Selling a home in Spain
When selling a property in Spain, it’s important to bear in mind that the process is different to that of many other countries and takes longer.
The transfer of the ownership rights to a Spanish property is handled by a Spanish notary. The selling process in Spain can be more complex and take longer than in your home country. This is how it’s done – up to the point of your final meeting with the notary.
TECHNOLOGY. As a vendor, you are required to get an energy performance certificate for your property which is then submitted to the purchaser at the time of sale. Bjurfors Spain can recommend suitable providers of energy performance certificates.
LEGAL. The vendor must be able to provide all documentation relating to the property, including certificate of ownership, certificate of tenure, information about property taxes and association fees.
MARKET VALUE. The property must be valued. Most owners slightly overestimate the value of their properties. You must provide references from actual recent sales of equivalent properties, not simply information about asking prices and sales in previous years. You should ask your agent to provide references for equivalent properties that have been sold, not just vague speculations or previous asking prices. Bjurfors has access to databases and can quickly compile reference prices in most areas.
FINANCE. What does the property you want to sell actually cost to run? What repairs will it need in future, and how much will these cost? Your prospective buyers will want this information so that they can arrive at their own view about the price. We’ll be happy to help you with these calculations.
THE SELLING PROCESS
CHOOSING AN AGENT. Your choice should be based on the estate agent’s ability to find prospective buyers, expertise and commitment to putting the interests of their clients first. It’s a good idea to interview a number of estate agents before you make your decision. Ask about their agency skills, how they market properties, the language areas in which their properties are marketed and the websites they use. At Bjurfors Spain, we always suggest a full marketing plan when we undertake a sale. You’ll find that this isn’t very common on the Spanish property market.
CHOOSING A CONTRACT. A property can be marketed on an exclusive or non-exclusive basis, i.e. you can instruct a single estate agent or several different ones. If you choose an exclusive contract, which is the general trend, you should make sure your agent is a member of the MLS organization. Membership means that your agent can have your property featured in the MLS joint agency database, significantly increasing the number of potential purchasers. If you choose a non-exclusive contract, the agents you select should of course complement one another; i.e. work with different types of purchasers.
MONITORING THE AGENT’S ACTIVITIES. Be sure to monitor your agent’s marketing activities. Agents have hundreds of different jobs on the go, and you have to make sure you are at the top of their list of priorities. At Bjurfors Spain we put the emphasis firmly on our customers and will keep you informed and updated throughout the process.
NEGOTIATION. Purchasers and vendors naturally have opposing interests. Negotiation will be handled by your agent, but close communication between vendor and agent can help bring about creative solutions to many problems. Bjurfors Spain will help you and your purchaser bring matters to a conclusion.