02 – You FOUND A BUYER for your home

02: What happens once I have found a buyer for my property?

Once we have found a buyer for your property we will negotiate and agree to the sales conditions and price. All of this is of course done with your full involvement and approval at every step. The offer will include the price, the duration of the offer with a time limit, the proposed payment terms, the time for completion and what is to be included in the sale. When both parties have reached an agreement, it is then for lawyers to get involved and commence legal due diligence. As a vendor your lawyers principal tasks are to supply the buyer’s lawyer with documentation, facilitate and source anything missing, and minimize your tax bill by ensuring all improvements and costs are offset.

You will probably have a bank valuer visit the property to value the home should the buyer be requesting a mortgage, and a surveyor will come visit the property at some point to report on the condition of home to the buyer. 

At this stage a private contract will be prepared by the lawyers and a deposit of 10% deposited either at your lawyer’s client account or in escrow. The timing of the sale and signing the title deeds will be expressed in the private contract. It will most probably take at least two months minimum to sign at the Notary.

All property taxes such as IBI, garbage collection tax, community fees if any, as well as normal running costs such as electricity, telephone, water, etc. should be paid and up to date when the property is transferred to the new owner.

Capital gains tax and municipal capital gains will need to be paid. We recommend you consult with your Solicitor or tax consultant on all these matters.

Let us help you sell your home in Sotogrande!

We are always available to guide you and we can provide advice in your own language if you prefer.

Charles Gubbins.
Email: charles.gubbins@noll-sotogrande.com
Mobile: +34 607 911 661

Stephanie Noll
Email: stephanie@noll-sotogrande.com
Mobile: 34 607 465 383

© Noll Sotogrande Real Estate

Disclaimer: Please note the material contained in this guide is for informational purposes only. This information is general in nature and has not taken into consideration your specific personal circumstances.