Sale. Selling a property in SpainIf selling a house in Spain, you will be pleased to know that there are more and more potential buyers coming to buy abroad and in particular in Spain. Most people start their search through the internet. This way the seller can avoid estate agent fees and commission, but on the other hand they can lose people who prefer face to face interaction for services and transactions.
Even when selling it is advisable to have someone represent you who understand the process for legal purposes and financial purposes. Legal representation ensure the correct documentation, contracts and legal requirements, so it is a good idea to hire a reliable Spanish lawyer that knows what needs to be done with no exceptions. In terms of financial representation, there are several taxes and costs incurred which must be paid upon completion or retained for post completion taxes. If this is not done properly it can mean very large fines in the future and possibly not being able to sell, so it is essential that all your taxes are correct and up to date. Unfortunately there are equal if not more taxes to pay and be aware of when selling than when buying. The checking process is the same as if you were buying a property, where you check that all the documentation is in order, well the same needs to be done by the seller. The seller must ensure that everything is perfect so that the sale can go through without any hiccups. Just because the purchase of your house went through, does not mean that you have everything needed and update ready to sell.
ABAD lawyers and accountants can offer both a legal and financial service to our clients or separately if necessary to assist you in selling your property, whether residential or commercial.
ABAD has a trained, professional team that can help you with all your needs throughout the entire process making sure that you walk away from the deal with peace of mind and hopefully the amount you wanted from the sale.
The selling process involves the following stages.
- Price negotiation and accord
- Pre-purchase agreement contract and deposit
- Checks of property documents correct and updated (deeds, registration and certificates)
- Personal documents up to date.
- Up to date paid taxes and any other charges (IBI, utilities, community)
- Debt and mortgage review and cancelation, where needed.
- Public Notary for completion and change over.
- Post completion taxes and accounts.
It is always wise to look in to your property before a potential buyer makes you an offer for the simple reason that if you do not have everything needed to sell the process might take a whileby which you may have lost the buyer. Also it is a positive point to have all the paperwork attached to you and your property up to date and correct.