Selling Your Marbella Home.
Selling a home in Marbella is a straightforward process. Once you’ve decided to sell, preparing your home before listing it to maximize its value is crucial. A modest investment can yield significant results. It’s important to analyze the market and consider using the pricing strategy tools provided in this guide to determine the sales price. Remember the “Golden Window of Opportunity” when setting your selling price. Feel free to consult with me to ensure you achieve the best possible sales price for your home.
Consider placing sale boards on your property to attract inquiries from suitable buyers. Additionally, it is essential to have professional photography, a video, and a 3D presentation. These visual tools can effectively showcase and sell your property before potential buyers visit it.
Select a knowledgeable agency that can assist you in organizing your home for viewings and provide valuable feedback. At LuxuryForSale.Properties, we prioritize this process to deliver exceptional service to our clients.
Our 5-step method ensures our selling clients achieve the highest possible market price. This guide provides a glimpse of the comprehensive services we offer to our clients. We hope the information provided here has been helpful and valuable to you. If you are ready to take the next steps, please contact us.
When selling your property, you’ll consider the potential selling price, expenses involved, the time it takes to complete the sale, and whether to handle the process on your own or hire a real estate agent to find a buyer and negotiate the deal.
Optimize Your Selling Strategy: Valuable Tips and Suggestions
Now, let’s address the first question: Price. When estimating the value of your property, several factors come into play. Firstly, your understanding of the property’s value and recent sales in your neighborhood can serve as valuable references. A professional valuer will consider these inputs. Additionally, knowing the cost of constructing a similar property or being aware of prices asked for similar properties in comparable areas can also help determine the price you can ask for when selling your property.
When you choose to work with a real estate agent, they will assess your property’s value using various criteria mentioned earlier. This includes estimating its replacement and current market value while considering comparable properties on the market or recently sold. If there’s a difference between your assessed value and the agent’s assessment, we at LuxuryForSale.Properties, advise seeking an official valuation from an independent firm of valuers for a more accurate evaluation.
Getting an official valuation for your property may require spending a few hundred euros, but it proves highly beneficial if you plan to apply for a mortgage loan. This loan can be used to secure the purchase of another property while yours is on the market or can be transferred to the buyer of your property to expedite the purchasing process.
For a deeper understanding of property valuation methodology, refer to our article “Valuations.” When determining your asking price for the property, it’s essential to account for the real estate agent’s fees and leave some flexibility to consider offers slightly below the initial cost.
Setting the correct price is crucial to minimize your property’s time on the market. While some sellers may wish to hold out for a higher price, it’s essential to consider the risk of the property becoming stale on the market. Prolonged listings can lead to reduced buyer interest, resulting in lower offers. Finding the right balance in pricing can help entice more buyers and increase the chances of a successful and timely sale.
A responsible real estate agent should inform the seller about the risks of setting an incorrect price. They may suggest delaying the property’s sale if they believe prices are expected to rise and the seller is open to waiting. In short:
To successfully sell a property, setting the right price is crucial. This means determining a price that aligns with current market conditions, allowing for a reasonable time frame for the sale. Additionally, considering the nature of the market on the Costa del Sol, where numerous properties are holiday homes or second residences, it’s essential to understand that potential buyers may not feel a sense of urgency to make a quick purchase. Considering all these factors will help attract the right buyers and facilitate a successful sale.
Next, you’ll consider your expenses.
Usually, the seller covers the commission for the agent’s services, but sometimes the buyer may hire the agent and pay their fees. The commission amount can differ based on the agent and the property’s selling price.
In a property transaction, the seller typically bears the notary fees unless there’s a prior agreement with the buyer. However, the buyer covers the cost of the first copy. Additionally, the seller is responsible for paying the “plusvalia,” a municipal tax based on the increase in land value. While this tax is usually the seller’s responsibility, there might be room for negotiation with the buyer in some instances.
When a seller who doesn’t reside in the country sells a property, they must have 5% of the potential capital gains withheld as tax. The capital gains tax is 35% of the profit from the sale, calculated by subtracting the purchase price, purchasing costs, and property improvement expenses from the selling price. If the tax withheld is more than the actual tax liability, the seller can request a refund from the tax office. However, if the tax withheld is less, the seller must pay the remaining amount to the tax office.
