Our Service to Sellers
At Private Property we only market luxury homes. Full details of all properties are only released to pre-approved buyers and then only viewed by those prospective clients who have shown an interest in your property after our detailed presentation. This ensures that only genuine, potential buyers view your home, respecting your privacy and time. Private Property has a global network of high net worth individuals enabling us a maximum and controlled exposure for your property. Through this global network and strategic partnerships, your property gains exposure to the right people in a highly targeted manner. We take a different attitude towards the marketing of properties than most others, a more personalised approach whilst having the ability to reach qualified buyers who are looking for luxury property. Our affiliations with some of the most prestigious local, national and international real estate agents allows us increased promotion, but by carefully selecting and monitoring these affiliates we are mindful not to over expose any particular property, retaining its exclusive nature or appeal. We market specific properties to specific audiences using personal, informative and innovative marketing methods.
Selling a Property in Marbella
It usual practice in that the seller of the property pays the real estate agent's commission, which may vary depending on the agency and the price of the property.
Unless agreed otherwise, notary fees are paid by the seller, except for the cost of the first copy which is paid by the purchaser. Notary fees are fixed by the law on the basis of a scale. Another tax to be paid by the seller, unless agreed otherwise, is "plusvalia", a municipal tax on the increase in value of the land alone.
Costs of selling
A non-resident seller is subject to a 3% tax withholding on account of any possible capital gains. Capital gains tax is 18% of the profit of the sale. This profit is the difference between the selling price and the purchase price plus all purchasing costs and costs on improvements of the property. If the seller's liability is less than the 3% withheld at the time of the sale, the seller can claim it back from the tax office. If higher, the seller will have to pay the difference to the tax office. One exception to this is when the property has been owned by the vendor, at the date of 31st of December 1996, for more than 10 years and when the vendor is an individual (not a non-resident company). Also there is no retention when the vendor is subject to the normal income tax for residents or to companies' tax.
All property taxes such as I.B.I, garbage collection tax, community fees if any as well as normal running costs such as electricity, telephone, water, etc. should be paid up to the date the property is transferred to the new owner. If these cannot be calculated exactly on that date, it is usual for money to be left in deposit to guarantee these payments by the buyer or their legal representative.
There are certain technical means by which a property is valued and it is important to follow them and to take advice from your lawyer. Formal property valuations are governed by the Ministerial Order of 30/11/94, in which it is established that sound judgment and factual data are used in all valuations. These may be based on one of the following:
- Maximum legal value - the maximum sales price of a property, which is subject to the controls of subsidised housing.
- Replacement cost - the total required investment to reconstruct the property with the same characteristics. The physical and functional depreciation of the property are variable and must be taken into account in the calculation.
- Market value - the net value that could be expected to be achieved by a seller for the sale of the property at the time of the valuation, by means of proper marketing and assuming that there is a ready, willing and able purchaser. It also assumes that both the seller and purchaser are acting of their own free will.
The legislation also defines the distinctive methods that can be used to calculate the market value:
- a) Comparative market analysis based on the principle of substitution, in which the value is calculated from the recent sales of six properties with similar characteristics;
- b) Fixed residual yield based on the principle of greatest and best use, taking into account that the property will have to adapt to changing conditions to obtain the optimum use possible in its specific sector of the market in accordance with the location;
- c) Capitalisation of the current income yield is the price that an average investor would pay for the acquisition of a property in function of the expectations of the yield derived from its exploitation.
The life span is determined by the type of property and residential property has an estimated life span of 100 years. The valuations are normally made on the constructed area of the properties which is why it is important to have the right measurements. Frequently, the built area indicated in the title deed does not reflect the actual area, either because it originally failed to include all the construction, or because there have been extensions made at a later date.
Energy Certificate for properties in Spain
On the 1st of June 2013 Spain followed the rest of the EU and introduced a new law (Royal Decree 235/2013) making it compulsory for property owners to obtain an Energy Performance Certificate (Certificado de Eficiencia Energética or CEE) in order to sell or rent their property. Fines are issued to both property owners and their agents if the property is marketed for sale or rent without proof that a CEE has been requisitioned.
The Decree affects the obligation to make available to the buyers or tenants of buildings an energy performance certificate which must include objective information about the energy efficiency of a building and reference values such as energy requirements in order that the owners or tenants of the building or unit to compare and assess their efficiency energy. Evaluating and comparing the energy performance of buildings will favour the promotion of energy-efficient buildings and energy saving investments.
In addition, this Royal Decree helps to inform the CO2 emissions by using energy from emission sources in the sector residential, which will facilitate the adoption of measures to reduce emissions and improve the energy rating of buildings.
When buildings or units are sold or rented, the energy performance certificate or a copy of it must be shown to the purchaser or potential new tenant in the terms set out in the basic method. The certificate is included in an Autonomic Registry and is valid for ten years. The Certificate must be present in every piece of promotional material, which encourages people to buy or rent the building, house or commercial premises, and also must be available to interested parties in the form of a digital tag when any property is put on the market.
All buildings, houses and commercial premises that are sold or rented must have an Energy Performance Certificate, which can only be issued after assessment by accredited energy technician.
An architect, engineer or quantity surveyor can issue the Energy Performance Certificate. They will access the property and rate it from A to G according to how energy efficient it is. To not have this certificate will be a breach of the Royal Decree and will incur fines. Prices vary according to the size of property and the company who provide the evaluation.
Under Current CEE Price guide
- 129 Euros for a property up to100m²
- 139 Euros for a property between 100m² and 120m²
- 149 Euros for a property between 120m² and 150m²
- 169 Euros for a property between 150m² and 175m²
- 189 Euros for a property between 175m² and 200m²
- 209 Euros for a property more than 200m²
- 249 Euros for a property more than 500m²
Questions about the Energy Certificate
What is an energy performance certificate?
It is a report that describes how efficient a home is in terms of energy consumption and also gives recommendations on how to save money and make your home more efficient. It assigns an energy rating to each home on a scale, which ranges from A being the most efficient to G being the least efficient.
Who needs to get an energy certificate?
All property owners wishing to sell or to rent their properties must have an EPC.
Can I sell or rent my property without an energy certificate?
No. The certificate must be included in the documentation, which the owner has to make available to the buyer or tenant. An original copy of the certificate must be available before the transaction can be closed.
Is the energy certificate needed for all buildings?
No. There are a few exceptions:
- a) Buildings and monuments officially protected as part of a designated environment or because of their special architectural or historic.
- b) Buildings or parts of buildings used exclusively as places of worship and for religious activities.
- c) Temporary buildings with a planned time of use exceeding two years.
- d) Industrial buildings, defence and agricultural or parts thereof, in the part for workshops, industrial processes, defence and non-residential agricultural.
- e) Buildings or parts of buildings insulated with a total useful floor area of less than 50 m2.
- f) Building purchased for major renovations or demolition.
How long does the test take?
Once an appointment has been made the actual test takes less than an hour and you will receive your rating and certificate approximately 7 to 10 days later.
How long is the energy certificate valid for?
The certificate is valid for 10 years. Owners will not have to obtain a new certificate during this period unless they renovate or change the property in any way.