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Selling a Property in Spain: A Comprehensive Guide to Preparation and Success



Selling your property in Spain is a significant undertaking that demands careful planning and attention to detail. To ensure a successful sale, we've outlined a step-by-step guide encompassing all the crucial stages of the process, integrating legal considerations specific to the UK.

 

1. Gather Essential Documents


Before initiating the selling process, compile all necessary documentation. This includes your property deeds (escritura), the latest IBI receipt (property tax), an energy efficiency certificate, licence of occupancy/certificate of habitability, community fee receipts and the latest electricity and water bills. If your property is part of a community, obtain the statutes and minutes of recent meetings. Ensuring the availability of these documents is crucial for a smooth and legally compliant transaction.


You will also need to ensure you hold a Spanish NIE number. At Lopez & Moreno Associates, Notary Public and Spanish Lawyers, we can assist with obtaining your NIE number or a duplicate if the original certificate is missing.

 

2. Verify Your Legal Status


Confirm that your property aligns with all legal requirements. Check for any outstanding mortgage payments, ensure compliance with local planning laws, and validate the status of all necessary permits. If applicable, obtain a license of first occupancy, a vital legal consideration in the selling process.

 

3. Set a Realistic Price


Conduct thorough research on the current property market in your area to determine a competitive and realistic selling price. Consider aspects such as location, size, condition, and amenities. Collaborate with local real estate agents who have expertise in the UK-Spanish property market.

 

4. Prepare Your Property


Invest time in enhancing your property's visual appeal. Attend to necessary repairs, repaint walls in neutral tones, and declutter the space. Professional staging can play a pivotal role in showcasing your property's potential and attracting potential UK buyers.

 

5. Hire a Professional Photographer


Quality visuals are paramount for online listings. Engage a professional photographer to capture your property's features effectively. High-quality images significantly impact a buyer's decision to explore the property further.

 

6. List Your Property Online


Utilise reputable online platforms to showcase your property. Create comprehensive listings with detailed descriptions, high-quality photos, and accurate information. A virtual tour can provide UK buyers with a thorough view of your property, enhancing their decision-making process.

 

7. Work with a Real Estate Agent


Consider enlisting the services of a local real estate agent with expertise in the UK-Spanish property market. Their knowledge, networks, and negotiation skills can simplify the selling process and provide valuable insights.

 

8. Prepare for Property Viewings


Ensure your property is available for viewings at flexible times. Present it in a clean, well-lit, and welcoming manner. Highlight key selling points during viewings, and be ready to address questions about the property and the surrounding area, catering to the preferences of potential UK buyers.

 

9. Negotiate and Accept an Offer


Upon receiving offers, carefully evaluate each one. Negotiate terms, considering both price and conditions. Once terms are agreed upon, draft a reservation contract and collect a deposit from the buyer.


It is advisable before signing any documents to seek independent legal advise from a lawyer qualified in Spanish Law. You lawyer can prepare the sale contract and negotiate the terms with the other party.


At Lopez & Moreno Associates, Notary Public and Spanish Lawyers, our team can advise and guide you throughout every step of the process of selling your property in Spain.

 

10. Hire a Notary and Sign the Deed


Coordinate with a notary to finalise the sale. The signing of the public deed of sale (escritura) takes place in the presence of the notary, ensuring legal validity. Both parties or their legal representatives must be present during this critical step.


If both parties agree, completion can take place before our notary in the UK.

 

11. Pay Taxes and Fees


Post-sale, fulfill your responsibilities by paying necessary taxes and fees. This includes the Plusvalía tax, capital gains tax (if applicable), and in some cases notary fees (although this is isually paid by the buyer). Seek guidance from a tax advisor to ensure compliance with UK and Spanish tax regulations.


At Lopez & Moreno Associates we can advise and assist you with filling the relevant plusvalia tax declaration and Spanish CGT Self-Assessment.

 

12. Transfer Ownership


Conclude the transfer of ownership at the Land Registry. Provide the new owner with keys and relevant documentation. Notify utility providers and community administrators of the change in ownership, ensuring a seamless transition.

 

In conclusion, selling a property in Spain requires meticulous preparation and adherence to legal requirements. By following these steps, you can streamline the process and enhance the likelihood of a successful sale. Throughout the journey, seek professional advice to ensure legal compliance and a smooth transaction, bridging the gap between UK and Spanish legal intricacies.


Please do not hesitate to contact us for further information and to obtain a quote to assist you with the sale of your Spanish property.

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