News
2023-07-29
At Unlimit Group we understand how important it is to have advice and support throughout the entire sales process. Our goal is to provide you with the knowledge you need to make informed decisions and achieve the best possible outcome when selling your property, so get ready to take the first step towards a successful real estate transaction in Spain with the confidence that Unlimit provides you with!
You may be wondering,
What documentation do I need to have in order to sell my property?
1. Title of your property.
In order to change the ownership of the property it is VERY IMPORTANT to have your property title. When you manage to get the future buyer of your house, your lawyer will ask you for a COPY of the deeds. Don't expect to have this until the end, if you decide to sell your house this is paramount.
Can't find that copy? Don't worry, there are several ways you can get it back. If you bought your property through a lawyer, there is a chance that he can provide you with your copy. If you bought with a mortgage, you can check with your bank, or with the same notary you used at the time, they will be able to provide you with the copy.
Forgot the name of the notary? It is very likely that you can find it in the nota simple, this document is very essential at the time of drafting a private contract of sale.
2. The energy efficiency certificate
Since 2013, it is very important to provide the energy efficiency certificate, without this certificate it is impossible to sell. This is a report that indicates the efficiency of energy consumption of a house. The houses get a rating in the ranges from A to G.
The certificate is valid for 10 years, unless changes have been made to the property. The costs of this survey depend on the size of the house and vary between 100 and 500 euros. The costs are borne by the seller. It is possible to deduct these costs for the capital gains tax.
3. Proof of mortgage cancellation
If the mortgage is paid off, it is enough to show the document that proves it, in case it is not so, the mortgage must be cancelled and paid, so the new owner of the house can register without problem the property in his name, this is done at the notary when registering the sale.
4. Last paid invoices
The seller has to provide copies of the last paid bills, such as gas, water, electricity, etc. Everything must be up to date in order to sell your property.
5. IBI
All property owners must pay IBI, it applies to residents and non-residents. The IBI varies according to the town hall, the cadastral value of the property is the basis for the IBI. The seller has to provide a certificate stating that the IBI payments are up to date. The IBI is paid once a year.
6. Community related documents
This applies if something is sold in a community with shared common facilities, in this case there is a community of owners. Each owner has to pay the common expenses, the administrator of the community must issue you a certificate of payment.
7. Certificate of Habitability
This document certifies that the property meets the habitability requirements of the town hall. These documents are issued by the town hall to a builder when a new construction is finished, the document expires after 5 years. Then, the owner of the house has to renew the certificate. In that case, the town hall will issue a "second occupancy license". An important document, since the buyer cannot take care of his water contract if he does not have it.
Thank you for taking the time to read our article. At Unlimit Group, we value your trust in us and are committed to providing you with exceptional service at all times.
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2023-07-10
Constantly homeowners are questioning why their property is no longer in high demand in the market and why they are not able to have frequent visits to their home.
Here at Unlimit Group we explain the reasons why this type of problem occurs:
1. Price too high: If the price of the property is above its market value or in comparison with other similar properties in the area, it is likely that potential buyers or tenants are discouraged and look for other more affordable options.
2. Changes in market preferences: Trends and preferences in the real estate market may change over time. If a property does not fit current market demands, such as a lack of modern features, energy efficiency or technology, it is likely to be less in demand.
3. Competition in the market: If there are a large number of similar properties available on the market in the same area and at the same price, there may be strong competition. This may cause buyers or renters to opt for other options and decrease demand for a particular property.
4. Economic and financial factors: General economic conditions, such as high interest rates, lack of access to credit, or economic instability, may affect the demand for properties. If people do not have the financial ability to buy or rent a property, demand will decrease.
5. Unattractive design or layout: If the property has an unattractive or non-functional design or layout, it can affect demand. For example, small rooms, lack of natural light, poorly laid out spaces, or lack of common areas may cause potential buyers or tenants to look for other options.
6. Unfavorable location: The location of a property is a key factor in its attractiveness. If it is located in an undesirable area, far from important services and amenities.
That is why in our agency we are constantly monitoring the market with the properties we have in our portfolio and our exclusives, always giving the best options to our sellers and informing them of changes.
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2023-06-20
In UNLIMIT GROUP we help you to clarify those doubts and give you advice in this real estate process. We will give you advice and a step by step of certain requirements that you must have to be able to invest in Spain.
