Once you agree to place your property with us, we will come and visit you, view the property and recommend a realistic valuation and agree to the sale price. We will then take photos, inside and out the property and then upload them onto our website. We will advertise your property on our extensive network of websites and social media platforms which include Facebook, Twitter, Pintrest as well as many property portals and websites throughout many different countries.
If you currently have a Spanish mortgage on the property, this can be transferred to the new purchaser, if required. This would be discussed between the bank in question and the buyer.
Please note that when selling a property, the vendor has certain tax responsibilities that need to be attended to, upon completion of sale. Therefore, professional tax advice should be taken from an expert.
For us to market your property, we would need the following paperwork: Title deeds, copy of the latest IBI receipt, copy of the latest community fees if aplicabale and a photocopy of DNI/NIE/passport, of the legal owner.
Once the purchase has been agreed, we would then provide the buyers lawyer with a copy of the escritura, a nota simple (land registry document which we would obtain) IBI and an inventory of any items involved in the sale and also a sales contract in at least Spanish and English. Providing all paperwork is in order we expect an exchange of contracts with a 10% deposit paid directly to the vendor. The time scale from agreement to signing the private contract is usually around 4 weeks.
Capital Gains Tax
Depending on whether you are a resident or not and also if you are re-investing into property, the amount of Capital Gains tax will vary. Your lawyer will be able to inform you of this.
What other taxes do I have to pay as a vendor?
It is al legal requirement that the vendor pay a tax known as the ‘Plusvalia’. This is a tax calculated by the Town Hall and is based on the years of ownership. It is not in anyway related to the Capital Gains Tax.
What length of time can completion take?
Completion very much depends on the agreement made between the two parties and can be as quick as a few weeks. If there are rental agreements or mortgages to be sorted out it can take longer.
Who prepares the sales contract?
The sales contract is prepared either by Bluewater Villas lawyer or the lawyer of your choice. We recommend it is a local lawyer as this is a lot quicker.
Can I change my mind once I received a deposit?
If you receive a deposit and then choose not to sell the property, you are legally bound to return the deposit received in duplicate to compensate the buyers.