Selling a property in Marbella
07/06/2021 by Gary Francis
When you start the process of selling a property in Marbella it can appear to be a daunting task and choosing your estate agent is one of your most important decisions. When selling a property in Marbella you want your property presented correctly, marketed correctly and you want to know that the agent is only viewing your property with prospective buyers who have the ability to purchase your house. At Private Property full details of all properties are only released to 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.
When selling a property in Marbella the presentation of the house is very important, you only get one first impression, we all know that first impressions count and because of that it should be a good one. When we start to market your property we are entering a very competitive marketplace where the competition are similar homes to yours. Regardless of whether your property is being viewed in person, on line or via a video call the first impression will usually determine if your home is chosen or shortlisted or neither. Read our blog on presenting your property for sale here or from our BLOG
So, once we have sold your property, your lawyer will prepare all the necessary paperwork and at the same time will give you a breakdown of your selling costs.
Costs of 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.
When selling a property in Marbella 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.