a real estate agent. Hiring multiple real estate agents may seem to be an expensive idea at first, but that’s a great way to get the property off your hands in the quickest time possible. Competition would bring out the best in your real estate agents. Offer incentives to them in addition to the minimum commission, if possible. But you should always be the one to set the price, not your real estate agents. And stick to the same price across all real estate agents.
#7. Use the Internet
Advertize the property on real estate blogs and sites. Join online forums, be active on the social media, offer incentives to people online – whether on Facebook, Instagram or Twitter, for introducing buyers to you, and promise a commission if the property gets sold. It’s not necessary that only a real estate agent should introduce you to a prospective buyer – any of your friends or followers on Facebook or Twitter can do the same as well.
#8. Never come across as too desperate….
Nothing puts off a home buyer more than a seller who looks too eager or too desperate to sell. That sends all the wrong signals. Be relaxed around the prospective buyers; don’t make the cardinal error of overselling the house.
Well, that’s it – our tips on selling property in Spain. It’s not an easy time to have a Spanish property in for sale, but by using the right tactics, you still can get a great price for it.
If you need to sell a property in Spain contact Euro Resales today for free advice to achieve that sale we have helped our clients sell thousands of properties in Spain.