By Annie Dabb • Updated: 20 Feb 2023 • 17:16
Image - Altea: Ekaterina McClaud/shutterstock
This essential guide will explain how to sell your home in Altea, what you need to do to find out the value of your property and how long you can expect it to be on the property market, as well as which all-important documentation you’ll need to make the sale. We also highly recommend having a knowledgeable estate agent to assist you on your selling journey and to deal with all the technical know-how and complicated legal jargon!
The idyllic, medieval town of Altea, located on Spain’s Costa Blanca, is without a doubt one of the most charming towns in the Alicante province. With opportunities aplenty for meandering along cobbled streets or taking a romantic stroll along the palm-lined promenade which gazes out onto crystal clear waters, Altea is also lucky enough to be framed by the Peñon de Ifach and the Helade mountain range, promising stunning scenes in every direction.
Situated between well-known Benidorm and Calpe, Altea can be reached using the Ap7 highway and is perfect for those who want a pleasant mixture of the gorgeously vibrant city lights of the former (without the rapacious, overdone nightlife!) with the rich culture of the latter. With a year-round temperature of around 18-20 degrees and various excursions only a short drive away, Altea is a popular choice for those looking for somewhere to move to on the Costa Blanca.
However, like with most things in Spain, having a professional to guide you through the selling process will make everything so much easier – trust us! From translating legal documents for you to ensuring that all your legalities are legitimate, to finding those all-important buyers to secure your sale, Costa Blanca Realty will make sure of a smooth process from start to finish.
From charming whitewashed houses perched upon a hilltop in Altea’s old town to the well-connected tram station and busy morning market’s in the town’s newer district, it’s no wonder that people are attracted to somewhere so breathtaking and quintessentially Spanish to invest in a new property, especially those in search of a laid back lifestyle.
Known as the hidden jewel of the Costa Blanca, Altea is quickly becoming more and more popular as a place to buy property as people visit and fall in love with the picturesque seascapes and marvellous mountain views, as well as all the amenities you could need in one place.
Property prices can vary quite a lot in this part of Costa Blanca, but a 2 bedroom apartment is likely to cost between €300,000 and €600,000 and a villa or a townhouse is likely to cost around €1,000,000 – depending on size, of course.
Speak to Costa Blanca Realty to get an accurate valuation of your property and move on to the next step of selling your property.
Spain’s property market is currently booming, even more so since the pandemic has meant that people are spending more time at home, and want their living environment to be a nice place to be. This means that with the right guidance, you could sell your home within a matter of months!
The most time-consuming part of the selling process can be the legal paperwork, however, once this is all done and dusted with the help of Costa Blanca Realty and you’ve signed on the dotted line, you will sell your property in no time. Of course, it’s always advisable to leave a bit of room for negotiation.
1) Plusvalia – sellers have to pay a tax based on the incremental value of the land which the property occupies over the number of years you have been the owner.
2) Community Fees – Make sure your Community Fees are up to date. Usually, you will have to present a Community Certificate to the buyer when signing the Title Deed to prove this.
3) IBI and Utilities – make sure your utility bills are all paid up as these will need to be settled up to the date of sale. You will need to provide the original proof of payment when signing. Sellers have to pay the IBI or council tax for the whole year they are selling.
4) Mortgage Cancellation Fees – Your bank will probably have a 0.5 per cent to 1 per cent cancellation charge for the balance of your outstanding mortgage.
5) Mortgage Cancellation and Registration Fees at the Notary – In addition to point 4) as the seller, you will have to make sure that your mortgage is cancelled at the Notary and Registry. This may cost anywhere from €600 to €1000 and is an amount that will probably be held by the solicitor to make sure that this is done.
6) Non-Resident Retention 3 per cent – If you are not a resident of Spain, the buyer of your property will also have to retain 3 per cent of the sales price stated in the “Escritura” (Title Deed) to pay to the Spanish taxman (Hacienda) on your behalf towards your Capital Gains Tax. Fiscal residents do not have any retention made on them, however, they may have to pay tax on the sale the year after when filling in their tax returns.
7) Agents Commission – If you have used an agent to sell your property, you will also have to pay fees to the agent.
8) Legal fees – A good legal office will prepare utility contracts, community charges and “Suma” invoices, speak with the purchaser’s representatives and the Notary, book the Notary appointment and organise all of the related paperwork, go with the seller to the Notary and translate for them, calculate the 3 per cent retention, calculate and advice re Capital Gains Tax and give fiscal representation throughout the selling process.
There are lots of documents you need when selling a house in Spain. The best and safest way to make sure that everything is legitimate and done properly is to leave it to the experts in the form of an experienced real estate agent such as Costa Blanca Realty who can help and offer guidance throughout the whole process.
The main documents you need may include:Preparation of utility contracts, community charge and “Suma” invoices.
Remember, what attracts many potential buyers to a home in the Costa del Sol is having somewhere to relax and enjoy the gorgeous weather and relaxing Spanish lifestyle. It’s important to make your property stand out on the internet so that people can imagine themselves living their ideal lifestyle, complete with a beautiful home.
We have all been to property viewings where as soon as we stepped foot through the door we could imagine ourselves in that space because of how it’s presented to us – the same goes for those properties that don’t really do it for us when we go to see it in person! We have some top tips for you to prepare your home for those all-important photo listings and property viewings.
Thank you for taking the time to read this article on Selling your Home in Altea. Do remember to come back and check The Euro Weekly News website for all your up-to-date local and international news stories. Remember, you can also follow us on Facebook and Instagram.
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From Newcastle originally, Annie is based in Manchester and is a writer for the Euro Weekly News covering news and features. Got a story you want to share? Then get in touch at editorial@euroweeklynews.com
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