Selling Property in Spain

In Spain the buying and selling operations are very similar but we would always recommend looking at the process again from the sellers point of view.

We would always recommend using a trustworthy and reliable estate agent that is based in the area of the property to be sold, due to the fact they should have the knowledge and know the demand in that area.  Also they should be fully aware of the sales strategies and already have access to potential customers.  A good estate agent will be able to promote your property professionally and efficiently and at the correct price.

Obviously using and estate agent is not compulsory but now adays with the fast moving social media platforms, marketing a property to sell quickly and at the best price is a professional career.

 A seller would have to agree and sign an estate agents sales agreement, but always read and check carefully before signing.  Eg some agents will try to get exclusivity to your property sale but this is not always the best option for the client.

The majority of the estate agents in Spain will charge a standard 5% commission which is only paid once the property has been sold and only to the listing agent that sells it. This 5% pays for all of the:- Advertising, Marketing materials, Social Media Marketing and content, accompanied viewings, guidance and help throughout the sales process, sales boards, various property portals, etc. Also in Spain every well established and trustworthy agent has access to these various portals so all agents can see all properties for sale therefore the commission would be shared between two agents. If one agent brought the client to view another agents listing each agent would get 50% of the commission charged, therefore if sellers want to maximise their opportunities to sell and market their properties, other agents with buyers will obviously contact the listing agents that are getting a full 5%.   

As a professional and responsible agent we do not offer advice on legal & tax matters and would always recommend our clients take advice from their lawyers who should oversee the full sales process and ensure all existing legislation is covered and all corresponding taxes are duly paid.

The documents that are legally required to sell a property in Spain are as follows

• Nota Simple (an extract from the property register)
• Copia de Escritura (Title Deeds)
• Licencia de Primera Ocupacion (First occupation licence or Certificate of habitability)
• Copy of IBI receipt (local council rates)
• Copy of Basura Receipt (Rubbish tax)
• EPC/CEE (Energy performance certificate)
• Cadastral ref number (official and dedicated identifier for that property.
• NIE Number & copy passports (ID documents)
• Inventory (furniture and everything that is being sold with the property)