Real estate is a booming business in Spain because more people are looking for homes in Spain to buy. However, since the COVID-19 pandemic took a hit on the economy, people are struggling to pay their bills. Owning a home is now secondary on their list of priorities of most families. Thus selling apartments in Spain has become increasingly difficult. Nevertheless, you can beat the odds by listing your property with the right agency.
When listing homes for sale in Spain, you need to pay several fees. Likewise, people buying a property in Spain will have to pay—but this is a topic for another day. For properties listed with an agency, you have to pay an agency commission of between 3 and 6 percent. Therefore, one of the ways of ensuring that you get the most of your profit is by listing with agencies that charge the lowest fees.
Besides the agency commission, you need to pay capital gains tax that varies from 19 to 23 percent. However, there is an exception for sellers that are 65 years or older who lived there for over three years. Non-residents will need to pay a 3 percent income tax provision.
Also, the Spanish authority made it a law from the first of June 2013 for all property owners to have an energy certificate when they want to sell or rent their property. You must acquire this certification from a qualified certifier like technical house engineers, surveyors, or architects. The price varies from 100 and 500 euros depending on the size of the apartments for sale in Spain.
Statistical findings show that it takes an average of eight months to find property buyers in Spain. However, the current COVID-19 pandemic has increased that number. You need to bear this in mind whether you are advertising cheap properties in Spain or not. But, with the right agency, you can cut down that time by more than half.
To successfully sell a property in Spain there are documents that you need to have. Some consultants have been able to summarize all that you need. One of the crucial documents is the deed of the property that confirms your ownership.
The Spanish Property Tax certificate is vital too. This document shows that your tax payment is up to date. Likewise, you need to present records of all your latest bill payments (water, gas, electricity, etc.). If you are defaulting on any tax, the new owner will inherit them. Pay attention to this when searching for houses for sale in Spain.
Without the appraisal of a professional surveyor, it will be hard to know the value of your property. You also need this document when listing your property with an agency. Other important documents you need to keep handy when selling a property in Spain include proof of mortgage cancellation, payment of community fees, technical building inspection certificate, and certificate of habitability.
Reputable agencies usually have hundreds of daily visitors hoping for the best bargain properties for sale in Spain. Leveraging their large visitor base can help you to sell homes in Spain faster. It allows you to reach clients outside your immediate city. For example, a family may want to buy property in Marbella when moving from Alicante. Such families will rely heavily on agencies to find their dream home—and this could be yours.
There are numerous real estate agencies out there but not all of them will make the right feat. Firstly, look at the type of properties they list and see if yours fits in. Also, check reviews of what others had to say. Get those right and you will never go wrong.