What does THAT mean?

This is an A-Z glossary of Spanish terms that you may come across when selling privately.

A
Abogado - lawyer
Acta de notoriedad – Legal act or document
Acta notarial – Notary’s certificate (debts)
Actos juridicos documentados – Title registry
Agrupación de Fincas – Group of country properties
Alta catastral – Land registry inscription
API (Agente de la Propiedad Immobiliaria) – Official estate agent
Arrendamiento de obra – Building contract
Asiento de presentación – Provisional property inscription at the land
registry
B
Boletín de enganche – Supply report. It contains information on how
much power and water a property is allowed
C
Cancelación – Cancellation
Cédula de habitabilidad – Habitation certificate
Certificación - Certification
Certificado bancario de devisas – Foreign currency bank certificate
Certificado final de obra – Building completion certificate
Código civil – Civil rights
Cómision de urbanismo – Building commission
Comunidad de propietarios – Community of owners
Condición resolutoria – Condition to cancel a contract
Condición suspensiva - Condition to postpone a contract
Contrato de arrendamiento – Rental contract
Contrato de opción – Optional contract, with the right to buy a
property, mostly by paying 10% deposit
Contrato privado de compraventa - Private purchase contract
Copropietarios – Co-owner, when several persons own a property
together
Cuerpo cierto – Non variable condition. A condition that cannot be
changed
Cuota – Instalment, charges
D
Declaración de obra nueva – New build certificate
Demarcación de Costas – Coastal
Derecho de retención – Deposit that you pay to the Internal Revenue
office if you are not resident in Spain
Derecho de superficie – Land management rights
Derecho de tanteo/retracto – Purchasing rights enables you to reserve
an object to then later buy it or not
E
Edificabilidad máxima – Construction limits
Embargo - Repossession
Escritura - Deeds
Escritura publico de compraventa – Public sales deeds
F
Fianza - Deposit
Finca – Country property
Finca registrada – Registered country property
H
Hacienda publica – Internal Revenue
Hipoteca – Mortgage
I
IBI (Impuesto sobre bienes immuebles) – Real Estate Tax
Impuesto de actos juridicos documentados – Documented legal acts
tax, that is to be paid to lawyers
Impuesto de transmisiones patrimoniales – Property transfer tax, 6-
7% of the indicated sum at the escritura
Impuesto sobre construcciones, instalaciones y obras – Construction
and installation tax
Impuesto sobre el patrimonio – Wealth tax
Impuesto sobre sucesiones y donaciones – Succession and gift tax
Impuestos municipales – Local tax
Información urbanistica cédula – Urban planning department
Institución de heredero – Appoint an inheritor
IRPF – Income tax
L
Ley de arrendamientos urbanos – Local rental laws
Ley de la propiedad horizontal – Horizontal property tax
Ley del suelo – Floor area regulations
Licencia de obras – Building permission
Licencia de primera ocupación - First occupation licence
N
NIE (número personal de identificación de extranjeros) – Foreigners’
personal identification number
NIF (número de identificación fiscal) – Fiscal identity number
Nota simple informativa – Land register certificate – Local Search
Notario – Oficial authorised to certify contracts
O-P
Obligación personal – Obligation to pay tax as a resident
Ocupación máxima – Maximum occupancy
Parcela – Plot
Perito – Expert
Permiso de obra menor – Minor building permission
Plan parcial – Urbanisation plan
Planta – floor or level
Plusvalía – Value Added Tax
Poder - Authorisation
Posesión - Possession
Precio de venta – Sales price
Procurador – Barrister
Promotor – Promotor
Propiedad – Property
Propietario - Owner
Proyecto de ejecución de obras – Building execution
R-S
Recepción definitiva – Construction completion
Registro de la propriedad – Land register
Representante fiscal – Fiscal representative
S.A. (Sociedad Anónima) - Association
S.L. (Sociedad Limitada) – Limited company
Saneamiento – Reconstruction
Segregación de fincas – Country property positioning
Separación a linderos – Distance between plots
Servidumbre de tránsito - Accessibility
Solar – Building plot
Suelo no urbanizable – Non buildable plot
Suelo rústico – Non permanent floor
Suelo urbanizable – Building land or plot
Suelo urbano – Urban area
T
Tarjeta de residencia – Residence card
Tasa – Fee
Toma de posesión – Taking possession
Traspaso – Transfer
U-V
Urbanización privada – Private urbanisation
Uso de oficinas – Office use
Usucapción – When you get a plot for a time period accorded by the
courts
Usufructo – Rights of use
UTM – Plot number at the land register
Valor catastral – Land register value
Valor comprobado por la administración – Amount checked by Internal
Revenue
Valor real – Real estate value
Z
Zona de servidumbre de protección – Accessibility protected area

Creting an impressive on-line listing.

