Lanzarote property sellers guide

 

Selling a Property in Lanzarote

Having been established since 1989 we really know Lanzarote´s property market, we have sold property all over the island but due to the location of our office we specialise in the old town of Puerto del Carmen. As a small family run company we intend to give our clients a bespoke and personal service. We like to think we offer a kind guidance that will make the selling process clear and straight forward, we aim to go above and beyond the average estate agent.

 

Lanzarote is a beautiful island and we are passionate about selling property here and the wonderful lifestyle the island offers. We offer a free valuation service and can advise about current market price, what the market forecast is and all aspects of selling a property in Spain.

 

Once you instruct your property with us we will take high quality photos and advertise on our new responsive website that works on any device. We market properties on local and international portal websites and collaborate with agents in various countries, to get your property seen by a wide audience. We take the time to get to know our buyers to understand their exact search criteria and finical situation, so we eliminate time wasters. We have agents that speak English, Spanish and German. We have a large social media following. Our established office in the Old Town of Puerto del carmen is held in high regard and maintains a trusted reputation in the community.

 

Here is a little guide to what is needed to sell your property but at the valuation we will go through this in detail.

 

Estate Agent Fees

Our fees are 5% Multi Agency or 3% for exclusivity, plus 7% I.G.I.C.

When we instruct your property we will ask you to sign a contract, either multi agency or exclusive. We do not charge you to market your property, the fee is to be paid a point of sale.

Capital Gains

You will need to pay capital gains tax on the profit from the sale of your house, this applies to residents and non-residents. It is a complex calculation but as a standard the percentage of tax you will pay on the gain from the sale of your property is 19%. We strongly suggest you seek advice from a fiscal accountant to go through this in details with you.

If you are a resident of Spain then you are to make your annual tax declaration through a fiscal account. If the property you have sold is you main residence for over three years and within two tax year you use the profit to buy another home then you will be exempt from paying capital gains.

If you are a non-resident then at the point of sale 3% of the sale price will be retained for capital gains. Through a fiscal account you will make a tax declaration on the sale of your property to determine the

Capital gains that needs to be paid. If you have made no profit then you can apply for the 3% that was retained to be returned.

Plus Valia

This is a tax paid for the increase in the value of the land since purchasing till the point of selling and paid by the vendors. This will be calculated out from the last I.B.I local rates bill by the Town hall.

Electric Certificate (CAI)

If the property is over 20 years then it needs to be brought up to EU standard and an electric certificate needs to be obtained to pass inspection. We can recommended an Electrician to give you a quote and can oversee the work if any is needed to be carried out.

Energy Certificate

Energy rating certificate must be obtained by law, we can organize this for you. The average cost is 150€

Lawyers

We recommend ASG inter-consulting, they have offices in Arrecife, Playa Blanca, Costa Teguise, Puerto del Carmen (next to our office) and Fuerteventura. They were established in 1988 and can answer any of your legal needs but they specialise in property conveyancing.

Tel: 928 80 64 28

Email:info@asginterconsulting.es

www.asginterconsulting.es

Exchange Company

After the sale of your property if you need to exchange money we recommend Foremost Currency Group who will match or beat any current exchange rate. This is also a trusted and reliable way to move money that doesn’t incur the extravagant exchange fees of a bank. James Spurway is our contact at Foremost and we find him to be very helpful and informative on the current exchange market.

Tel: +44 (0)1442 892060

Email:jas@fcgworld.co.uk

www.ForemostCurrencyGroup.co.uk

Fiscal Accountant

EBF consulting come highly recommended from many foreign clients, Natasha the owner is English and her team can help with your Spanish fiscal needs.

Tel: +34 928 513 311

admin@ebfconsulting.com

www.ebfconsulting.com