Select one of the frequently asked questions below to learn more about buying property in Marbella, selling your home on the Costa del sol, renting your property for holidays, of letting your home out to the holidaying public.
What you need to think of, where you should start and what move is the smartest? Here are some of our answers to your questions. Is your question not listed? Then contact us for a free consult. We are here to help!
Question about selling Property in Marbella
What documents do I need in order to complete the sale of my property?
Agents would need the following:
- Copies of the latest IBI (property tax)
- Nota Simple
- The deed
- Copy of your NIE/DNI & passport
- An energy certificate
- Power of attorney (if you are not present for the sale)
- If the property is registered to a company, the company details.
If an offer has been accepted, what can I do to guarantee that the sale goes through?
The agent will ask the buyer to pay a deposit of 6,000€ to take the property off the market. Within the first day of agreement. Thereafter once the contract have been drawn up, the seller should receive (or at least, the agency/lawyer in charge) 10% of the agreed price (which is non-refundable). This usually ensures that the sale will go through as planned.
What costs (taxes, legal fees etc) are involved in selling a property?
There are lawyer fees, agency fees, Plus Valia tax (townhall tax) and the buyer will retain 3% of the selling price to be paid to the tax office in the seller’s name. Profit tax is around 20%.
Do debts associated with the property transfer to the new owner after the sale is completed?
No, any and all outstanding debts (such as unpaid IBI or community fees) will be deducted from the total agreed sale price once the purchase is completed.
Why should I sell my property through a real estate agency and what is the commission charge?
Through a trusted real estate agency, you can rely on that they advertise the property on their website, along with helping you with any and all legal questions or issues you may have. Agencies like ourselves tend to be enlisted in large agency networks, and thus are able to find and generate new potential leads through that as well. The standard commission charge for a normal property is 5% of the sale price. This is also subject to change depending on the property and if a different agreement is met between the owner and D&B Real Estate.
Is it the right time to sell my property?
As this is a very fluctuating market, it is impossible to predict or guarantee when the “right time” is. We however, can offer free consultation in which we can confidently tell you how the market is currently, along with what you can expect should you attempt to sell your property now.
What advantages are there of selling my property exclusively with one agency and not several?
Advantages is they only have one agency instead of many. The majority, if not all, agencies in Marbella collaborate together in some form or way. The main issue with letting several different agencies have the option of selling your property directly is that if they know several others have it, they won’t put in as much effort into advertising and selling the property. There is also the advantage that if more agencies have, there may be a higher chance of getting it sold quicker. But ultimately, having one agency selling your property exclusively will lead to better results, as they are free to campaign and advertise it to the fullest extent of their abilities, and all other agencies must always go to them should they have a client instead. It is also a comfort as you will only have to deal with one agency in terms of updates and viewing requests.
How much is my property worth and how do you work it out?
An agent that knows the area and that has local knowledge about the location and square meter price in the area can make a valuation.
How long does it take for a sale to be completed?
Depends on the market. Calculated around 3 months.
How do I prepare my home to list it for sale?
If the property is lived in you should make sure to keep it clean, nice and tidy before any viewings with clients. If the property is not lived in we can arrange with a professional styling.
Question about buying property in Marbella
What documents do I need in when buying property in Marbella?
Once you have found your dream property in Marbella, you will need a NIE-number and passport, certificate from the bank where the money comes from to complete the purchase.
What documents do I need from the owner to ensure the legitimacy of the purchase?
Copy from the Land Register (Nota Simple).
If I find a property I wish to buy, what are the steps in securing it?
When buying property in Marbella firstly you’ll pay a deposit of 6,000€ to take the property off the market once you have come to an agreement regarding the price. Thereafter once the contract have been drawn up, you will transfer 10% of the agreed price (which is non-refundable) to either the agency or lawyer you are currently in contact with.
What are the costs associated with buying property in Marbella?
To the purchase price it will 10-12% depends on the price of the property.
Can I get a mortgage in Spain?
Yes, there are several banks that can offer you mortgage.
Question about renting (for tenants)
How do I book a property?
To reserve and book a Marbella holiday rental with us, you will need to transfer a reservation deposit of 50% of the total agreed rental price to a designated bank account. The following 50% is paid either in 3 ways: by transfer 1 week before arrival, in cash on arrival or by card on arrival. The security deposit will always be paid in cash on arrival without any exceptions.
What is the difference between a security deposit and a reservation deposit?
A security deposit (which can range from 400€ up to, but not limited to, 1000€) depending on the property one is renting. This can also be known as damage deposit, breakage deposit etc. It is to ensure that if any damages occur in the property because of the tenant, that there is sufficient funds to repair said damage. A reservation deposit is when you initially book the property (50% of the total rent).
Is my deposit refundable?
In terms of the reservation deposit, that is refundable if the cancellation happens before 30days of arrival (this may be flexible depending on the property and season). The security deposit will be paid back within 5 days of check out after a proper inspection is made.
Question about renting (for Owners)
Should I rent my property for short or long term?
There are many advantages and disadvantages for both, but it ultimately comes down to the owner.
Will you be wanting flexibility so you yourself can use the property several times a year? If so, Holiday Rental will yield that sort of flexibility and also ultimately net you more profit as the prices are set to a weekly basis.
On the other hand, if you are simply investing in a property to then sell after a couple of years, and you yourself will hardly, if at all, use the property, renting for long term will ensure that the property is at least well-kept for, bills are paid and there are no costs involved in maintaining the property.
For more information regarding this feel free to contact us directly.
What costs are involved when renting through D&B Real Estate?
For this information, it would be better to get in contact with us directly to discuss this, as this can be subject to change depending on the wants and needs of the owner, as well as what kind of property it is and whether it is for long term rental or short term rental.