Find out more about private sales in Spain here

Introduction:

This guide is designed to help you with the writing of your listing when using a private sales websites like www.spanishsalesdirect.com. Your property details can be a huge incentive for a buyer to take a closer look, if written well…and to move on to another listing if not!

The Summary Description:

Keep it brief – It is very much a case of 'less is more' and the details should attempt to provide a teaser as to what your home offers. Just include enough information sufficient to encourage people to want to arrange a viewing.

So stick to highlighting the main features, and think back to the reasons you fell in love with your home, those same reasons may well be relevant for today. Make it positive and appealing to buyers. Ask the following questions of your property and include the answers in the summary.

• What is the wow factor my home?
• What are the features of the property?
• Does it have any unique features?
• Are transport links or location a factor?
• Are local schools, shops & amenities well situated?
• Is the area desirable & why?
• What local places of interest are worth mentioning?

Taking Measurements:

Always measure a room to its maximum advantage. For example, if you have a bay window measure all the way into the bay. In the description for the room, the following wording can then be included - 'room measurement into the bay'.

If there are fitted wardrobes in a bedroom, measure all the way to the wall. Just make sure some appropriate wording is again added to the room description - 'Measured into wardrobes'.

It is difficult to measure the garden accurately, but state when measurements are approximate.

Be as precise as possible by using a tape measure, you are responsible for ensuring the accuracy of your property listing. It is well worth asking someone to help, especially for large rooms. To lessen the chance of mistakes, take the measurements twice. And remember, always state when measurements are approximate.

Individual Rooms

The rooms should be listed in order of size, with the largest first, them subsequent rooms getting smaller. Rooms on the listing could include:

• Living room
• Lounge
• Bathroom (Family or 'En Suite')
• Dining room
• Bedroom (master or other)
• Kitchen
• Playroom
• Porch
• Hallway
• Conservatory
• Study
• Cloakroom

Room details:

Your listing should include as much information as possible about your rooms, always ensure it is accurate. If there is any doubt, it is best to leave it out rather than mislead.

Buyers will be interested in features a room has, and the position of the room in the home. The following list offers some good examples of details to include.

• Fireplace - original, wood burning, gas
• Flooring – stone, tiles
• Doors - French, patio, panelled, stained glass
• Windows - bay, double glazed, sash
• Aspect - French doors onto terrace, window overlooks front of house
• Lighting - wall, ceiling, spots, dimmer
• Points - television, satellite, telephone, power
• Heating - radiators (number), gas heater, electric heater
• Dining - can accommodate 4/6/8 seat table
• Cloakroom - WC, basin, tiled, part tiled
• Loft access

Kitchens:

The kitchen is a very important room and can be the key deciding factor for buyers. It is worth spending time and effort describing the kitchen in detail. The following list offers advice on the details to include.

• Type - modern, country style, classic, fitted, freestanding
• Storage - cupboards, pantry, shelving
• Sink - single, double, stainless steel, white, Belfast, tap type
• Flooring - tiled, stone,
• Lighting - spots, under cupboard, wall
• Windows and aspect - front, rear
• Dining - can accommodate 4/6/8 seat table, breakfast bar

Details of appliances need to be included also, and should be listed along with manufacturer (if a plus point). State if an appliance is freestanding or integrated, integrated means built into the kitchen units and usually with fronts to match the kitchen doors.

• Oven - gas, electric, oil, single, double, fan assisted, stainless steel
• Hob - gas, electric
• Extractor fan
• Fridge freezer
• Dishwasher
• Washing machine
• Tumble dryer

Bedrooms:

Bedrooms are usually listed in order of size, with bedroom 1 being the largest followed by further bedrooms in order of decreasing size. The following list offers suggested details to include. Original features are well worth including.

