Selling Your Property on the Costa Del Sol
The Costa del Sol is one of the most sought-after regions in Spain to buy a property. If you are selling a property on the glorious Costa del Sol, you should find an interested buyer in no time. Unfortunately, selling a property, no matter where you do it, can be stressful. However, there are ways to make the property selling experience much less stressful.
By understanding a few intricacies of the Spanish real estate market and taking steps to selling your property, you should have success. Whether selling a home, vacation property, or investment, these steps should help you.
Understand the Costa del Sol property market
The Costa del Sol property market is a fast-moving sector of the industry. Between the time you bought your property and are now ready to sell it, the Costa del Sol is likely to have changed greatly. The longer the time since buying your property, the more changes will have occurred within the real estate sector.
The market across the Costa del Sol is regularly competitive. It is also crowded as many investors and owners of properties seek to sell their homes and apartments. In addition, there are always new properties being built across the region.
Vacation homes are popular
Depending on the size of the property, it could take some time to sell a property. This means, you may have the property on the market for upwards to a year or more to sell it. If you want to sell your property, the most in-demand are properties the buyer can move into right away.
Low maintenance luxury vacation homes are also very popular for buyers. The majority of Costa del Sol property buyers are only looking for a vacation property or second home – not a primary residence.
Pricing in a saturated market
The Costa del Sol property market is saturated. Still, you can move your property, but knowing how to price it is vital. Your real estate agent will help you decide on a strategy and price to sell the property. The market is competitive, so be aware your property will need to be exceptional for it to be sold while similarly priced places are overlooked by buyers.
Two mistakes that are common amongst sellers is either overpricing or underpricing the property. Overprice it and buyers will not be interested. Underprice it and you lose out on your investment.
Physis Realty are experts at selling your property on the Costa del Sol
Hiring the right real estate agent when selling your property on the Costa del Sol
You must decide early on which real estate agent to hire. This is a big decision due to the agent being the conduit between the buyer and seller. You will find a variety of benefits to hiring an agent to sell the property. Agents know how to market the home or apartment and have a network of other agents that can assist in finding the right buyer.
When seeking out an agent, be sure the first has a knowledge of the local region. The company should appear to be as professional as possible. In addition, the real estate agency should offer advice on how to maximize your investment.
Physis Realy was awarded Best Realtor in Spain 2021 by Sophisticated Investor Magazine.
Real estate agent commissions and fees
When selling your property on the Costa del Sol most real estate agents provide clients a standardized commission and fee for selling the property. Costa del Sol commissions are generally about 5% plus IVA (sales tax). It is common for lower priced Costa del Sol properties to have a higher commission. The higher commission takes into account the effort and time it takes to advertise the home or apartment in the area.
Lawyers and tax advisors
It is vital to contact a lawyer and tax advisor to help in the sale of the property. This will ensure you meet all of the legal and tax requirements of selling the property. Being an expat, you may not be aware of the ins and outs of Spanish property sales. In addition, changes may have been made since you purchased the property.
Physis Realty has in-house lawyers who can contract with you directly, thus representing your overall position exclusively.
Negotiating the sale of your property on the Costa del Sol
Your real estate agent should negotiate the price of the property between the seller and buyer. Your agent fees should cover any negotiations between the buyer and yourself. Once the negotiations have been finalized, your lawyer will assume responsibility for the sale of the property. They will ensure the legalities of the sale are met. The lawyer and real estate agent will discuss various elements of the sale when needed.