Selling property in Marbella is an exciting opportunity, but it also comes with unique challenges. With a market that attracts a wide range of buyers, including a high percentage of international purchasers, a successful sale requires careful planning, expert guidance, and a clear understanding of the local real estate landscape. This guide outlines the essential steps, from pricing and marketing to taxes and closing, to ensure your selling journey is smooth and profitable.
Why Marbella Is Unique for Sellers
Marbella is synonymous with luxury, lifestyle, and exclusivity. Its appeal transcends borders, drawing a diverse range of buyers—retirees seeking sunshine, families relocating for a better quality of life, and investors capitalising on its steady demand. This global appeal, combined with the region’s unique characteristics, positions Marbella as one of Europe’s most coveted real estate markets.
1. Pricing Your Property: The Foundation of a Successful Sale
The correct asking price is the cornerstone of a successful sale. Overpricing can deter buyers, leaving your property stagnant on the market, while underpricing risks undervaluing your investment. A carefully balanced price strategy is therefore essential in Marbella, where many buyers are purchasing second or third homes and are not under pressure to buy quickly.
A well-researched, market-sensible price not only attracts serious buyers but also remains competitive with the properties in your area, considering factors such as size, location, architectural style, and unique features. Since final sale prices in Spain are not publicly disclosed, working with an agent who has access to reliable market data is invaluable.
To account for buyer expectations of negotiation, include a buffer in your asking price. This allows flexibility during discussions while ensuring your financial goals are met. Additionally, factor in the agent’s commission, typically 6% plus VAT in the Marbella area, when setting your price.
2. Selecting a Real Estate Agent: Expertise You Can Trust
The unregulated nature of Spain’s real estate industry makes choosing the right agent critical. Not all agents operate with the same professionalism or resources, so selecting one with a strong reputation and proven track record is key to a successful sale. Look for an agent who offers a client-focused approach, transparent communication, and access to both local and international buyers.
An experienced agent doesn’t just market your property—they guide you through every stage, from pricing and presentation to closing. They bring local expertise to help you avoid pitfalls and international connections to attract a broad range of potential buyers.
Exclusive vs. Open Listings
When signing with an agent, you’ll choose between an exclusive or open listing agreement. An exclusive listing ensures focused attention, premium marketing, and consistent branding for your property, making it the preferred option for high-value homes. Open listings, while offering broader agent exposure, often result in diluted marketing efforts and inconsistent representation.
3. Preparing Your Property for Sale
The way your property is presented plays a pivotal role in attracting potential buyers. A well-prepared property not only generates more interest but can also lead to higher offers and a faster sale. Taking the time to enhance your property’s appeal, both visually and functionally, is an investment that pays dividends.
Creating the Perfect First Impression
First impressions are crucial when selling a property. Buyers form opinions within moments of seeing a listing or stepping onto the property. Make those moments count by ensuring your home is inviting, well-maintained, and presented in its best light.
- Exterior Appeal: The exterior is the first thing potential buyers see. Tidy the garden, clean pathways, repaint the front door, and ensure the facade looks fresh and well-kept. Consider adding potted plants or tasteful outdoor lighting for added charm.
- Interior Updates: Small changes, such as a fresh coat of paint in neutral tones, polished floors, and modern fixtures, can make a property feel brighter and more spacious. Decluttering and deep cleaning are essential to create a welcoming, move-in-ready atmosphere.
Decluttering and Staging
Buyers need to envision themselves living in your property. Decluttering is the first step to creating a neutral and inviting environment.
- Decluttering Tips: Remove personal items, excess furniture, and overly specific decor that might not appeal to everyone. A minimalist approach helps buyers focus on the property’s features rather than its contents.
- Professional Staging: If budget allows, professional staging can significantly enhance the perceived value of your home. Strategic furniture placement, tasteful decor, and subtle accessories like fresh flowers or candles can highlight your home’s best features and create an aspirational lifestyle that buyers desire.
Addressing Maintenance and Repairs
Buyers are quick to notice even minor defects, which can create doubts about the overall condition of your property. Addressing these issues before listing can make your home more appealing.
- Repairs: Fix dripping taps, cracked tiles, squeaky doors, and faulty light fixtures. Ensure appliances, plumbing, and heating systems are in working order.
- Snagging Inspections: Conduct a thorough snagging inspection to identify and resolve any overlooked issues. A property free of obvious faults sends a message of care and maintenance to buyers.
Organising Essential Documents
Before listing your property, ensure all required documents are in order to streamline the sales process.
- Title Deed: Proof of ownership is essential to complete the sale.
- Tax Receipts: Ensure municipal taxes (IBI) and rubbish collection fees are paid up to date.
- Utility and Community Fee Receipts: Provide evidence that running costs are settled.
- Licenses: Ensure your property has the necessary first occupation license, especially for newly built or significantly renovated properties.
- Warranties: Offer any relevant warranties or service agreements for appliances or installations to reassure buyers of quality and reliability.
4. Marketing Your Property: Reaching the Right Buyers
Effective marketing is the key to attracting the right buyers. In a competitive market like Marbella, your property needs to stand out. An experienced real estate agent will craft a bespoke marketing plan to showcase your property to its fullest potential.
Professional Visuals
In the digital age, buyers often see your property online before scheduling a visit. High-quality visuals are non-negotiable.
