Selling a property in Spain involves several important steps, each of which requires careful attention to ensure a smooth process. Here is a brief overview of what to expect when you decide to sell your property.

The Process:

The first step in selling a property is choosing the right agent who knows the local market well and has access to the right buyers. Your agent will take care of everything from setting a competitive price based on market analysis to showcasing your property with professional photography and video.

Tips for Setting the Right Price:

Pricing is crucial. Setting a competitive price helps attract serious buyers quickly, ensuring your property doesn’t sit on the market too long. At Casteels & Eriksson, we provide a complimentary market analysis, helping you price your property competitively based on recent sales and current market trends.

Preparing Documentation:

Before listing, it’s helpful to gather all necessary documents in advance, such as the title deed, occupancy license, and energy certificate, which can prevent delays once you find a buyer. Additionally, ensure there are no outstanding community fees or other liabilities associated with the property.

The Offer:

When a buyer is interested, negotiations take place, followed by the signing of a reservation contract. At this stage, a small deposit is usually paid by the buyer to reserve the property, which shows their commitment and takes it off the market temporarily.

Next comes the private sales agreement, where the buyer usually pays a deposit of 10%. The sale is then completed at the notary’s office, where both parties sign the final deed, and ownership is officially transferred to the buyer.

Costs to Keep in Mind:

When selling your property in Spain, there are a few costs you will need to account for:

• Agency Fees: These typically range from 4% to 6% of the sale price.

• Capital Gains Tax: If your property has increased in value, you will need to pay tax on the profit made from the sale. For non-resident EU citizens the rates are typically 19% on the first €6,000 of profit, 21% on profits between €6,001 and €50,000, and 23% for anything above €50,000.

• Plusvalía Tax: This is a municipal tax on the increase in the value of the land since you acquired the property.

• Legal Fees: It is highly recommended to hire a lawyer to oversee the process, with fees generally ranging from 1% to 2% of the sale price.

“At Casteels & Eriksson, we operate on a no-sale, no-fee basis, meaning that you do not pay us anything unless we successfully sell your property.”

Our Role:

At Casteels & Eriksson, we operate on a no-sale, no-fee basis, meaning you don’t pay us anything unless we successfully sell your property. We ensure your property receives maximum exposure through professional marketing, including premium listings on key property platforms and a feature in our exclusive magazine. Leveraging our extensive international professional network and client referrals, we can tap into a broad audience of potential buyers. With years of experience and a deep understanding of the local market, we manage the entire process, making your sale efficient, smooth, and stress-free.e.