The 5% tax withholding has an exception: If the seller is an individual, has owned the property before December 31st, 1996, for more than ten years, and is subject to ordinary income tax or company tax, there won’t be any withholding tax.
Furthermore, the seller is responsible for paying all property taxes like I.B.I., garbage collection tax, and community fees (if applicable), along with regular expenses such as water, telephone, fuel, security, electricity, etc., until the property is transferred to the new owner. If the exact costs cannot be determined on the transfer date, it’s common for the buyer or their legal representative to ask for a deposit to ensure these payments are covered.
Next, you’ll need to consider whether you require the assistance of a real estate agent. If you decide to hire one, you’ll also have to determine if you want to work exclusively with a single agent or engage multiple agents.
A few sellers sell their property independently without involving a real estate agent. They believe this can save them from paying any agent’s commission or that they can handle the process more effectively. While this decision is respected, it’s essential to consider the responsibilities and complexities involved in selling a property independently.
Nevertheless, these sellers should be aware that they will need to take on various tasks for which they may not have the necessary expertise. Real estate agents typically handle these tasks daily, such as preparing property details and photos, arranging advertisements, marketing on property websites, responding to inquiries, scheduling viewings, collaborating with other agents and networks, negotiating offers, and overseeing the entire sales process until it is completed. Selling a property independently involves significant responsibilities and demands proper qualifications to manage these aspects effectively.
Additionally, providing guidance and support to the new homeowner as they settle into their new property is a demanding responsibility. This is particularly crucial because, in many instances, the buyer is a foreigner who may not speak Spanish and would prefer to communicate in their native language. A trustworthy and experienced real estate agent skilled in assisting new homebuyers is essential to ensure a smooth and comfortable experience for the buyer.
It’s worth mentioning that sellers are not always skilled negotiators when selling their property. Emotional attachment to their home can make the sales process more challenging for them.
After deciding to entrust your property’s sale to a real estate agent, the next question is whether to choose one agent or work with multiple agents. To assist you in evaluating the advantages and disadvantages of appointing a sole agent, we recommend reading our article “To be or not to be exclusive.” It will help you make an informed choice.
After determining your preferred selling method and setting an asking price, the next consideration is the condition of your property. You’ll need to assess what improvements or changes you can make to enhance its appeal and make it more attractive to potential buyers.
It’s crucial to approach your property assessment critically and remain objective about its weaknesses. Your real estate agent plays a significant role by providing honest advice and avoiding complacency. Take a walk around the property with your agent; an excellent professional will highlight any negative aspects and offer suggestions on how to enhance them. They may recommend fixing faulty elements, applying a fresh coat of paint, redecorating certain rooms, or even considering renovations if it’s beneficial for attracting potential buyers. A reliable agent will guide you toward making the necessary improvements to maximize your property’s appeal and value.
While it may boost your self-esteem to hear your agent praise your home, it’s even more valuable when they identify its flaws and offer improvement solutions. Address issues like damp patches or cracks on the walls. If the walls or ceilings require painting, don’t rely on promises to fix them before moving out – the first impression is crucial. Considering these matters beforehand will significantly enhance your property’s appeal to potential buyers.
When a potential buyer enters a house that is not in perfect condition, they are likely to feel disappointed and may make a lower offer. If the property appears outdated or requires significant renovations, which can be expensive and time-consuming, it’s essential to consider this when setting the price or negotiating offers. Awareness of these factors will help you make informed decisions during selling.
If you believe that particular renovations or changes would appeal to most buyers, it’s worth considering undertaking them. Remember that some buyers might not have the time or desire to deal with renovations themselves, which could be a factor in their decision not to purchase your home. Making thoughtful improvements can increase the likelihood of attracting more potential buyers and making your property more appealing.
If you’re uncertain about making subjective changes, don’t hesitate to seek advice from your agent. For instance, if you’re considering installing a new kitchen but are unsure if buyers will like it, consult your agent before investing. Consider the financial and time implications for the new owner if they were to renovate the kitchen themselves. It’s essential not to conceal any defects or faults; instead, focus on repairing them. Being transparent and proactive in addressing issues can positively impact potential buyers’ perceptions of your property.
