Q. How will I know I am asking the right price?
A. Valuing your home has never been an exact science – there are many things to consider. The location, style and size of the accommodation are usually the most important factors, together with the condition of the property and any improvements that may have been carried out. We research recent sales in the area and take account of current demand for your type of property.
Q. Will l still have to pay your fees if my property does not sell or I take it off the market?
A. You will only be liable to pay our fees if we introduce a buyer who exchanges contracts.
Q. Are there any additional marketing costs?
A. No – all marketing costs are included in the Agents commission fee.
Q. Do I have to pay Capital Gains Tax on the property?
A. If you are selling a property that is your main home, you won’t have to pay tax on it as long as you satisfy certain conditions. However, if you are selling a property that is not your main home, it is likely you may have to pay Capital Gains Tax.
Q. If I give you a key to my home will you accompany buyers to view?
A. Yes. Many owners prefer to leave keys with us for viewing appointments, and we will always accompany potential purchasers. Keys are security coded and are never released without your prior authority to do so.
Q. Apart from initial advertising how else would you market my property?
A. We keep in regular contact with the potential buyers by e-mail and telephone, ensuring viewings are arranged of properties fitting their criteria.
Q. Will I receive feedback following viewings?
A. Frequent communication between the agent and client is essential. We are both looking to achieve the same goal and will review market response with you regularly.
Q. Should I take my property off the market once I have accepted an offer?
A. Your buyers will usually expect you to remove the property from the market whilst they arrange for their deposit to be transferred.
Q. Can I market my property immediately?
A. Yes. Once you give us the go ahead, we can arrange photos to be taken and market your property within days.
Q. Who takes the photos and writes up the descriptions?
A. We do. Once you have got in touch with us and confirmed that you would like to go ahead with marketing your property, we will send one of our team to see you to take all the photos, virtual tours and write the details. Of course, you will be able to review and request changes to these at any time.
Q. Which areas do you cover?
A. We have two offices based in Puerto del Carmen and we cover the whole of Lanzarote.
Q. How much do you charge for agents fees?
A. We charge 5% of the property sale price.
Q. What other costs are involved when selling my property?
A. Land Tax or Plus Valía : calculated on the numbers of years that they’ve owned the property, 3% Retention: to pay towards any Capital Gain (non-resident’s tax), Energy Certificate (if you don’t have one), Electric update + CAI (for properties that are over 20 years old).
A. We work with you and the viewer to find the best time for appointments, all our viewings are booked through our central diary and all parties’ receive communication ensuring confirmation of dates and times. Roper Properties will also work with you and the potential purchaser to get the best possible price for your property and ensure all offers are genuine.
Q. What documents do I require at the time of marketing my property?
A. It is useful to have these documents ready as they will be required when a sale has been confirmed: NIE number (copy of the document), copy of passport or ID card, copy of the Title Deed, copy of a water & electric bill, copy of a rates receipt, details for community management if on a complex, Residencia fiscal if tax resident(s).
A. It is not essential to redecorate your property before placing it on the market, however, if an area is in need of a lick of paint this will appeal to potential buyers. First impressions count, making the presentation of your property critical to a successful sale. Consider addressing any DIY jobs you have been meaning to get done, add a fresh coat of paint where necessary and try to declutter to make rooms appear larger.
Q. Are property prices negotiable?
A. Yes property prices are negotiable and every situation is different.
Q. What other costs are involved when purchasing a property?
A. Allow 9% on top of the purchase price. This includes title deed registration, notary costs, and all legal fees.
Q. How much deposit is required to secure a property?
A. 10% is usually required.
Q. Can I apply for a mortgage with a Spanish Bank in Lanzarote?
A. Yes – It is a fairly easy process and you will know whether you qualify quite quickly. Spanish banks will lend based on individual personal circumstances. We advise that they will loan 60 – 70% of the property value. You will be required to provide proof of income etc.
Q. Will I require an NIE number?
A. You will require an NIE number.
Q. How do I open a Spanish bank account?
A. We are happy to help you open a bank account. You will need a copy of your passport and proof of address.
Q. Can I choose my own lawyer?
A. The choice is yours. We are on hand to help and happy to recommend a reputable lawyer.
Q. How long does it take to complete the purchase?
A. It can take 6-8 weeks but this varies depending on circumstances.
Q. What is an escritura?
A. This is a title deed and contains details of the property, including, the legal owner, plot size and built area etc.
Q. What is a Nota Simple?
A. This is the land registry search that is carried out on the title deed of the property that you are interested in buying. It gives details of ownership, mortgages on the property etc.
Q. What other costs should I consider with owning a property?
A. Water & electricity (metered), annual property rates (IBI), annual rubbish collection (Basura), house insurance and if you live on a complex there will usually be a monthly community fee to consider.
Q. Do I need a Spanish will?
A. It is not obligatory but it is advisable to make a Spanish will to prevent future complications, and we are happy to discuss this in detail with you.