Steps to sell a flat effectively

Selling an apartment involves much more than simply putting it on the market; it's a process that demands planning and good organization. For everything to flow without unpleasant surprises, it's important to follow a series of key steps. From the initial preparations and market research, to the moment you sign the public deed, each phase has its importance.

In addition to offering you this detailed guide, at our real estate agency in Valencia Galgo Real Estate we are at your disposal to accompany you at each step of the process, ensuring that everything is as effective and simple as possible.

1 Preparation and market analysis

Preparation and market research are the key to ensuring success when selling your apartment. Understanding how the real estate market moves and setting a fair price is not just a detail, it's what will make the difference in your sale.

Real estate market research

A thorough analysis of the local real estate market will help you understand the supply and demand in your area. It's vital to go deeper to get a complete vision.

• Look at listings of similar apartments in your area to get an idea of the market. 
• Know the price trends and how long properties typically stay available before being sold.

With Galgo Real Estate by your side, you'll have access to the most up-to-date and relevant data so that your property stands out and sells in the shortest possible time.

Setting the property price

Setting an appropriate price is essential to capture buyers' interest. It must be competitive enough to stand out in the current market.

• Analyze aspects such as location, size, features, and the general condition of the property. 
• Compare the price you have in mind with similar properties that have recently sold in the same area.

This ensures that your offer is not only attractive but also realistic.

Using valuation simulators

Online tools are very useful for obtaining precise estimates of the value of your apartment. Valuation simulators consider various variables that influence the price.

• Enter key information about your property to receive an estimate closer to reality.
• Use the results of these tools to guide your decision and adjust your sales strategy.

This will help you move with more confidence in the market, having a solid reference on which to base yourself.

2 Documentation required to sell the apartment

Having the documentation in order is essential for the sale of your apartment to be carried out legally and without hiccups. Here I indicate the papers that cannot be missing in this process.

Property deed

The property deed guarantees that the property is yours. This document certifies who is the legal owner of the property. Therefore, it is important that it is in order and reflects updated information to avoid problems in the sale.

Verification in the Property Registry

Before taking any step in the sale, it is advisable to review the status of the deed in the Property Registry. This ensures that there are no charges, encumbrances, or restrictions that could complicate the operation. It's better to prevent and confirm that everything is in order for a transaction without surprises.

Energy efficiency certificate

The energy certificate is a mandatory requirement in Spain. This document evaluates the energy consumption of the property and its efficiency. You must deliver it to the buyer before signing the purchase deed, ensuring that you comply with current regulations.

Certificate of debts with the Community of Owners

When selling an apartment in a building that has a community of owners, you will have to present a certificate that proves that you are up to date with all payments. This certificate, issued by the community administrator, guarantees that there are no outstanding debts, whether quarterly or extraordinary fees. It is a fundamental requirement so that the new owner does not inherit any debt and the transaction is carried out without problems.

Certification of pending debt

If there is any debt with the community, it is necessary to obtain a certificate that specifies the pending amount. This document shows transparency and will avoid complications during the sales process. Thus, the buyer will be aware of any financial obligation that remains to be resolved.

Latest IBI receipts

Having the last four Property Tax (IBI) receipts on hand is more than recommended. These receipts are proof that you have complied with your tax obligations, thus avoiding possible inconveniences for the buyer. Showing that you are up to date with the IBI provides peace of mind and transparency in the transaction.

3 Preparing the property for sale

Preparing the property is essential to capture the attention of buyers. A space that is well cared for and presented makes a difference, increasing the chances of achieving a quick and effective sale.

Home Staging

Home Staging is a technique that seeks to highlight the best qualities of the property and create a warm environment that attracts potential buyers. Here are some essential strategies to put into practice.

Cleaning and order

Doing a thorough cleaning of the entire property is essential. A clean space not only generates an excellent first impression but also helps buyers imagine themselves living there. You should focus especially on:

• Floors and carpets, so they are impeccable.
• Kitchen, including appliances and shining surfaces.
• Bathrooms, ensuring that there is no trace of stains or dirt.
• Windows, which should be transparent to let in as much natural light as possible.

A clean and tidy environment can make a difference in how buyers perceive the property.

Depersonalization of space

Removing personal items is key for potential buyers to visualize the space as their own. When depersonalizing, think about:

• Storing family photos and personal memories.
• Removing collections and decorations that may not be to everyone's taste.
• Opting for a neutral decoration that conveys a welcoming and versatile atmosphere.

This creates a blank canvas, helping the buyer to easily imagine living in the space.

Minor repairs

Attending to small repairs can completely change the perception of the property. It is important to solve details such as:

• Leaking faucets, giving a sense of care.
• Peeling paint or stains on the walls, renewing the general appearance.
• Doors that squeak or don't close properly, avoiding unnecessary discomfort.

These fixes, although they may seem minimal, make the space appear more cared for and ready to inhabit.

Wall painting

Painting the walls can completely transform a space. Opting for neutral and soft tones brings freshness and makes the rooms appear more spacious. Colors such as:

• Beige
• Light gray
• White, which enhances light and visually widens the environment.

