How to buy a property on the Costa del Sol
19 May, 2021
Blog
List a Costa del Sol Property
How to sell my house fast
Is it the right time for selling a house on the Costa del Sol?
Selling a house can be a stressful and nerve-wracking time, and one of the considerations is always ‘Is now a good time to sell?’
The good news is, the Costa del Sol remains a popular destination for European retirees and second-home owners. The traditional time for house sales is March to September, and when travel restrictions ease in early summer 2021, there is an expected influx of potential buyers.
If you’re interested you can read more here about how COVID19 has impacted the real estate market.
To prepare for those eager buyers, there are several tactics you can take to make the process of selling a house a lot smoother.
Decide on your selling strategy
When deciding how to list your home on the Costa del Sol, there are two conventional sales options — for sale by owner (FSBO) or with a real estate agent.
One of the benefits to selling your own home is you save on the commission. But if you want to sell fast on your own, you’ll need your negotiation skills in peak condition.
Be ready to negotiate escrow timelines, juggle contract paperwork, and consult a lawyer to make sure all forms are filled out correctly. You’ll need in-depth knowledge to sell your house fast.
Choose a reputable realtor
When going through an agent, make sure they are reputable. One big benefit is they know what it takes to sell a house fast in your area. They’ll streamline the more complex processes such as contracts, negotiations, signing and closing.
They will charge you a commission for their services, so it is always best to find out what percentage that would be, in advance.
Prepare the house for sale
“I want to sell my house fast, but where do I start?” Simple, by making the house as appealing as possible to buyers. That means cleaning and decluttering.
You may like a wall full of family photos, or shelves of ornaments, but buyers want to visualise their own things there, not be distracted by yours. Get a storage unit and pack away any non-essentials or large furnishings that make rooms look crowded, small or messy. Buyers are looking for storage space, so don’t cram extra belongings into closets. Then give the house a thorough spring clean, so it’s fresh and inviting for buyers.
Marketing and price
‘Price to sell’ is one way to get your home sold quickly. Make sure it is competitively priced; an overpriced property will spend more time on the market. Do the research and look at comparatives in the area. MK Estate offers a free property valuation. Contact us now.
What will help get the price you want to achieve is highlighting the main selling points of your home. Work with your agent, approve their advertising campaign and ensure the images are of a high quality. A virtual tour online will really help buyers understand the property.
Do some research, there is a vast offer of articles on the internet of what to avoid and how to proceed when selling a house.
Be flexible with showings. The more people who see your house, the more chance you have to sell house, fast.
Receive Offers and Negotiate
Don’t ignore any offers, even if it seems too low you should still negotiate. Make a counteroffer and don’t be afraid to go back at full asking price if comparable sales show your price is competitive.
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Pre-Purchase Contract
Sign the pre-purchase contract – this document secures the property for the buyer and outlines the terms and conditions including the deadline for purchase. The contract is signed by both parties or their representatives. The buyer usually pays 10% of the purchase price on signing.
If the house is being sold with fixtures and fittings and/or furniture, the contract should have an inventory attached, which is signed by both parties.
Receive Payment – your house is sold
Finally, attend your closing appointment, sign the final paperwork, receive payment – usually banker’s draft – and hand over your keys.
The buyer’s lawyer or the agent will register the new owner of the property at the nearest Property Registry (Registro de la Propiedad).