• Windows and aspect - front, rear
• Flooring - Type
• Heating - radiators, heaters
• Storage - built in wardrobes, shelving
• Points - telephone, television
• En-suite - refer to bathroom number

Bathrooms:

Bathrooms should be listed in order of size with bathroom 1 being the largest (usually the family bathroom) followed by en-suites and separate toilets. The following are suggestions of what can be in the listing.

• Suite - 3/4 piece suite comprising bath, basin, WC
• Colour - recommended only for white
• Age - only when new or recently fitted
• Bath - panelled, roll top, freestanding, corner, spa
• Shower - electric, power shower, manufacturer
• Tiling - complete, part, patterned, plain
• Windows - frosted, double-glazed
• Make of components (e.g. Roca)
• Lighting - spots, halogens

Outside space:

The outside of the property can be as important as the inside. Of particular interest to buyers are gardens and parking facilities and pool/terrace areas.

• Driveway - number of cars, tarmac, gravel, paving
• Parking - garage, car port, allocated
• Front garden - flower beds, mature shrubs or trees
• Rear garden - flower beds, mature shrubs or trees
• Patio - paving, stone, decking
• Swimming pool – size ,shape, depth
• Court yard - size, privacy
• Aspect - south, west, east, north facing

Photographs:

A picture paints a thousand words! - Photographs that are uploaded to the listing have a massive impact on potential buyers. Most buyers will make an instant decision, based on a photograph alone! It is therefore absolutely vital that every photograph presents the property, inside and out, as favourably as possible.

• Take plenty of photos and then sort out the best ones.
• Always take photos with the flash. This will ensure they have plenty of light and are crisp and bright.
• Don't have any family, friends or pets in the photos.
• If you have access to photo editing software, then use it to improve the shots.
• If possible, take outside photographs on a sunny day. A beautiful blue-sky always looks more inviting than a photo taken on a dull overcast day.
• Tidy up outside beforehand.
• Move cars from the driveway, to give impressions of space.
• Renew hanging baskets, and trim any hedging or untidy greenery.
• Put empty plant pots, hoses, etc into sheds.
• Clean and set out the patio or pool furniture attractively.
• Generate an impression of space by taking photos at different angles.
• Make all photos as light as possible. Open the curtains and use the flash.

I hope this guide inspires you to go and create a really eye catching listing.

Preparing your home for a viewing.

You can read more about private selling and buying in Spain here

'Presentation' is the key word.

This is not just about painting the front of your house, tidying your patio and brewing fresh coffee before buyers come round. People will buy the best home at the best price that meets their needs.

Buyers will look to find faults, to find a reason why they should not buy, or to be able to offer a low price. Some may know that they are doing this, but for many it is subconscious. As a vendor, you need to give the buyers as little reason as possible to find fault.

We all get attached to our home, but sometimes changes need to be made to enable us to move. A few hours may be all you need, although a thorough home staging project could take anything up to a week.

It is also often hard to think of spending money on the house you are leaving, but you should make a return on any investment. So fix that leaking tap, re-hang that door, and finish grouting those tiles because the biggest put-off to potential buyers is the odd jobs you have been putting off that they know they will have to do. By taking away all the negatives, the only thing left must be positives!

Some tips for staging your home:

1. Tidy the front of the house.

First impressions Count! Ensure that the front of the house is attractive and inviting. Touch up peeling paintwork and clean windows. Do you have any colourful hanging baskets or pots? You need to entice people in, and, many people may see the front of the house before even booking an appointment to view.

2. Is your entrance inviting?

Create as much light as possible in your entrance. Put a mirror in to reflect light. Paint the walls a warm neutral colour. Lay an attractive runner to break up the floor.

3. De-Clutter.

If you do not love it, need it or want it - throw it!

We are all hoarders. Take one room at a time, and sort through it. You’ll be amazed how much you throw away or can sell!

4. Clean through.

Your house needs to be spotless! Is your furniture clean? Remove cobwebs from the ceiling corners and dust from under the bed, you’ll be amazed where people look! No one wants to see washing up in the sink, and ensure there are no lingering odours or traces of last night's dinner anywhere. If you are a smoker or have pets, you might need to work harder to shift smells.

5. Use accessories and artwork.

Don't clutter every shelf up with accessories and hang artwork randomly around the walls, but use architectural features to guide you into how to hang your artwork and choose a careful selection of your accessories and position them to create maximum impact. They should coordinate or complement with your decor.

