Property Guides and Information for the Costa del Sol, Spain

The Toolbox: Tips for Offering your Property for Sale

Here is a summary of some of the more important points that we feel will help you establish the best stratedgy to help you sell your proper ty:

1. Consider placing a "For Sale" sign by your main agent. This always results in increased client enquiries.
2. Assemble your paper work and have it to hand while selling your property, as it makes for a far more professional presentation. It will also ensure that you have prepared for any debt or liens that may be registered against the property with or without your knowledge. So prepare the following for any interested buyer:
   • Nota Simple,
   • Copy of the Escritura Publica,
   • IBI receipts,
   • Community Statutes,
   • Community bills and receipts,
   • Valor catastral,
   • The property running costs,
3. Fix any small repairs that need doing, or repaint to enhance the look of the property to eliminate objection factors.
4. While using an agent to establish the correct asking price for your property, make sure that you ask him to explain exactly why he thinks it is worth that amount so that you understand what the market is doing in your area.
5. Make an inventory of the items that are included in the sale of the property right at the beginning and give this inventory to your agent. This will avoid upset and confusion at later stages of the negotiation.
6. If you are away from Spain you can leave a power of attorney with your lawyer enabling him to sign a private contract according to your written instructions. You can negotiate the details of the sale with your agent by telephone and fax, and the power of attorney allows your lawyer to sign the purchase contract, without delay.
7. Make sure that you are fully aware of your tax obligations when you put your property on the market. Meet with your lawyer and tax advisor, and find out the options available to you to save money, following this inform your agent correctly so that he can negotiate these factors on your behalf.
8. If you have no experience in selling property, let your agent handle the negotiation, after all his lack of emotional attachment to the property and experience are in your favour. Ensure that you provide him with precise instructions and if necessary put him in contact with your lawyer and tax advisor so he is fully informed on all aspects of your selling strategy. Once the terms have been agreed and confirmed, your lawyer should take the lead role (in co-ordination with your agent) and draft the sales contract and supervise the eventual completion of the sale.
9. It is extremely important to clarify all of the details of the sale from the outset before you instruct your lawyer, avoid trying to negotiate on a piece meal basis wherever possible. Ensure that you have set the price, fiscal considerations, target contract date, deposit, completion date, precise details of what is included in the sale in the way of fixtures, fittings and furniture, who pays the municipal plus valía, etc and that your agent is aware of your requirements and has been properly informed.

April 21, 2006 | Category: Selling Property