There are several reasons why you may need to sell your Spanish property quickly – perhaps you need to return to live in home country or you have been offered another job abroad, or maybe you need to help your elderly parents sell up if they need to go into care or are moving in with you.
In Spain, 29 percent of homes take between three months and a year to sell, but 21 percent are sold in approximately 90 days, and 20 percent in just one week. This means that it is possible to sell quickly if you need to. It may seem tricky, but if you have the right strategies in place, it could easier than you think.
READ ALSO – MAPS: How much does it cost to buy a home in Spain in 2024?
1. Put it on the market at a fair price
According to experts at financial site Help My Cash, the key to selling a flat or house quickly is in the price – if you list it at market value, you could sell it in less than 30 days. If you’re asking for a higher price, chances are it will stay on the market for longer.
A home that is put up for sale in line with market conditions usually takes between one and two months to sell, and the transaction can even close in seven days if you need it to.
It’s important to study the market well. Get valuations from several different estate agencies to see the average so you can know you’re putting it on at a reasonable price.
In order to find, look around your neighbourhood to see what other similar properties in the area have sold for or are on the market for. You can find this information in local estate agencies, as well as online portals such as Idealista and Fotocasa.
If after signing up with an agency and publishing ads online, you don’t receive any viewings, it’s likely you have over valued your property and are asking too much.
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2. Get your paperwork in order beforehand
Another trick to selling up quickly is to have all your paperwork ready, so that when you get an offer, you can begin the process straight away. This can greatly affect the time it takes to complete.
These include the nota simple to show the property is registered under your name, the energy certification, the cédula de habitabilidad (certificate of liveability), plans of the property and the deed of sale from when you bought it.
You may also need details from your community of owners to show if you owe any debts, as well as previous utility bills and IBI or property tax tax receipts.
READ ALSO: What is Spain’s IBI tax and how do I pay it?
3. Find out how much you’ll have to pay in fees
Next, it’s important to calculate how much in fees you will need to pay to sell your property. The expenses for the sale of a home in Spain are between five and 15 percent of the sale price, depending on the type of real estate agency you use.
If you know what all these fees are upfront then you’ll be able to tell straight away whether or not an offer is too low for you to accept.
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4. Improve on aesthetics
Another thing you can improve on to speed up getting an offer is the aesthetics of your property. Experts recommend painting so that the walls are fresh and don’t have marks or stains on, using lighting to make areas look brighter or cosier, as well as depersonalising by removing any objects or decorative items that may not appeal to everyone.
Cleaning, tidying and repairing any broken items such as leaking shower heads and handles etc can also help. You can also improve the look of your property by adding fresh flowers or other house plants, as well as cushions and lamps.
READ ALSO – Navigating Spain’s real estate market: A guide for American homebuyers
5. Be open to negotiation
Finally, there are several ways you can negotiate to sell your property faster too. This includes highlighting factors that add value such as recent renovations, outside space or terraces.
If you’ve had several valuations, you can also show these to potential buyers to convince them the property is a fair price. You also need to be open to different offers – almost all buyers ask for discounts of between 5 and 20 percent, so you need be willing to negotiate to ultimately get what you want.