Fuengirola - Property and Businesses for sale on the Costa del Sol

Selling a Property or Business in spain

The Agent

We are always searching for new properties and businesses to add to our portfolio, and through our network system are able to market your property or business with over 550 other real estate agents selling throughout the Costa del Sol . We continually advertise in local papers and magazines, and have one of the best website optimisers on the Costa, constantly updating and ensuring our website gets seen by prospective buyers.

If you decide to sell your property or business through us, we will visit you to take details and photographs and to discuss a selling price, along with our terms and commission. We will attend to the whole process from start to completion of sale.

Preparation and Presentation

Once you have made a decision to sell your property or business, you will probably want this to happen as quickly as possible. We cannot tell you how long it will take but we can advise of the little things you can do to make a quick sale more likely. Before putting your property on the market, you might want to consider:

1) Making those small repairs you have been meaning to do (haven't we all...!)
2) Decorating - create a clean and fresh look.
3) Clearing away clutter - making space.
4) Tidying the garden.
5) Appointing a Lawyer

Before presenting your property or business to a prospective purchaser, ensure that

1)  It is clean, tidy and looking its best, and
2)  The garden is neat and tidy - the first thing the purchaser will see when viewing your property is the outside - first impressions are very important

As your agent, we are quite happy for you to leave the showing of your house or business to us, but it is always helpful if you are on hand to answer any questions which may arise. Always speak positively of your asset. It is also important that you have all documents to hand which may be needed at short notice should a client be interested in your property, for example and if applicable.

1)  Escritura (Title Deed)
2)  Receipts for payment of IBI (Real Estate Tax)
3)  Most recent income tax declaration to prove that property taxes have been paid
4)  Receipts for community charges
5)  Receipts for payment of utility bills - electricity, gas,water, telephone, rubbish
6)  Any licences, permits or maintenance agreements
7)  Leasehold contract
8)  Receipts for payment of retention
9)  Itinerary of contents being left behind

Another helpful asset to encourage a quicker sale is to have a 'FOR SALE' sign outside your property. Many prospective purchasers drive around specific areas they are interested to buy in and if they see a telephone number they will usually ring it. We will provide a sign free of charge.

Negotiating

Any prospective purchaser will make an offer through us (the agent). As we will have an understanding of the needs of both yourself (the seller) and the buyer, we will be in an ideal situation to negotiate a price which will suit both parties.

Contract

Once an offer has been made and accepted by yourself, you may wish us to ask for a refundable holding deposit from the buyer to enable you to take the property off the market and fix the price. If you do not feel this is necessary, then a 10% deposit will be obtained on the signing of the contract which will be prepared by the lawyer.

Notary

Completion of sale will take place when the " Escritura de Comproventa " is signed before the Notary. At this stage the buyer will pay the balance of the purchase price.

Costs

You, as the seller, will normally be responsible for 'plus valia'. It is a local municipal tax and is based on the assessed increase in the value of the land since the last time the property changed hands. Costs to vendor are:

1)  The 'plus valia'
2)  Agent's commission
3)  Capital Gains Tax

Capital Gains Tax
The difference between your declared buying price and selling price is classed as profit. This profit will be adjusted according to the length of time between buying and selling - the longer the time the less the profit. The profit is then taxed as a capital gains. Non-residents pay 35% capital gains tax on the profit and residents pay 20%. If you are a non-resident, your buyer will be required to lodge 5% of the purchase price with the Spanish tax office as a deposit.

We hope this information has been helpful and that you will consider using Nicholas Needham Associates to help sell your property or business.

If you would like to sell your property through us or if you have any other queries, please contact us now and we guarantee you won't be disappointed.

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