Real Estate Agency on Gran Canaria

Selling Guide - Your Guide to Selling Property in Gran Canaria

Looking to sell a property in Gran Canaria? At EstateCanaria we are professionals with extensive experience in real estate. Our office are located in Arguineguín just beside the Marketplace so we are easy to find. You can trust us if you looking to sell a property in Gran Canaria as efficiently as possible.

Ask for a Free Home Evaluation:

A well-priced home will generate competing offers and drive up the final sale value. Our free market analysis takes into account the most actively searched prices and home values in the area and provides you with a detailed evaluation that puts it all in perspective.

Sell Your Home with a Professional:

Our tried and true marketing plan will take the guesswork out of selling your home.

See What’s on The Market:

Use the search tools on this site to get an idea of the competition.

Connect to a Professional:

Contact us anytime you need to know what’s really going on in this market. When you’re ready to take the next step toward selling your home, we’re here to help. We’ll make sure your listing gets the best exposure and reaches the right buyer - whether they’re out of Gran Canaria, in another country, or right around the corner.

If you're planning on selling your home, you must provide an Energy Performance Certificate (EPC), free of charge to potential buyers. An EPC gives information on the energy efficiency of a property using A to G ratings, with A being the most energy efficient and G the least efficient. The certificate is produced by an accredited domestic energy assessor.

You and anyone acting on your behalf, for example, an estate agent, must try to ensure that a certificate is available before the property first being put on the market.

From 9 January 2013, all sales advertisements for properties, for example, on the internet, in newspapers and magazines, or written material about the property, should show the EPC rating.

More information on EPCs is available here.

A certificate is valid for ten years and can be used multiple times during this period.

Our Marketing Plan

When you’re ready to take the next step toward selling your home, we’re here to help. Our comprehensive marketing plan will get your home seen by thousands of motivated buyers.

The Right Price:

We’ll quickly put together a custom marketing plan with an effective price. A well priced home often generates competing offers and drives up the final sale value. Our market analysis takes into account the most actively searched prices and home values throughout your area, including expired listings and properties still on the market.

The Right Exposure:

In marketing your home, we also develop a listing that emphasizes its unique and sellable aspects. We then put your home in front of buyers, establishing it on the local MLS as well as broader ones, new listings sheets, and real estate publications. Our nation-wide network of professional real estate contacts and buyers will also have the opportunity to check out your listing.

Effective Internet Marketing:

In addition, we’ll use the Internet and our innovative website to make your listing highly visible. With more than 80% of buyers checking the web first when looking for a home, this is a part of your marketing strategy that you can’t afford to miss.

The Best Deal:

When we list your home, we do so at no additional cost. When you start to get offers, we can represent you during the emotionally charged negotiating process and ensure that you get the best price, and favorable closing terms that are clearly spelled out. As your professional aides, we also oversee all paperwork related to the sale.

For most of us, our home is our biggest investment. When it’s time to sell, get the value you deserve with the help of a professional real estate agent. If you’d like to discuss your next home sale today, please contact us anytime.

When contracts are exchanged, and before completion, the buyer may wish to visit the house, for example, to measure up for carpets or to get an estimate for building work. However, you should not allow any work to be done by the buyer before completion.

You should inform the water companies and phone company that you are leaving and ask for final readings to be made of the meters on completion day. You should also inform the person at the council responsible for council tax.

If the buyer is paying a deposit, this will be paid to the solicitor at exchange of contracts. The solicitor will hold this deposit until completion.  

Nearly all estate agents calculate their fees as a percentage of the final selling price of the property, usually 5% + IGIC. This is known as the rate of commission. You should also check if the following are included in this percentage fee or have to be paid for in addition:

• Advertising costs
• Costs of preparing details of the house including photographs
• A ‘For Sale’ sign
• IGIC.

Do not be alarmed by these high commission fees. If you have a trusted agent you will receive a proper invoice for the commission fee with their tax number (CIF or NIF) on it, which you can use to deduct it from your capitals gains tax.

If you decide to use EstateCanaria, the estate agent must confirm the charges and rate of commission that will be made. The estate agent must do this when they agree to act for you.