These tones create a clean and welcoming canvas, allowing buyers to focus on the potential of the property.

4 Publication and sales advertisements

The visibility of the property in the market is key to attracting buyers. A well-designed advertisement can make all the difference, highlighting the most attractive features of the apartment. At Galgo Real Estate, we help you enhance this aspect, ensuring that your property stands out and reaches the right audience.

Creating an attractive advertisement

For an advertisement to be impactful, it must be clear and persuasive. It is vital to include detailed and relevant information that captures the attention of those looking to buy. At Galgo Real Estate, we take care of creating advertisements that highlight the strengths of your apartment, attracting interested parties from the first glance.

Quality photographs

Images are the presentation card of your home to potential buyers. That's why it's important to:

• Use a quality camera or have a professional photographer. 
• Capture photos at different times of the day to take advantage of natural light.
• Highlight the most important rooms, such as the kitchen, living room, bedrooms, and bathrooms.
• Include photos of outdoor spaces, such as gardens or terraces, if any.

A good gallery of images can make a difference, making your advertisement stand out from the rest.

Property description

The description should be precise and include details that attract buyers, such as:

• Square meters of the property. 
• Number of rooms and bathrooms. 
• Special features, such as built-in wardrobes, balconies, or fireplaces. 
• Information about common areas, if they exist, and the general condition of the building. 
• Nearby services, such as shops, parks, public transport, and schools.

A complete description helps interested parties get a clear idea of the property, immediately arousing their interest.

Publication on real estate portals

Publishing on the right real estate portals is a strategy that can give a lot of visibility to the apartment. At Galgo Real Estate, we take care of highlighting your property on the most effective platforms in the market, ensuring optimal exposure. When managing this publication, we take care of:

• Ensuring that all information is accurate and up to date.
• Including high-quality photos that make your property shine before potential buyers.
• Selecting the most reliable and effective portals, based on ratings and experiences of other users.

Thus, we maximize the possibilities of your apartment reaching the ideal buyer.

Social networks

Social networks are a powerful tool to give a boost to the promotion of your property and can help you:

• Spread the advertisement among friends and followers, significantly expanding the reach.
• Publish stories and posts that generate curiosity and highlight the most attractive aspects of the property.
• Interact directly with interested parties, offering a closer and more personalized treatment.

At Galgo Real Estate, we know how to make the most of these platforms so that your property reaches as many people as possible.

5 Managing visits with potential buyers

Managing visits with potential buyers is a key moment in the sale of an apartment. Good organization can be the difference between closing the deal or letting an opportunity slip away. Here are some essential points that at Galgo Real Estate we carry out effectively at this stage.

Organization of visits

To increase the chances of sale, organizing visits to the property is key. It's not just about coordinating schedules; it also involves preparing the space to be impeccable and attractive when future buyers arrive. A well-presented environment and efficient management of visits can be decisive for closing the deal.

Schedule coordination

Coordinating schedules well is crucial to receive several interested buyers without problems. Establishing an availability calendar can help plan visits in an orderly manner.

• Set a specific schedule for visits, indicating available days and time slots.
• Use applications or digital tools that allow interested parties to book a time that fits them.
• Maintain a certain flexibility and adapt the agenda to the needs of potential buyers to increase the number of visits.

Good organization at this phase can make a difference and speed up the sales process.

Answering doubts and frequently asked questions

Being ready to answer questions that may arise during visits is key. Buyers often have doubts about various aspects, from the property itself to the neighborhood and associated costs. Some of the most common questions and how to address them include:

• What is the age of the building and the apartment? Prepare yourself with concrete data about the year of construction and any renovation carried out.
• How are community expenses distributed? Have a summary of monthly fees and what they cover, such as maintenance and services.
• What services and businesses are near the property? Mention shops, schools, public transport, and green areas that add value to the location.
• Are there urban projects in the area that might affect the property? Learn about possible developments or changes in the area that could influence the value of the property.

Anticipating these questions not only facilitates visits but also generates trust and shows professionalism, which can be decisive in the buyer's decision-making.

6 Negotiation and signing of the Earnest Money Contract

Price negotiation is one of the most delicate moments in the sale of an apartment. When a buyer shows real interest, it's time to talk numbers and agree on a deal that's advantageous for both. Handling this step skillfully can make the difference between successfully closing the sale or letting it slip away.

Price negotiation

At this stage, knowing the real value of the property for sale is important. Being prepared to respond to offers with solid arguments and maintaining a flexible attitude, but with clear limits, can be the key to closing the deal. Negotiation is a balancing act: being open to proposals without losing sight of what your home is really worth will help you reach a satisfactory agreement for both sides.

Negotiation strategy

Defining a solid strategy is essential to carry out a successful negotiation. Here are some aspects to take into account:

• Establish a minimum price that you are willing to accept, so as not to commit more than necessary.
• Know the market and price offers in the area to have a solid base in your negotiations.
• Maintain a receptive attitude to buyers' proposals; being open to different options can lead to a beneficial agreement.
• Prepare solid arguments that justify the requested price, highlighting the characteristics and advantages of the property.

A good strategy will allow you to maintain control of the negotiation and maximize the value of the sale.

