A lot of people have bought properties in Tenerife over the years and some time later they want to sell it.
When you bought your property in Tenerife, you were probably led along by an estate agent with…hopefully…the assistance of a lawyer and now some years later – at the time of selling, your memory of waiting in notary offices, signing paperwork that had very little meaning, money being paid out left, right and centre and being handed the keys to your new place in the sun, are now faded and distant memories.
You have decided to sell your property in Tenerife. Where can you go for this ? Local media, through acquaintances and/or real estate agencies ...
First you have to take into account various factors that are important to not only make the sale of your property a success but also to fulfill the legal and tax obligations that go with it.
Various channels put your house up for sale, after which in many cases the work is only half finished. Afterwards, you will have to use another channel once again to take care of the sale of your property in Tenerife through other channels. Which not only requires extra time but also entails additional financial costs ...(lawyer).
Due to the upcoming uncertainty with the Brexit, we get more and more requests from the English clients to sell their property. Logically, the current English real estate offices only attract English customers for your property to sell ...
We, on the other hand, are specialised in selling properties to Belgians.
And if you know that Belgians are one of the biggest buyers in real estate in Tenerife, it is logical that your property will be sold much faster if we present your property to our customers.
Out website gets an average of 8000 visitors each month.
Above that, we have a very good reputation in the service we offer and we guide all our customers both legally and practically through the entire sales and selling process.
But what about when selling my property – do I need a lawyer…?
Not in our case ! If you sell, we do the complete follow-up of sales, the notary and the post notarial guidance. Such as canceling electricity, water, internet, IBI, etc ...
In addition and if necessary, we will help you apply for a refund of the 3% retention after the sale of your home! Many people forget that 1 year after the sale of your property you are entitled to apply for the 3% Retention by the Spanish tax authorities!
And maybe you wish to sell it in all discretion? We call this a silent sale ...
When you come to us, we take over the entire sales process for you and we do the complete follow-up of the sales.
Whether you are in the UK or in Tenerife. You no longer have to worry about the legal and tax burden. Or for examples terminating contracts for water, electricity, internet, etc ....
Our website has a high score among the search engines on the internet. We are always on page 1 and this on the first, second or third place of the search results. Especially in Belgium.
We mainly focus on the Belgian public. The Belgians are one of the biggest buyers of real estate in Tenerife in Europe
We do silent sales: that is, if you wish, we sell your property in Tenerife in all discretion. This is possible because we have a waiting list of customers who want to buy a property in Tenerife and quietly wait for the house that meets their standards.
We are known to complete the administrative and fiscal follow-up down to the last detail
Outside our website we have an extensive customer base
After our appointment, we will visit your property and carry out a free valuation. Afterwards we do a photo shoot of your property and collect all relevant information. We also inform you on the spot which obligations must be made in connection with deductions for the sale of your property (see below for costs).
You will also receive valuable recommendations on the best way to prepare your property for sale.
And from here we take over the sale from you. You only have to wait for appointments to visit your premises. The potential customers who will come to visit the property are customers who fit the profile of your home. That is, we do not do random visits. Only the customers who fit the profile, who have seen the photos and confirmed that they are interested, are invited to view the property.
If you are not in Tenerife, it is advisable to give us a key, so that we can show the house by appointment.
When we have a buyer who will buy your property, the following happens:
After signing the sales contract, the buyer will deposit an advance of 10% on your account. From then on, the sales contract is binding for both parties.
Then we prepare everything to go to the notary.
After signing the deed at the notary, we then proceed:
Plus Valia Tax: this is a tax that you have to pay to the municipality. It is calculated on the basis of the taxable value of the property and the number of years that have passed since the property was purchased. Usually this amount is withheld from the notary by the buyer, so he is sure that this tax is paid.
3% Retention or withholding tax on the Capital Gains Tax. Capital gains tax is a tax on the capital gain, the profit you make on the sale. If you owned the property for several years, the sales price will be significantly higher than your purchase price. The buyer withholds 3% from us and we will pay it to the Spanish authorities within 30 days, you will receive proof of this. In this way the government wants to prevent you from leaving the country after the sale and never return and therefore not paying capital gains tax.
Our commission for selling your property depends on various factors. We work either on a commission or fixed fee basis. Or we agree a net sale price with you and include our fees in the gross sale price. Keep in mind that we follow the entire sales procedure ourselves and you save a lawyer because this is included in our fee.
For more detailed explanation do not hesitate to contact us.