About this guide
This is the latest information you will need, if you’re thinking about selling property in or around Javea, on the Costa Blanca in Spain.
What’s covered in this Javea property sellers guide
- Should you sell?
- Understand your finances
- Buy or rent
- Who will sell your property?
- Sale price
- Prepare your home for selling
- Get a lawyer or fiscal rep
- Accept an offer
- Sales agreement
- Exchanging contracts
- Time to move
- Pay the lawyer and agent
- Our selling services
Just the thought of selling can be terrifying, especially if buying again at the same time!
Use this guide as a check list and a general go-to when you have any doubt about the process of selling your property.
You need to ask yourself…
Should you sell at all?
A changing market will affect the outcome of any sale.
If house prices are rising: ask yourself if you can afford to buy again.
And if prices are dropping; buying again will be in your favour, but remember you may not get the price you want.
If you need to downsize; make a list of the pros and cons and take a look our guide for downsizing your home.
Is money an issue? If so, what are your options and can you afford to sell?
Are you divorcing or separating? Get informed as to what happens to your jointly owned property.
If you’re selling because your home is now too small, it may be a cheaper option to price up an extension or conversion. The costs of selling a home can be quite hefty, so extending your home could save you money.
If you can afford to rent your property out? Maybe selling right now isn’t the better option.
Understand your finances
If you have a mortgage, find out what the outstanding balance is and if there are early payment penalty fees.
Get a property valuation to see how much your home is worth in today’s market, to then do your sums and estimate how much you’ll have after you’ve paid of the mortgage or not.
Obviously these figures are an estimation and won’t be exact until you get an offer and have contracts drawn up.
lf buying again, get an idea of costs if you are buying again with a mortgage, how much they’ll lend you, how much you need etc.
One of the most important things to consider when selling a home are the costs involved as a seller. Have a look at the Javea property sellers guide.
Buy or Rent in or around Javea
If moving home stresses you out a lot, it may be a good idea to consider renting until you find your next home.
You wouldn’t feel pressured to sell, and you may find a rental property in Javea that is exactly right for you. Just think, if the market is low, then you won’t have to sell for a low price.
And, you won’t feel rushed into buying a not-so-perfect home if you find a buyer sooner than anticipated.
Who will sell your property?
If choosing a local estate agent, do a bit of research and get in touch with a few to see what each offers. You’ll know who to work with after that.
Compare agents by how quickly they sell property, how close to asking price are they selling for and how long they’ve been working and how successful they are.
Decide whether you want sole agency or multi agency set up. Ask them what do you get for each service.
Agree a fee for selling your property and ask what this fee includes. Sometimes paying less actually reflects the service you get and paying too much for too little service isn’t what you want either.
Read the sales authorisation contract property and make sure you fully understand it – don’t be afraid to ask questions, no matter how silly you think they may seem.
Ask to proof read the property details used to market your property. By taking a proactive roll in this step often means the finer details about your property will be portrayed correctly to potential buyers.
What price are you selling for?
Do you know how much your property is worth?
The price of your home isn’t based on what your neighbour sold for, neither is it based on the price of the next property you want to buy.
Get a few valuations from some reputable agencies to compare and discuss with them.
Research is everything when selling a home. Get online and check out house prices for like properties in the same area.
Any buyer will try to negotiate the price down. Depending on your personal situation and how quick you want to sell and move on with life, will depend on how much percentage you add to cover a drop on the price.
Get your paperwork in order
Sales can be lost because of sloppy paperwork or documents that need to be prepared. Time is of the essence when someone expresses interest in your home, so get your paperwork in order soon rather than later. We’re happy to assist and guide you on this, so ask away!
Prepare your home for selling!
One of the first things we’d suggest is to ventilate your home before any viewings and if you’re not in residence, tell your agent to. There’s nothing worse than showing a house that stinks of cooking, dog or musty old air – make it fresh!
Check everything is working! If it’s not, fix it or remove it. For example taps, boilers, lights and if you can’t repair or remove it, think about replacing it and if this isn’t an option, tell your agent so they can be upfront about it to their clients.
Clean and tidy up. A nice smelling home that looks in good order will show better.
Staging a home can actually get you a better price within a shorter time-frame.
If you can; get a friend to come and give you an opinion or give you some help in making it look its best or hire a professional who will do wonders.
Get a lawyer or fiscal rep
Choose a solicitor / lawyer or fiscal representative to do the conveyancing and legal work for you. Choose one before you start the selling process and instruct them once you get an offer.
