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Mistakes you should avoid selling your property

Posted by Sebastián Nieblas on December 12, 2019
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These are the major mistakes that should be avoided when selling your real estate.

Marbella is the ideal place in Spain to relax and feel comfortable in an exclusive environment with a pleasant year-round climate, whether you are looking for a holiday home, a permanent home or a retirement home. Property owners and holidaymakers in Marbella enjoy an interesting cultural and sporting infrastructure all year round in a pleasant climate, whether golfing, tennis, horse riding, polo, water sports and much more.

Nevertheless, the real estate market in Marbella is also very lively. Perhaps now is the time to get the best possible sale price for your property? Or are you forced to sell your property due to private incidents? When selling, small carelessness can sometimes be expensive. For this reason, we have compiled the most common mistakes when selling real estate in Marbella (Spain) for you and show you the most important steps to avoid them:

Show the property at its best! Home staging can help with larger properties in particular. The property will be designed in such a way that it looks perfect on the pictures.

Are all the necessary documents there? Missing documents arouse distrust and can frighten away potential buyers. An agent of your trust, who will give you professional and honest advice, will, of course, do the work for you (up to the notary). The most important documents for sale in Marbella are summarized below.

The after-sales service of our company is also important for you because you may not speak the local language or are not familiar with the customs of the country. No matter if you want to buy an apartment, a penthouse, a villa, a property or an investment or if you want to sell your property – give your mandate to the agent of your confidence, who also speaks your language and understands what you want. Whether now in German and Swiss German, Spanish, English, French or Italian.

Find the perfect sales channel! There are agencies that deal with auctions and certainly, there are real estate bargains in Marbella that can be found there with a lot of luck. However, this is a very special market that we hardly serve. However, we can introduce you to bargains or special offers in Marbella – call us, we will advise you.

Sell with the right partner! There are sellers who prefer to sell their property without a real estate agent in order to save the real estate agent’s fee. We as real estate agents with many years of experience check the creditworthiness of the customers whom we present to you in the event of sales and protect you from fraudsters and impostors who are unfortunately also on the road in Marbella.

Estimate the best possible sales price! A fair market price is important to avoid long sales times and unnecessary visits. With us, the customer is qualified to find the right property and the potential buyer is also qualified whether the property also meets the buyer’s requirements.

Get an overview – here are the current properties for sale in Marbella.

DOCUMENTS FOR SALE

According to Spanish law regarding the sale of real estate properties by a third party, we are obliged to keep certain documents in our files before we can offer a property for sale.

1. Copy of “Escritura” (title deed) or copy of “Nota Simple” (land register extract)
2. Copy of NIF/DNI/Passport from you or the Company
3. Copy of your last payment receipt of I.B.I. (property tax)
4. Copy of first occupancy license (Licencia de Primera Ocupación)
5. Selling order
6. Energy efficiency certificate

PRICES AND TAXES

The commission regulation for brokers in Spain is fixed in such a way that it is always paid by the seller. The seller places a sales order with the broker of his confidence, which is concluded exclusively for a certain period of time and expires or can be terminated after this period. There are also normal sales orders, which allow several brokers to be commissioned with different nationalities, for example.

It is important that all agents offer the same sales price, because the Internet, which is the most common and successful platform to present real estate of all kinds, is accessible to everyone and would very quickly reveal the different purchase prices.
The commission amount is normally 5% plus VAT and depending on the sales order whether exclusive or sole order according to

The commission regulation for brokers in Spain is fixed in such a way that it is always paid by the seller. The seller places a sales order with the broker of his confidence, which is concluded exclusively for a certain period of time and expires or can be terminated after this period. There are also normal sales orders, which allow several brokers to be commissioned with different nationalities, for example.

It is important that all agents offer the same sales price, because the Internet, which is the most common and successful platform to present real estate of all kinds, is accessible to everyone and would very quickly reveal the different purchase prices.
The commission amount is normally 5% plus VAT and depending on the sales order whether exclusive or sole order is open upwards.

Guidebook for the purchase and/or sale in Marbella

The following additional charges are incurred when purchasing a property in Andalusia:

VAT (IVA): 10%.
Real estate transfer tax (ITP):
– 8% up to 400.000 Euro
– 9% from 400.000 to 700.000 Euro
– 10% from 700.000 Euro
The value-added tax (new properties) excludes the land transfer tax (used properties); with new properties, the so-called stamp tax at a value of 1.5% is additionally payable. In the case of business premises and properties, the value-added tax is 10% or 21%, depending on the situation.

Notary and land register costs: For notaries and property registers, there is a scale of fees that prescribes fees depending on the value and volumes of the deed. With a purchase price of EUR 500,000, the notary and register costs amount to approx. EUR 1,000.
Attorney’s fees: Depending on the purchase price and the volume of the activity, the attorney’s fees amount to approx. 1% of the purchase price.
In Spain, the land register according to Central European understanding does not exist. It is called “Registro de la Propiedad”, simply “property register”. The registration of a real estate is not obligatory. At the Costa del Sol and especially in MARBELLA the land register situation has been adopted thanks to the many investments, however, to the Central European conditions, and therefore it is unimaginable in our real estate everyday life to work on a property not registered in the land register.

The entry in the property register is made via the notarial certification of the sales transaction. When an agreement is reached, the buyer and seller normally first conclude an option or private commercial contract, which is already binding. Normally, a down payment or option of approx. 10 % is made at this time. Upon payment of the remaining amount, the buyer and seller or their authorized representatives go to the notary and sign the “Escritura” (notarial deed of ownership).

The notary’s office then issues the “Copia simple de la escritura”. The actual notarial contract, the “Copia autorizada”, I made via diversions (tax office, municipality) to the land register for final registration. We are happy to be your partner in the purchase and sale of your property here in and around Marbella.

Would you like to sell your property?

We are your partner and will advise you on pricing through comprehensive market analysis and make suggestions for our successful marketing concept. If you wish, we can also bring in international colleagues of our trust and our extensive network for fast and successful marketing. Please feel free to call us – we look forward to hearing from you. Our advice and assessment are free of charge for you – a service we offer you as a broker with a long-standing presence in Marbella.

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