PROPERTY SELLING GUIDE FOR MARBELLA & THE COSTA DEL SOL
Selling a property is a significant decision, and understanding the process can help ensure a smooth and successful sale. This guide outlines what to expect, key considerations before listing your home, and expert tips to maximize your property's value.
CHOOSING A TRUSTED REAL ESTATE AGENT
Selecting the right agent is crucial to achieving the best outcome in your property sale. A professional agent brings extensive market knowledge, industry expertise, and a vast network of potential buyers.
Your agent will provide an accurate property valuation, comparative market analysis, and insights into current trends in the Marbella real estate market, particularly in your area. They will also inform you of the costs and taxes involved throughout the sale process, ensuring complete transparency.
PREPARING YOUR HOME FOR SALE
Home Staging & Presentation
Decluttering is an essential first step. Removing personal items such as photographs, ornaments, and excess furniture helps create a neutral and inviting atmosphere. Worn-out furniture should be replaced or removed to enhance the overall look.
Creating a snagging list is also recommended—this involves identifying and fixing minor faults such as chipped paint, leaks, or heating malfunctions. Ensuring that all appliances, plumbing, and electrical systems are in working order prevents potential issues during buyer inspections.
Investing in a fresh coat of paint, floor polishing, and professional deep cleaning can make a significant difference. Your agent can also provide expert advice on staging your home to highlight its best features.
LISTING AGREEMENT
The listing agreement formalizes the terms of the sale between you and your agent. It specifies details such as:
- The type of agreement
- The listing period
- The asking price
- Commission structure (between 5 and 6% of the value of the property)
- Payment terms for the agent
Exclusive vs. Open Listings
Marbella operates in an open real estate market, allowing sellers to list their properties with multiple agencies. The agency that secures the sale receives the commission.
Alternatively, many sellers opt for an exclusive listing agreement, giving one agency sole marketing rights. This option ensures a more personalized approach, with dedicated marketing efforts tailored specifically to your property. It prevents inconsistent pricing across platforms and creates a more prestigious and appealing presence in the market.
PROPERTY VIEWINGS
Viewings are a critical stage in the sales process. Ensuring your property is in pristine condition before photographs and marketing materials are created is essential. Any ongoing maintenance or renovation work should be completed before viewings begin.
Providing your agent with flexible access to conduct viewings can significantly increase your chances of a successful sale. Serious buyers often have tight schedules, and accommodating their availability can make a difference.
Virtual Tours
With advancements in technology, virtual property tours have become increasingly popular, allowing buyers to explore your home remotely. Many serious buyers finalize purchases solely through virtual viewings. Your agent can facilitate this process while ensuring potential buyers are thoroughly vetted beforehand.
OFFERS & NEGOTIATIONS
Once viewings generate interest, your agent will present you with offers from potential buyers. They will provide valuable feedback, compare previous sales data, and guide you through the negotiation process to help you make an informed decision.
A skilled agent will never pressure you into accepting an offer but will ensure you fully understand your options while offering professional advice on market conditions and buyer interest.
CONTRACT SIGNING & RESERVATION AGREEMENT
Once you accept an offer, your agent will prepare a reservation contract outlining all agreed-upon terms. We strongly recommend hiring a lawyer at this stage to review contracts and ensure all legal requirements are met.
Key Contract Steps:
- The buyer signs the reservation contract and pays a reservation fee.
- The buyer signs a private purchase contract, typically paying a 10% deposit.
- This contract is legally binding, and unless specific conditions apply, the deposit is non-refundable. The sale can only be terminated under legal or technical due diligence findings.
FINALIZING THE SALE: TITLE DEED SIGNING
Once all legal prerequisites are met, your agent and lawyer will guide you through the final steps of the sale.
Completion Process:
- All parties involved must attend the signing of the title deed at the notary's office.
- The remaining balance is paid, and legal ownership of the property transfers to the buyer.
- The notary registers the new ownership, finalizing the transaction.
Taxes
What taxes are required when selling a property in Spain, and when should they be paid?
Our comprehensive Tax Guide provides detailed information on who is responsible for paying taxes, what taxes apply, and when they must be paid throughout the selling process. Explore our guide for a clear and thorough breakdown of all tax obligations.
HOW WE CAN HELP
At GIL ESTATES, our team of professionals is committed to ensuring a seamless and successful property sale. We will be by your side throughout the process, offering expert advice, marketing strategies, and full support.
Our priority is to meet your expectations, optimize your property's presentation, and secure the best possible outcome for your sale.
Let's achieve success together!