• Passport or identity card.
• NIE number or residencia.
• Certificado de residencia fiscal (Spanish owners must show this document to avoid the 3% retention tax payment)
• A copy of the title deed (escritura) for the property and for any mortgage on the property.
• “Nota simple” from the property register showing the land registry details.
• Latest receipts for the local rates (Impuesto de Bienes Inmuebles or IBI), electricity.
• Latest copy of the minutes from the annual community meeting and community rules.
• Any receipts for improvements that you have made to the property, swimming pool, building work, etc.
• Floor plans of the property where available.
• You agree to us having a key to your property so that we can access the property whenever we have a viewing.
  If you are not happy with this then please provide us with your key holders details, however it should be noted that it is not ideal liaising with key holders for access as they are not always available in the evenings / weekends or at short notice.

What type of agreement can you have with the estate agent?

If you use EstateCanaria to handle the sale this could be on the basis of a ‘sole agency’ agreement, or the agent may have ‘sole selling rights’, depending on the contract that you have signed. Both of these terms must be explained in writing if they are used in a contract.

Sole selling rights means that the estate agent will have the exclusive right to sell your home and you will still have to pay the estate agent even if you find a buyer yourself.

A sole agency is still only using one agent, but if you find a buyer yourself you don’t have to pay commission to the estate agent. A sole agency agreement should be agreed for a specific period of time.

If you appoint two estate agents to act together for you in selling the property, this is known as ‘joint agency’ or ‘joint sole agency’. A joint sole agency contract is where the estate agents involved share the commission when the property is sold regardless of which estate agent actually finds the buyer. The commission is usually higher for this type of arrangement.

If you appoint more than two estate agents on a 'multiple agency' basis, only the estate agent who sells the property will be entitled to the commission. Again, the rate of commission is usually higher than for a sole agency.

If you sell your property in Gran Canaria, make sure you take into account certain associated costs.

• Estate Agent’s and Lawyer’s Fees
• Plusvalia:
  In addition to these expenses, there is another issue for buyers, and sellers, to consider: plusvalía. This is a tax on the increase in assessed value of the land on which a property is situated during a vendor’s period of ownership. Its proper name is Impuesto sobre el Incremento del Valor de los Terrenos de Naturaleza Urbana. It is calculated both on the surface area of the plot as well as the difference in its Valor Catastral (rateable value) between the point of previous sale and your own purchase. Plusvalía has risen significantly over recent years and is now in the region of around €1,000 for an average sized apartment owned for six years or so. Indeed where a large amount of land is involved or the previous owner has held title for many years, it can rise to several thousand. The amount is often not known much in advance of signing, and sometimes not until afterwards, because it is calculated by the municipal authorities, some of which only produce the figure after completion. By law, the vendor is required to pay this tax even though many will have stories of years past where it was routinely paid by the purchaser. The period for payment is one month unless the property has been inherited, in which case the heir has six months to settle the tax (this six months can be extended to one year with prior permission from the tax authorities). Simulación Plusvalía
  Note that from May 2017, there is a Constitutional Court judgment that plusvalía may not be charged on any property sold at a loss. The judgment has the usual four-year tax limitation, and so applies to any property sold after May 2013. Until legislation changes, plusvalía is likely still to be charged by councils on all sales, but anyone selling at a loss will be able to reclaim the cost.
• Retention for non-residents:
  If you are non-resident in Spain, the buyer or his representative is obliged to retain 3% of the agreed selling price and pay it directly to the tax authorities on your behalf. You can claim this back through your lawyer if you are up-to-date with all your taxes.
• Any outstanding taxes and bills.  This includes community fees, local council taxes (IBI, Basura), and utilities.
• Mortgage Cancellation Fee, if applicable.
• Capital Gains Tax, if applicable.

• Even if you have accepted an offer, there is nothing in law to prevent you from changing your mind and accepting a higher offer from someone else. You should also bear in mind that when an offer is made and accepted the potential buyer can also withdraw, for example, they may not get a mortgage, or the survey may show up some structural problem.
• If you are selling yourself it may be a good idea to keep the names and addresses of all potential buyers who make offers, in case the one you accept falls through.

• Most firms of solicitors offer a conveyancing service. Although all solicitors can legally do conveyancing, it is advisable to choose a solicitor who has experience of this work.

• You must arrange to leave the house empty by completion day and to hand over all the keys.
• Your solicitor will receive the rest of the purchase price from the buyer and will pass this, together with the deposit, to you.

• A selection of mirrors in the home are a great way of making it feel more spacious. In small areas use large mirrors, these can be used not only to make the room look longer but also wider. Mirrors are especially successful in hallways where they can be used to manipulate the perception of space by reflecting the light and color.
   
