Read A Compact Information To Sell Your Property In Marbella

Selling a pre-owned property in the region of Marbella might be a concern for various investors residing in Spain. Some would have found the process difficult, but it is easy to sell the property to potential buyers. The procedure is similar to buying. The only change is the phrase ‘Buy’ to ‘Sell’. 

This blog post delivers easy information for people looking for a guide for selling their luxury property in the region of Marbella. Great Marbella Estates always wants investors to have clarity in their thoughts while buying or selling a property in Marbella and Costa Del Sol. Here you will come across a step-by-step guide and other requisite pointer information about the property selling process. 

• Reserve the property

In the initial stage, the buyer and firm draft documents to seal the agreement. As a vendor, it is responsible for showing that the buyer has shown interest in buying the property. This is where the procedure of property selling takes place. Once the documents are sealed, the seller party cannot show the property to any other prospective buyer. Or the property gets stuck off from the market. 

• Process of searching

Every buyer wants some guarantee along with the property, including that property should be free. Debts, liens, charges and encumbrances; to make sure, it is important to conduct obligatory searches. Also, to complete the sale process before the notary, it is essential to make sure that the search work goes smoothly. You can start searching soon for a reputed selling procedure for various reasons. 

• Creation of a Private Contract 

With consideration of positive due diligence by the searches conducted by the buyer, it gets confirmed that the property is set to sell. The next step is to draft a Private Contract and sign it on behalf of both parties, in special cases where the stage of satisfactory conclusion of due diligence is scheduled during the completion stage. There is no need to sign the Private Contract. 

• The process of completion

Before completion, getting the mortgage cancellation done is very important. This will include clearing the outstanding amounts of the mortgage and paying the cancellation fees too. This process usually takes place during the complete procedure of the sale. 

What certificates will you require in the selling process? 

To determine the fiscal status, it is necessary to obtain the fiscal certificate. Along with that buyer wants to look for a confirmation from the seller’s end that shows the financial status as a community member. 

What are debts related to property? 

Payables such as water, electricity bills, IBI tax, Basura tax and property owners association will. All the documents should be updated to the date of signing the completion papers. 

What are necessary calculations?

Until you are a property owner, the seller should calculate the dates of bills and tax payments. The balance amount will be considered in consideration of the final amount received. 

• Utility Contracts and Standing Orders

The IBI/Basura registrations will be immediately cancelled once the purchasers have finished their inscriptions. We suggest you check your accounts to ensure no additional sums have been charged by direct debit. Alternatively, you can stop your direct debits with the bank immediately after the transaction.

What are the taxation procedures? 

Being a non-resident in Spain, you will have to pay taxes in two different stages. To get the taxes refunded, you need to be updated with the payment of non-resident tax once a year. 

Conclusion 

This blog post was about the ‘Selling a luxury property in Marbella, Costa Del Sol’. For more information on the selling procedure, you can contact our Great Marbella Estates team.