When you decide to sell your property, you will probably do some research as to what sales price you can hope to achieve, this may be due to neighbouring properties being marketed, online research being done and the cost of new construction, known as replacement value. These are all factors that need to be considered.
When and if you decide to use an agent to sell your property, the probability is that the agent and yourself will consider and discuss the above factors to help you come to a decision about the asking price for the property. If as sometimes happens, there is a difference in opinion about the estimated valuation amount, then it is recommended that the client seeks an official valuation from an independent company of valuers. This type of valuation will have a cost of a few hundred Euros but will also prove most useful if you wish to apply for a mortgage loan on your property. This type of loan can be used to secure the purchase of another property whilst yours is in the process of being sold, or it can be transferred to the buyer of your property to speed up his buying process.
After many years of experience in Marbella and the Costa del Sol, NCH Dallimore Marbella has extensive knowledge of property valuation in the area, enabling us to accurately value your property. – Read more
It is important to keep in mind that the asking price you request for your property should allow for the agent’s fees, and some room for price negotiation if necessary. Achieving the correct asking price at the start of the marketing period is important as if the property is overpriced and sticks around on the market for a long period of time, it then just appears ‘tired’, and any offers made tend to be much lower than the original asking price.
A good professional agent should always make the seller aware of the various disadvantages of asking the wrong price at the start of the marketing campaign. If the asking price is correct to start with, then the property should be able to be sold within a reasonable time period, dependent on current market conditions. In this area, there are many holiday homes and properties belonging to people who only stay for part of each year, consequently many buyers here display little urgency during the buying process as there are so many properties available for short term rental.
The information provided in this guide is intended for informational purposes only and does not substitute legal advice. The contents herein may be subject to errors, omissions and amendments. Accuracy is not guaranteed.