• It is important to choose the correct furniture, for example having too big a dining table in your dinning room can make the area look very small and restricted. To maximize this space, use blinds rather than curtains, and plan for extra storage so that you have space to make sure clutter is out of sight. We would say this is also especially important in the bedroom, because the less clutter you see in this room, the more relaxing the room will be, your bedroom is meant to be a sanctuary not a store room.
   
• Use neutral colors throughout the property, on the walls and the same flooring in downstairs spaces to give the impression of space flowing from one room to another. Light colored floor tiles are more appealing than distracting patterns, these are to be avoided if at all possible. If you do not have a choice then it is worth investing in light large rugs scattered around the house to make the distracting patterns less intrusive.
   
• Let the sun shine in. Open the drapes and curtains. Clean the windows so that a prospect can see how bright and cheerful your house is. Dark and dreary rooms do not appeal to most home buying prospects.
   
• Keep stairways and corridors clear and clean of clutter. In addition to being unattractive, clutter can cause accidents.
   
• We all love closets and large storage areas. Make them look even bigger by having them clean, neat and well organized. Get rid of old clothes and cartons that take away from the spacious look. If storage spaces are dark and dreary, a coat of paint. or extra lighting can do wonders.
   
• Kitchen and bathrooms sell homes. Make kitchens and bathrooms sparkle, clean your oven, range hood and refrigerator, clean-stained sinks and bowls, repair any damaged or discolored caulking around bathtubs and showers, be sure towels and area rugs are bright and clean, make certain all light fixtures are clean and bulbs work.
  
  A welcoming kitchen has always been one of the biggest attractions for potential house buyers, the kitchen is most often the heart of the home. Regardless of what budget you may or may not have to present your house, there are a number of simple ways you can maximize its attraction to buyers.
  
  Lets be honest replacing your entire kitchen to attract buyers is not always necessary. Often the cost of installing a new one will outweigh the value it will add to your asking price. A kitchen is subject to personal taste, so if it does not appeal to them they will more than likely refit it upon moving in anyway.
  
  However if your kitchen is very dated, simple changes can make all the difference. Painting the cupboard doors is a common solution, replacing handles or taps and re-grouting the tiles can all give a new lease of life to a dated kitchen and the cost will be very minimal. Keep your kitchen work surfaces as clear as possible to enhance the appearance of cleanliness.
  
  Using these simple but effective ideas will ensure your kitchen looks appealing and entices potential buyers into a prompt decision.
   
• Pet odors and hair can be a big turn off for buyers so ensure there is no trace of your pet during inspections. This may mean steam cleaning carpet, hiding away their food and water bowl, toys and bedding.
   
• Get a start on packing. Remove all personal photos, excess decorative décor, and personal collections. Viewing the home as someone else’s will not help the buyer envision the home as their own. Remove excess or unused furniture to avoid a crowded look. More space generally equals more money.
   
• Can you see the light? Illumination in your home can be the “welcome sign” for every prospect. Turn on all interior lights – including the accent and picture lights no matter the time of day. When showing your home at night, make sure all exterior lights are on as well.
   
• Gardens are too often forgotten in the race to make the most of a property, but their condition can sometimes be the deciding factor on value. It is common knowledge that a lot of people believe that the decision on whether or not to buy a property is made within the first few moments of viewing it. So the state of the front garden is therefore a prime key consideration for anyone choosing to sell their home.
  It is best to keep your front garden neat, tidy and easily maintained. If you want to generate a sense of welcome, so a well-presented front door, with pots along side it, goes a long way towards this. The back of the house is arguably even more important than the front, as this is where the most work is likely to lie with reference to swimming pool and surrounding areas. Low maintenance areas are invaluable especially with the heat here no one wants to spend hours in the hot sun gardening. BBQ area, pool area, terraced area, garden space for herbs, flowers and vegetables to promote the fact we can be self sufficient here in this wonder part of the world.
   
• Leave your home for all showings. Potential buyers will feel like an intruder and want to hurry through your home if there are people around. Let the Broker show your home. The broker knows what the buyers needs are and what they are looking for, and can best describe and emphasize the best features of your house. If there are any questions, the broker get back to you.
   
• If you are selling a tenanted property, consider offering the tenant a cleaner to come once or twice a week before the open for inspection. It is money worth spending and a good way to keep your tenant on side.
   
• If you could follow all of these ideas, then we are sure you will have a better chance to achieve the maximum use of space in your home, and in turn attain the highest possible price for it, yes it is still possible even in this market.

Long story short: Look at your home through the eyes of a potential buyer!

If you have a property for sale in Gran Canaria then contact us as we can help you to sell it.