Completion of the Earnest Money Contract

With the price already agreed, the next step is to formalize the agreement through an earnest money contract. This document is fundamental, as it seals the intention to sell, detailing the terms and offering security to both the seller and the buyer. It is a guarantee that demonstrates the commitment of both parties to advance in the sales process.

Deposit amount

In the earnest money contract, the buyer usually delivers an amount as a sign, an advance on the final sale price. This figure, which is usually between 5% and 10% of the agreed price, must be previously agreed upon by both parties to avoid confusion later.

The delivery of this deposit has significant legal weight. On one hand, it guarantees the seller that the buyer is truly committed to the transaction. If the buyer backs out, the seller has the right to keep the deposit as compensation. On the other hand, if it is the seller who decides not to continue with the sale, they must return double the deposit to the buyer. This clause protects both parties and establishes a clear commitment in the operation.

7 Formalization of the sale

This step is essential to finalize the property transaction. Here, the necessary documents are handled and the official signature is made that transfers ownership of the property to the buyer. This phase closes the process, ensuring that everything is in order for the sale to be legal and effective.

Making an appointment with the notary

After agreeing on the price and signing the earnest money contract, the next step is to set an appointment with the notary. This professional will take care of the final step in the transaction, formalizing the sale through the signing of the public deed. It is at this moment when the property is officially transferred to the buyer, leaving everything legally closed.

Preparation of necessary documents

Before going to the appointment with the notary, it is crucial to gather all the necessary documentation to formalize the sale. Among the documents you should have ready are:

• Property deed of the property.
• Signed earnest money contract.
• Energy efficiency certificate.
• Certificate confirming the absence of debts with the community of owners.
• Latest IBI receipts.
• Simple note from the Property Registry.

The notary will review these documents to verify that everything is in order, thus avoiding possible inconveniences during the signing. This review ensures that the transaction takes place without problems and with full legal guarantee.

Signing of the public deed

At the appointment with the notary, the public deed of sale will be signed. This legal document is what officially formalizes the transaction and allows the transfer of the property to the buyer. It is the final and essential step for the sale to be registered and legally recognized.

Registration in the Property Registry

After signing the deed, the notary will send the document to the Property Registry. This registration is key for the new ownership to be officially recognized, providing legal security to the buyer. By registering the property in their name, it is guaranteed that it is legally registered, avoiding future conflicts.

This process not only marks the end of the sale, but also establishes the legal basis that supports the property. Therefore, completing this stage is fundamental to close the transaction in a safe and effective manner.

8 Post-sale, final procedures and tax settlement

Once the apartment sale is completed, it is essential to comply with certain procedures and tax obligations to close the process completely. This final stage includes several important steps that should not be overlooked to avoid future legal or economic problems.

Notification to the community of owners

After the sale, it is essential to inform the community of owners about the change of ownership of the apartment. This notification ensures that the new owner receives all the information and rights that correspond to them, such as access to meeting minutes and details about common expenses. Thus, the community can update its records and ensure that future communications reach the new owner.

Change of ownership in the Cadastre

Making the change of ownership in the Cadastre is an indispensable step for the new owner to be officially registered. This ensures proper management and correct updating of taxes associated with the property, avoiding possible problems or misunderstandings in the future. In addition, it ensures that all information is up to date in official records.

Ownership change process

The change of ownership is done by submitting an application to the corresponding Cadastre office. To complete this procedure, it is necessary to provide relevant documentation, such as the deed of sale. This process ensures that the data of the property and its owner are updated in the cadastral records, thus facilitating the correct management of taxes and avoiding future inconveniences.

Paying taxes related to the sale

Selling an apartment involves complying with certain tax obligations that cannot be ignored. The most important taxes to take into account are the **Municipal Capital Gains Tax**, which taxes the increase in value of the land, and the **Personal Income Tax (IRPF)**, which applies to the profits obtained from the sale. Attending to these taxes is crucial to avoid problems with the Tax Agency and close the transaction legally.

Municipal Capital Gains Tax

The Municipal Capital Gains Tax is calculated according to the increase in the value of the land from when it was acquired until the sale. This tax is managed in the corresponding town hall. Normally, you will have to present the deed of sale and the tax receipt to make the payment. It is a procedure that ensures that the increase in the value of the land is registered and taxed correctly.

IRPF Declaration

The IRPF taxes the capital gains generated by the sale of the property. If you have sold your home for a price higher than what you paid when you bought it, you will have to declare that gain in your income tax return. It is crucial to gather all information about possible applicable expenses and deductions, such as renovations or notary expenses, as they can reduce the final amount to pay. This detailed calculation can make a significant difference in the amount you will have to pay.

Selling an apartment can be a complex process, full of details and steps that cannot be overlooked. From preparing the property and setting the right price, to managing documentation and complying with tax obligations, each stage is crucial to successfully close the sale.

At Galgo Real Estate, we know what this entire process entails and we are here to make it easier. If you are thinking of selling your apartment, you can count on our team of professionals.

We take care of each step, ensuring that your property sells in the best conditions and in the shortest possible time. Trust us and take the first step towards an effective sale!