The first step is to have a Foreigners Identification Number (NIE). Having this number makes it unique, personal and exclusive to you. It is necessary for all foreigners who want to invest in Spain to obtain this identification. This can be requested in Spanish territory to the General Directorate of the Police or, in the case that they are not in Spain at the time of the request, to the Embassy or Honorary Consulates.
You may ask yourself, what are the requirements of the banks in Spain?
Here we clarify your doubts.
What taxes does a NON RESIDENT pay when buying a property in Spain?
Every time you sign a mortgage, you must pay a tax on notarial documents, called "Actos Jurídicos Documentados" (AJD), which represents a percentage depending on the autonomous community in which the loan is formalized.
NON-RESIDENTS must pay the taxes derived from the transfer of property in Spain. If the property is new it will be subject to VAT, if the property is used it must pay the (ITP) Property Transfer Tax.
What taxes must a NON RESIDENT pay when acquiring a property?
IBI: Real Property Tax, this is a local tax that is paid to the town hall based on the cadastral value. The percentage rate is established by each municipal administration.
IRNP: Income Tax, the NON RESIDENTS is a tax that is applied to the owner of the property, in case he/she does not live permanently in Spain. If he/she stays in the Spanish territory for more than 183 days, he/she is considered a fiscal resident and in this case is taxed by the IRPF.
IP: Although the owner does not reside within the Spanish territory, he is subject to Wealth Tax. The state law establishes a minimum exemption of 700.000€, which is also applicable to NON RESIDENTS.
Who pays an appraisal and what is its proceeds?
There are other taxes associated with the purchase of a property such as notary fees, registration fees and the appraisal.
The appraisals must be carried out by independent entities and approved by the Bank of Spain.
ECO APPRAISALS
In the case of investing in a property in Spain by means of a mortgage, whether the financial entity is Spanish or foreign, the Notaries request an official appraisal in accordance with the ECO standard by an independent entity prior to the purchase transaction.
What is the influence of investing in Spain?
On the part of the foreigners what influences to invest in Spain is its climate, the quality of the infrastructures, the offers, the sanitary services and the good gastronomy.
So, what are you waiting for to contact us and we can help you in this real estate process together? Count on UNLIMIT GROUP, your best reliable ally.
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2023-06-05
Looking to invest and renovate properties in the Costa del Sol area?
We will show you why to invest in this wonderful market and how profitable it is for several reasons:
The Costa del Sol area has very attractive prices compared to other tourist areas in Europe.
The Costa del Sol is one of the most touristic areas in Spain, this implies that there is a great demand for properties both for rent and sale, also the area is visited by many foreigners looking to invest or have a second home.
High growth of the real estate market in the Costa del Sol during the last years, the area has become a second home for more than one person. This area has achieved a higher demand for high quality properties.
Great rental potential, such properties that you have already invested in this area can guarantee a return to the owners as holiday or long term rentals.
Conclusion
Investing in property in the Costa del Sol area can be a profitable business due to the high demand it has obtained for the reasons mentioned above.
The quality of life in this area is unique!
Let us help you in the personal advice of the acquisition of your property in Spain, count on UNLIMIT GROUP, your best ally of confidence!
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2023-06-02
Working with our agency on an exclusive basis always ends up being an excellent option, as long as the seller trusts us and the work method we can provide.
The promise of a commission will make the agency to be devoted to you and your interests as a seller, and at the same time the agency will get its own.
If the seller agrees exclusivity with our real estate agency, this attracts more than one benefit, we provide the following services:
Photographic report of your property, this is known as home staging, we advise you on the need to make some mini-reform of your property for its better exit to the market.
Real estate marketing with your property, this means that your property will move in real estate portals, outstanding sites which we will invest in these platforms so that your property achieves a great reach in the market.
Potential buyers, we will make a previous filtering of buyers and we will show your property only to profiles that fit in order not to waste your time in heavy visits that will not give any positive result.
We will have a period of 3 to 6 months during which the agency will not feel pressure from other real estate agencies to take the sale of your property and generate confusion to the potential buyer to go with the competition.
Conclusion
If as a seller you do not have the desire, time or the right knowledge about the real estate market and you have made the decision to sell your property. This is an excellent solution to trust us with the sale of your property.
This requires us a series of efforts and dedication during the time that lasts the sale of your property and to be able to give you an excellent real estate result.
Count on UNLIMIT GROUP, your best trusted ally for the sale and purchase of your property!
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