- Photography and Videography: Professional photos should capture the best angles, lighting, and features of your property. Luxury properties may also benefit from drone footage, which provides dramatic aerial views of the home and surrounding areas.
- Virtual Tours: Virtual reality and 3D tours are increasingly popular, allowing international buyers to explore your property remotely.
Digital and Global Marketing
Given Marbella’s international appeal, it’s essential your agent can market your property across multiple platforms to reach a global audience.
- Property Portals: Listing your property on prominent local and international property portals ensures visibility to a wide range of buyers.
- Social Media Campaigns: Targeted ads on platforms like Instagram, Facebook, and LinkedIn can reach specific demographics, while organic posts create buzz and drive traffic.
- Email Campaigns: Direct emails to potential buyers or property investors in your agent’s database can generate interest and inquiries.
Local and Private Marketing
While digital marketing is essential, traditional and exclusive methods can also yield excellent results.
- Open Houses: Hosting open house events for select clients creates a sense of urgency and exclusivity.
- Private Tours: Many luxury buyers prefer discreet, one-on-one property viewings. Your agent should accommodate these preferences and curate a personalized experience.
5. Negotiating Offers: Securing the Best Deal
Negotiations are a critical stage in the selling process. An experienced agent will provide feedback from viewings and guide you in evaluating offers, considering factors like the buyer’s financial position and proposed terms. They’ll manage counteroffers and ensure inventory agreements—covering what’s included in the sale—are clear and binding.
Your agent’s expertise ensures negotiations are handled professionally, avoiding unnecessary delays and maximising your return.
6. Taxes and Costs: Understanding Your Obligations
Understanding your legal and financial responsibilities is crucial for a smooth and compliant sale. Working with a knowledgeable agent and lawyer ensures that all obligations are met without unnecessary delays or complications.
Real Estate Agent Fees
In Marbella, real estate agent commissions is typically 6% of the final sale price, plus VAT at 21%. These fees are usually paid by the seller and cover marketing, client viewings, and negotiation support. While this cost might seem substantial, a skilled agent can often secure a higher sale price, offsetting the commission.
Capital Gains Tax
Capital Gains Tax (CGT) is applied to the profit made from selling your property. The tax rate varies depending on your residency status:
Residents:
Savings taxable income is taxed at the following rates:
- 19% for the first EUR 6,000 of taxable income.
- 21% for the following EUR 6,000 to EUR 50,000 of taxable income.
- 23% for the following EUR 50,000 to EUR 200,000 of taxable income.
- 27% for the following EUR 200,000 to EUR 300,000 of taxable income.
- 28% for any amounts over EUR 300,000.
Non-Residents EU/EEA:
A 19% tax applies, with a 3% withholding paid by the buyer as an advance on the seller’s CGT. This applies to all non-resident sellers. The buyer pays 3% of the sale price to the Tax Office via Form 211 and provides a copy to the seller. The seller can use it to offset their tax or request a refund if the amount exceeds their liability.
Non-EU/EEA Residents:
A flat rate of 24% applies
Plusvalía Tax
The municipal Plusvalía Tax is calculated on the increase in the value of the land since the property was acquired. The tax is determined based on the cadastral value of the land and the number of years owned. Consulting with the town hall or a tax advisor can help determine the most favourable calculation method.
Additional Considerations
- Mortgage Cancellation Fees: If your property is mortgaged, ensure you account for cancellation fees, which include notary and registry costs.
- Community and Utility Fees: Settle all outstanding payments to avoid complications during the transfer process.
- Legal Support: Hiring a lawyer is highly recommended to navigate the complexities of Spanish property law and ensure compliance with tax obligations.
7. Closing the Sale: Key Steps
1. Reservation Contract
The process begins with a reservation contract, where the buyer pays a fee (typically around €6,000, but this can vary based on the property’s value) to secure the property and remove it from the market. The agent prepares this agreement, outlining key terms like price and conditions. Once both parties sign, the sale moves forward.
2. Private Purchase Contract
Within 10 to 14 days of signing the reservation contract, the buyer and seller sign a private purchase contract. The buyer pays a deposit, usually 10% of the agreed purchase price, making the agreement binding. However, the contract is subject to legal and technical due diligence. If significant issues are uncovered during these checks, the buyer can terminate the agreement and receive a full refund.
3. Due Diligence
A lawyer conducts detailed checks to confirm the property is free of legal issues, debts, or encumbrances. This includes verifying building licenses, Land Registry records, and utility connections to ensure the property complies with all regulations.
4. Title Deed Signing at the Notary
Once due diligence is complete, both parties meet at a notary’s office to sign the title deed, known as the “escritura.” During this meeting, the buyer pays the remaining purchase price as per the agreed terms. This step transfers legal ownership and possession of the property to the buyer.
5. Registration
The buyer’s lawyer ensures the property is officially registered under the new owner’s name in the Land Registry. This final step formalises the ownership transfer and completes the sale process.
Why Choose Kore Estates to Sell Your Property?
At Kore Estates, we combine local expertise with international reach to deliver exceptional results. Our personalized approach ensures your property receives the attention it deserves, from tailored marketing strategies to seamless closing processes. Whether you’re selling a luxury villa or a cosy apartment, we’re here to make your journey as smooth and successful as possible.