The Selling Process
The Home Valuation
It is important that to price your home properly from the start. New listings receive a lot of attention. If your home is overpriced during the initial marketing campaign, you will lose many qualified buyers to competing properties. Your property will receive the most attention during the first two weeks on the market.
Once we have determined the sales price for your home, we need to prepare the sales agreement. This agreement will include if it is an exclusive or non exclusive sale, the commission rate and other pertinent details to allow us to best market your home to potential buyers.
Preparing for us to view your home
We will schedule a time for us to visit your home for taking photos for print, online and in some cases for an interactive video.
No other Agent is better equipped to market your property than Realty2Go-Tera. Your listing is offered on many websites, property portals and print media. All marketing campaigns are complete with professional photography, brochures and online virtual tours.
Retention Tax for a non-resident vendor
Up until January 1, 2007, all buyers of Spanish property from non-resident owners were required to withhold 5% of the total purchase price and pay it to the Spanish tax authorities due to the non-resident seller’s capital gains tax liability. The new law has cut this retention to 3%. Non-resident sellers and persons who buy from non-resident owners must remember that they are required to make this retention and declare it to the tax authorities by filing tax form 211. If they do not do this, the tax authorities can charge the retention to the property itself.
As a seller, once the sale has been completed, you will therefore need to file your capital gains tax form 212, indicating the capital gain payable, within 30 days of the sale taking place. Should this amount exceed the 3% deposit, then you will be entitled to a refund of the difference, or alternatively if the capital gains tax is more, you must pay the difference within the 30 days.