Once you have found a lawyer or know who is going to represent you; get a quote as to how much their service will cost before selling.
After completion, confirm all the changes of name have been carried out on all services Eg. electric, water, rates, rubbish collection etc.
Accept an offer
After so many viewings (or not) you’ll get an offer – that’s great news! Our philosophy is to pass on all offers – although we’ll turn absurd offers down on your behalf and then tell you!
If you get an offer you’re not happy with; you can turn it down or make a counter-offer in the hope of negotiating up.
When somebody makes you an offer you’re happy to accept, you must accept the offer formally and in writing.
Once the reservation payment had been paid you can take the property off the market with your agents.
Accepting an offer is not legally binding until you accept it in writing.
Guzumping is illegal in Spain, so once you have formally accepted an offer you can’t accept a higher offer without being penalised.
Sales agreement (reservation) and draft contracts
Vicens Ash draw up sales agreements for clients to formally accept offers. This is to commit both parties and to take the property off the market with other agents.
Vicens Ash ask for 5,000 euros for property under 500k and 10,000 euros for property over 500k as reservation fees. This is part payment of the 10% to be paid upon exchanging contracts.
Finer details will be discussed, agreed and written into the draft contract. Items such as sale price, payment scheme, completion dates.
Confirm what fixtures and fittings are staying and have it written in to an accompanying inventory.
Agreement on full gas tanks or pool and garden maintenance that has already been paid will be discussed and taken into consideration when finalising the payment schedule and utilities.
Signing and exchanging contracts
Contracts (contrato de arras) is usually signed within 21-28 days of making an offer.
On signing contracts, the buyer pays the balance of the 10%.
Once the contracts have been signed and exchanged, you are legally committed to buying the property.
If the buyer pulls out of the purchase, they will forfeit their 10% deposit.
If the seller pulls out of the sale, they have to return the deposit and pay the same sum again to the buyers as a penalty – this is Spanish law.
You should still have house insurance and will be responsible for looking after the property and its maintenance until sold.
Time to move!
It’s less stressful if you move just before completion.
All fixtures and fittings and furniture included in the contract should still be in place.
Vicens Ash will organise a technical visit for the buyer. At the property. So, the seller can show them how everything works.
Completion at the notary
Vicens Ash accompany you to the notary, unless otherwise advised.
If there is a mortgage on the property, the cancellation will be signed and it will be paid off.
Upon signing the public deed (Escritura Pública) you accept payment and hand over the keys…..congratulations. Yay!
You, the seller, pays any capital gains tax due to the Spanish treasurer.
Either the Notary or the buyers lawyer will organise for the transfer of ownership to be registered with the land registry.
You’ll receive a simple copy of the signed deed.
Pay the lawyer and agent
Usually this has been accounted for during the sales process whilst discussing the payment schedule.
Your lawyer or fiscal rep will send you a bill covering their final costs after completion. If you are buying again, it may be charged separately or on the same bill.
Are you thinking of selling a property in Javea, Benitachell or Jesus Pobre?
We like to sell property sooner, rather than later.
With our fully comprehensive approach from start to finish – we take the stress out of selling property!
Contact us now, for a no obligation valuation of your property and if you want to go ahead put it on the market with us, Vicens Ash real estate agent in Javea will give you the following:
- Free property valuation
- Advanced digital imagery
- Floor plans (free for exclusives or available on request)
- Extensive IT marketing
- Information and organising of energy and habitation certificates
- Professional negotiation
- Nota simple (property debt certificate)
- Sellers agreement, reservation and contract
- Furniture inventories
- Breakdown of monies
- Currency exchange
- Notary appointment
- Mortgage cancellations
- After-sales service
Whether you live in Spain all year round or not, ask us your questions. Voice your doubts. Use our expertise.
We’re here to help.
Property is our passion
We want all our clients to be happy with the service we give.
We’re flexible and open to suggestions.
Selling property in Javea for 25 years, we’ve made many dreams come true and we’ve helped solve lots of problems and you know what?
We believe that no problem is too big to solve. It may take a bit more time and energy but we get most problems sorted. To get sales signed and get you moved on.
So, even if you’re not sure whether to sell your home, we hope this Javea property sellers guide 2020 helps you to make an informed decision – not only with how the selling process works but with how to choose an agent too!
If you need help with any of the points mentioned in this sellers guide. like more information or recommendations for lawyers, fiscal representation, removals, house insurance – just reach out and send us a quick email or give us a quick call.
After selling with us, you’ll agree we’re worth every penny!