Selling Guide - Your Guide to Selling Property in Gran Canaria
Read also •
Why use EstateCanaria to sell your home?
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
Sell Your Home with a
Our tried and true marketing plan
will take the guesswork out of selling
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
another country, or right around the
Energy Performance Certificates:
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
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
A certificate is valid for ten years and can be
used multiple times during this period.
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
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.
Exchange of contracts:
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
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.
Estate agents’ charges:
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
- A ‘For Sale’ sign
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.
The owner must provide the following documentation to the Agent before
active marketing of the property can begin:
Passport or identity card.
NIE number or residencia.
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.
What type of agreement can you have with the estate
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
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.
Accepting the offer:
- Estate Agent’s and
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
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).
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
- 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
- Any outstanding taxes and bills. This includes
community fees, local council taxes (IBI, Basura),
- Mortgage Cancellation Fee, if applicable.
- Capital Gains Tax, if applicable.
Using a solicitor:
- 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
- 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.
- For details on choosing a solicitor, see
Using a solicitor.
- 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.
Selling your home is one of the most important financial transactions you are most likely to make. Like everyone else, you want to sell it for as much as possible and as fast as possible. We feel the same way.
Here are some tips that you can do to help sell your home.
- 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
- 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,
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
- 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
- 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
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.
While we have made every effort to ensure the accuracy of the contents of
this guide to selling property in Gran Canaria, we would like to stress that
it is intended for information purposes only and that it is not a substitute
for professional legal advice.