Selling your home can be a stressful task, with so much to think about and organize. So, here’s a guide for the best way to sell your home in Mijas. You’ll want to find out how much your property is worth, how quickly you can sell your property, and the documents you will need to start the process.
- What is the best way to sell a property in Mijas?
Spain is one of the most popular places in the world for expats to buy and to move to. Lots of people buy to have a second home in the sun and there are those that look for an investment abroad. Investing in property in Mijas has proven to give an excellent return.
This means the housing market on the Costa del Sol is very active. However, like with most things in Spain, having a professional to guide you through the process is one of the most important things you can do when selling your home.
From dealing with the legalities to translating for you, helping to ensure that your buyers are able to complete the transaction, and keeping your sale going within the time frame you want, a reputable estate agent is the absolute best way to ensure a smooth and problem-free sale.
- What is my property worth in Mijas?
Mijas is one of the most popular areas in Spain and the housing market is currently booming.
Properties are worth approximately 140.000.- € for a one-bedroom apartment, 190.000.- for a two-bedroom apartment, 350.000.- € for a townhouse, and a villa usually starts at around 800.000 up to millions of Euros.
Speak to an estate agent to get an accurate valuation of your property and move your sale forward.
- How quickly can you sell your property on the Costa del Sol?
Spain’s housing market is booming and many homes are selling faster than they used to.
The paperwork and process can take some time, once these are sorted; expect to sell within a period of around three to four months depending on the property and your asking price. Do leave room for a bit of negotiation.
– What do you have to pay when selling a house in Mijas?
1) Plusvalia – sellers have to pay a tax based on the incremental value of the land which the property occupies over the number of years you have been the owner of the latter.
2) Community Fees: Make sure your Community Fees are up to date – usually, you will have to present a Community Certificate to the buyer when signing the Title Deed.
3) IBI & Utilities – make sure your utility bills are up to date as these will need to be settled up to the date of sale. You will need to provide the original proof of payment at the signing. Sellers have to pay the IBI or Council tax for the whole year they are selling.
4) Mortgage Cancellation Fees – Your bank will most likely have from a 0.5 percent to 1 percent cancellation charge on the balance of your outstanding mortgage
5) Mortgage Cancellation & Registration Fees at the Notary – In addition to point 4) as a seller, you will have to make sure that your mortgage is canceled at the Notary and Registry. This may cost anywhere from 600 Euros to 1000 Euros and is an amount that will probably be held by the solicitor to ensure this is done.
6) Non-Resident Retention 3 percent: If you are a non-resident in Spain, the buyer of your property will also have to retain 3 percent of the sales price stipulated in the “Escritura” (Title Deed) to pay to the Spanish taxman (Hacienda) on your behalf towards your Capital Gains Tax. Fiscal residents do not have any retention made on them, but they might need to pay tax on the sale in the following year when doing their tax returns.
7) Agents Commission – If you have used an agent to sell your property, then you will also have to pay the agent’s fees.
8) Legal fees: A good legal office should prepare utility contracts, community charges, and “Suma” invoices, speak with the purchaser’s representatives and the Notary, prepare the Notary appointment and all related paperwork, accompany the seller to the Notary and translate, calculate the 3 percent retention, calculate and advice re Capital Gains Tax and give fiscal representation throughout the process.
– What documents do you need to sell a house on the Costa del Sol?There are many documents you need when selling a house in Spain. The best and the safest way to ensure you have everything in order is to sell through an experienced real estate agent, who can help and guide you through the whole process. Caribasolproperty offers you a complete service. When we list a property we ensure that all documents are in order. We offer you a professional valuation of your property and give you tips on how to present your property to our clients.
The main documents you need may include:
- Preparation of Utility contracts, Community charges, and “Suma” invoices.
- Liaison throughout the transaction with Purchaser’s representatives and Notary.
- Preparation of Notary appointment and all related paperwork.
- Translation at the Notary.
- Calculation of 3 percent retention.
- Calculation and advice re Capital Gains Tax.
- Fiscal representation throughout the process.
- Calculation of Goodwill and a letter of “Good Standing” with your community fees from the administration of your community.