SELLING: A STEP BY STEP GUIDE
An agent will be very hepful to a seller. He will advise about selling prices on your area.
Agents fees are usually paid by the seller as a percentage of the selling (5 %).
Once that you have agrred selling price with buyer and after your agent assistance, there are some very important legal requirements to complete the sale . That’s why you must appoint a lawyer to ensure that the entire process it’s trouble free.
DEPOSIT – EXCHANGE PRIVATE CONTRACTS
This is a very impòrtant agreement, you must receive a holding deposit, and your property it will be taken off the market.
Before to agreed any price , you must check legal cost involved:
-Check your capital gain.
-Plusvalia (municipality Tax).
Legal cost must be agreed , do not accept Fees Payable According Spanish Law, you must agreed total fees paid by buyer.
On exchange private agrement DO NOT GET POSESION (keys) to buyer until finnal payment at completion time.
You must agreed than money received is not “refundable” as a penalty if transaction
At completion date do not acept:
- Cash payments, all payments must be done by certified Bankers Draft.
- Never agreed undeclared price deed. Price on title deeds must be minimum all money received.
Our Law Firm have to cancell your contract reference to the property supply expenses and to cancell direct debits.
It is very important to organise your Spanish Income & wealth Tax and apply for your retention 3 % money back , if possible.