How to sell your property with The Property Group:
We offer very competitive rates for sellers, whether you are selling a property, a plot of land, a business or an empty unit or garage.
A visit to your property is required to provide a no obligation valuation. At this time we will also require your telephone and email contact information to be able to put our valuation in writing to you.
IF YOU DECIDE TO SELL YOUR PROPERTY WITH THE PROPERTY GROUP
To proceed to place your property on our website, you will be required to sign our Vendor Contract which confirms:
- Full name and ID / NIE / DNI of the seller
- The full address of the property (Catastral number if available)
- The Property Group Reference Number which is used on all marketing promotions.
- The agreed sale price
- The agreed commission to be paid on completion of the sale
- Dated and signed
A copy of this agreement will be given to you. This is to show we have your permission to market and sell your property.
At this time, we also require copies of the following for solicitor checks
- Passport / TIE / DNI
- Deeds (Escritura) or recent Nota Simple
Once in place we will arrange a date and time to come to your property and take photographs and a video if you have requested it, as well as to write a full and detailed description for our marketing promotions.
Your property photos and description are put together and uploaded to our website as well as the other marketing portals we advertise our properties on. A bespoke window card is created and displayed prominently in our front office window.
We will also require the following paperwork once a sale has been agreed for your property:
- Latest IBI, electricity and water bills.
- Inventory of all items to be included / excluded in the sale
- Energy Certificate – we can arrange for you if you require
- Details of your legal representative, or we can provide recommendations.
VIEWINGS
Once a buyer has requested a viewing, we will contact you to advise you of the date and time. If you are not living at the premises, we will contact your key holder if we do not have the keys in our safe, and then we will accompany all clients to and from your property. We will ask the buyer for feedback and relay this to you via email.
OFFER AND NEGOTIATIONS
Once a buyer has put an offer to us for your property, we will send this in writing via email to you and also advise you of their funds – if cash ready or mortgage required. You can then either accept the offer or counter offer if the price is lower than you want, until we reach a figure that both the seller and the buyer are happy with.
SOLD!!
What happens once a sale price is agreed for my property?
Once a price has been agreed, we write up a Reservation Contract which has Name, Passport, NIE and solicitor information for both parties. It also has the agreed sale price, the 10% deposit to be paid and when, information regarding what is included in the sale and the proposed completion date for signing at the Notary (although this is not binding, depending on the circumstances of both parties). It is signed by the sellers and buyers and initialled on each page. Copies are given to both parties and also sent to each solicitor so they can proceed with the paperwork for the sale completion.
What deposit is taken when I agree to sell my property?
A holding deposit of a minimum of €3,000 is required from the buyer to put the property into "Reserved" and a Reservation Contract is drawn up for both buyer and seller to sign. This holding deposit is held in a Client Account until completion. To fully secure the sale of your property, the buyer is required to pay a deposit of 10% of the purchase price, normally within 14 days from the signing of the Reservation Contract, and this is paid to the seller solicitor. This deposit is non refundable to the buyer if they decide not to proceed with the transaction (unless a mortgage is involved). Should the seller withdraw from the sale then they are obliged to refund the 10% deposit plus a further 10% to the buyer. The Property Group retains €3,000 to cover all marketing and administration fees should either party withdraw from the sale after the signing of the Reservation Contract.
What documents are required to sell my property?
Escritura - deeds, Fin de Obra, utility bills, copy of your passport/residencia/TIE/DNI and NIE, Energy Performance Certificate and inventory of items included in the sale, solicitors details, or legal representative. You do not legally require an Abogado (solicitor), but would recommend, to ensure that all relevant taxes are paid. All structural modifications will require a license, that also includes a swimming pool. If these documents are not in place, then the purchasers solicitors/legal representative will insist on a retention being held back to pay for the document
What costs do I have to pay when selling my property?
The agents and Abogado (Spanish solicitor) legal representatives fees. Plus Valia – this is a capital gains tax, worked out by your local council – your solicitor/legal representative will confirm this amount. If you are not a fiscal resident then 3% non residents tax. IBI up to date. If you have communal facilities which you pay monthly for the upkeep, then this has to be paid up to date.
How long is the purchase to completion process?
The timescale really depends on whether it is a straight forward cash sale or mortgage. If it is a straight forward cash sale, then the completion date is agreed at the time of negotiations. The solicitors for both parties will keep you updated on the timescales. This can be anywhere between 2 weeks to 6 months, sometimes longer depending on buyers/sellers circumstances.
