Selling your property in Spain without worries!

Spain, the land of beautiful beaches and bustling cities, attracts thousands of people each year in search of a slice of paradise. Not only is acquiring a property in Spain an extensive process, so is selling it. If you have decided to sell your property in Spain, here are a few tips to make this process smooth and successful.

Prepare your documentation

Make sure all your papers are in order. Spanish real estate transactions require various documents, including title deeds, energy certificates and any building permits. Good preparation strengthens your negotiating position and gives potential buyers confidence. Pay particular attention to the documents below:

• Title and debts: Make sure you have detailed and current proof of ownership of your property. The title deed(nota simple) and cadastral extract (consulta descriptiva del Catastro) must be correct and contain all relevant details. In addition, it is crucial to check that there are no outstanding debts or mortgage obligations on the property. Also keep in mind that if the seller is a corporation, there is specific documentation that the corporation must provide in order to sell the property.
• Energy certificate: In Spain, it is mandatory to have an energy certificate when selling a property. This certificate gives potential buyers insight into the energy efficiency of the property. Make sure you have this document in hand and that it is current.
• Notarial Deed: The transfer of property in Spain is done through the notarial deed(Escritura de Compraventa). Both the seller and buyer must be present at the notary’s office to sign the deed. It is advisable to bring a professional translator with you if you do not have a full command of the Spanish language. Otherwise, it is also possible through your attorney by means of a notarized power of attorney, so that he/she can go to the notary on your behalf and sign the notarized deed.
• The electricity, water, municipal tax (IBI) and garbage bills: In some cases, you must provide a certificate before the notary showing that you are up-to-date with various taxes and contributions to the owners’ association.

Local market knowledge

Make sure you understand the local real estate market. Prices vary widely by region, so it is important to be realistic when determining the sale price. Research similar properties in the area and adjust your price accordingly.

Sales Strategy

Choose the right sales strategy. Whether using local real estate agents, online platforms or a combination of both, make sure you market your property the right way. An effective marketing strategy increases your property’s visibility and attracts potential buyers. At OTIS Legal Group, we are happy to guide you through this process and contact the various parties.

Overcoming language barriers

Although many Spaniards speak English, being able to speak some Spanish can be helpful, especially when communicating with local buyers or real estate agents. This can facilitate communication and increase trust between all parties involved. The easiest way is to hire a lawyer who is fluent in both Dutch and Spanish. Our lawyers are proficient in both Dutch and Spanish and are familiar with Spanish (and Dutch) culture. It is nice to be able to communicate well with all parties such as the bank, notary, town hall, the real estate agent, etc. in their own language.

Arrange legal advice

The legal landscape in Spain can be complex, and it is essential to ensure that all legal aspects of the sale are properly handled. Here are some important points to keep in mind:

1. Taxes and fees: Be aware of the taxes and fees associated with selling property in Spain. This includes the Plusvalía tax, which is calculated based on the increase in the value of the land. Properly estimating these costs is vital to avoid financial surprises.
2. Non-Residents Tax: If you are not a tax resident in Spain, you need to be aware of the tax obligations arising from the sale of your property. Specific rules apply to non-residents, and it is wise to seek tax advice to ensure you meet all obligations.
3. Local rules and regulations: Real estate laws and regulations sometimes vary from region to region in Spain. It is important to be aware of local rules and regulations that may affect sales. A local attorney can provide valuable advice in this regard.

Engaging a skilled and experienced lawyer with expertise in real estate transactions in Spain is invaluable. Our attorneys can guide you through the entire process, provide legal advice, and ensure that all required documentation is submitted correctly. It is an investment in legal security that can prevent problems in the future and keep the sales process running smoothly.

Contact us without obligation

Selling your property in Spain can be an interesting adventure, especially if you are well prepared. Follow these tips and prepare for a successful selling experience in beautiful Spain. Feel free to contact OTIS Legal Group for more information.