Efforts should be made to create an inviting and cozy atmosphere on your property. Bright and well-lit houses are generally more appealing to buyers. Consider updating old light fittings in bathrooms that provide inadequate lighting, making the space dark and gloomy. Simple additions like a few spotlights can significantly improve the ambiance. Additionally, replace stained and worn-out taps with new ones; this small investment can make a remarkable difference in enhancing your bathroom’s overall look and feel. By making these relatively inexpensive changes, you can significantly enhance the attractiveness of your property to potential buyers.
Prepare your house for viewings by opening shutters and blinds, adjusting the temperature according to the weather, and turning on lights in dim areas. Place flowers in vases, avoid strong food odors, and keep pets away from visitors, as some people might be uncomfortable around animals. Aim to create a welcoming and comfortable environment for potential buyers.
Avoid overwhelming them with lengthy technical details; be ready to provide clear and straightforward answers to their questions.
Prepare for the sale by organizing all necessary documents in advance. This includes having copies of your property deed (“escritura”), records of expenses, tax receipts, such as community fees, and documentation related to your household staff, if applicable. Don’t procrastinate and wait until the last minute; get your paperwork in order and bills paid ahead of time to ensure a timely and smooth transaction.
Create a comprehensive list of your home’s suppliers and service providers, including their names, telephone numbers, and your contract or arrangement. Share this list with your agent. Your experience managing and maintaining the property will be valuable to the new owners, who will likely appreciate any information or advice you can offer. Providing this information will make their transition into their new home more accessible and help them settle in smoothly.
LuxuryForSale.Properties Real Estate.
The top real estate agent for selling your residence in Marbella. Founded in 2000 by David Fernandez, LuxuryForSale.Properties emerged after David achieved remarkable success in the construction project manager sector. He aspired to introduce his distinctive strategies to untapped markets in Spain.
According to David Fernandez, it has been his steadfast belief that entering any market would inevitably disrupt it. The crucial impression is established within five minutes when a potential buyer steps into a property. “My objective is to ensure that anyone seeking a new home experiences immediate contentment and comfort upon entering. This involves showcasing the property in its best light, paying meticulous attention to details, and perhaps adding stylish finishing touches. However, it also encompasses the level of assistance the agent can provide.”
The real estate sector appeared governed by old-fashioned principles, and I identified numerous opportunities to enhance the experience for both property buyers and sellers.
David ensured LuxuryForSale.Properties stood out from other agencies by providing informative materials and compelling photography. This empowered sellers to showcase their properties most favorably while giving buyers a glimpse into how their potential new homes could look and feel.
The results of my quality-focused approach are evident, as LuxuryForSale.Properties has become one of Marbella’s rapidly expanding real estate agencies. Each year since its establishment, the company has successfully launched new improvements, and our team now comprises a dedicated professionals fluent in multiple languages.
“We possess extensive knowledge of top-notch services,” David explains. “From cleaners to gardeners, we can handle the entire package. Moreover, we have our team of interior designers and collaborate with various flooring, furniture, and fittings companies to offer our customers the finest options at the most competitive prices.”
LuxuryForSale.Properties has built a distinguished standing as a frontrunner in the real estate sector, renowned for their expertise in representing properties and instilling a sense of trust and credibility throughout the process. This is a significant differentiating factor for the company in highly competitive markets like Majorca and the Costa Del Sol.
We takes pride in accommodating a wide range of budgets, with tens of thousands of properties available. Every sale is treated with equal respect and dedication, prioritizing clients’ needs. The commitment and knowledgeable service are evident in every viewing and maintained throughout each transaction.
We goes beyond the usual conclusion of a successful purchase, fostering enduring relationships with buyers and sellers. Recognizing that many buyers may find themselves in a new location unfamiliar with the local language, the company strives to facilitate a seamless and enjoyable integration into the community for new arrivals. Offering each client a coveted golden membership card, granting them privileged access to a diverse range of local events, services, and discounts. From exclusive parties in collaboration with renowned Marbella restaurants to networking gatherings where business owners connect over golf, LuxuryForSale.Properties actively fosters community by going the extra mile to bring people together.
“The luxury real estate market had remained stagnant for a significant period,” David remarks. “It was high time for a transformation, and we continue to explore additional avenues to enhance the customer experience. There are numerous exciting new developments on the horizon.”