6. Create a feature in every room.

Many rooms have natural features, for example a fireplace, or a window with a fabulous view. However, sometimes you need to be more creative if the house lacks features. E.g.: always dress the dining room as a dining room and not a 'spare' room. A table with a large bunch of flowers in the middle could be the feature.

A sumptuously dressed double bed in the master bedroom can be the feature there. Allow one feature in each room to dominate though. Don't have several features competing for attention. Try to create that all important 'WOW' factor!

When selling your home, you cannot afford to have any room without a purpose.

When your viewers finally arrive, try to appear relaxed, happy and confident that your home will sell itself. And although you will be proud of all of your excellent preparation work, try to resist pointing out all that you have recently done to potential buyers….it can undo a lot of hard work if they leave with the feeling that you may have been 'papering over the cracks' before their arrival!

See my next post "Creating an on-line listing"

A step-by-step guide to selling privately.

You may find it useful to first read about private selling in Spain here

Valuation

It is easy to value your own property. The fact is that the asking price put on your property by any agent is only an 'educated guess'.

Remember that the asking price of the property is just the amount you want for it, not necessarily what you'll actually get. You can find out recent purchase prices in your area by asking new neighbours how much they bought for. But don't set your price too low, as you could end up doing yourself out of thousands. AND don't set it too high either, as you'll just scare off buyers. If you genuinely feel that your property is worth more than others you have seen, then you will need to be able to justify why!

Taking enquiries

How do I vet potential purchasers...?

E-Mail communication to start with is best. When you are convinced they are serious then perhaps talk on the telephone. Take their details

and call them as opposed to the other way around.

Do not be afraid to ask questions. What's their selling situation? Do they have financed arranged? This may eliminate time wasters and show urgency to the potential buyer.

Conducting Viewings

OK, you've vetted your viewer, arranged a time for them to visit your property & you are now ready?

Don't go to town on contrivances (like fresh coffee). You just need to appear comfortable and happy in your home when they arrive.

Ensure there is parking available for the viewer. If possible leave your drive clear. Provide an impression of no hassle parking, and space.

Welcome your visitor with a smile and handshake. Introduce yourself and if a partner or children are there, them too. Remember this is still your house, so take control of the situation.

Give them a brief of the property and lead them into the first room.

You could give them an overview of the rest of the property and then let them find their own way around. Do not over dominate, take a back seat BUT be sure to point out all of the selling points of the property.

If they are not local, talk to them about the area and where local schools, restaurants and other amenities are in relation to your property, and talk about why you've loved living there.

Everyone loves their own pets, but other people's pets are a different matter. Some people are allergic to some pets; some people simply do not like animals. Therefore, it is always prudent to ensure that any pets are excluded from the viewing process by keeping them well out of the way.

Try not to sound too 'sales-like'. Mention the features and benefits, but be succinct: for example if you are pointing out a patio, the feature is the patio and the benefit is that it has sunshine on it all day and its great for entertaining....that is enough.

There's also some information that you should get from them too:

1. Are they in a chain?
2. Are they a first time buyer?
3. Do they have a mortgage approved?
4. How long have they been looking?

Try to have confident answers to questions that may come your way such as:

1. How long has the house been on the market?
2. Have you had much interest? (Of course you have!)
3. Have you had any offers?

You need to create a feeling of desirability. If you’ve had some serious interest - be sure to tell them - it may stimulate their interest further.

Making a Sale

For the lucky it may happen after one viewing - for others it may take more, but sooner or later an offer may materialise.

When an offer is accepted a memorandum of sale should be sent to the buyer.
This should include the following:

• the agreed sale price
• any conditions of sale
• the buyers name and address
• the sellers name and address
• solicitor details for both buyer and seller

Negotiation

For most, an offer will come in below the asking price. The question is, how far below?

If around 5% less, then you need to do some thinking... On a €300,000 property that's €15,000 less than the asking price. Your thinking should be based on how competitive your original asking price was.

If 10% or more below it, either you have misjudged it, or the buyer is trying their luck… Thank them for the offer, explain that it is too low and (if this is the case) you've had higher offers that you have turned down too and hopefully they may start to name a more realistic price.

If the prospective buyer is adamant about the offer, and you are still confident in your valuation then it may be time to 'walk away'. But stay calm! - Don't let your emotions cloud your judgement. Always remain polite despite what you may feel to be a ridiculous offer. A potential buyer may just be testing the water and may come back with a better offer. If there is not much of a difference between the offer and asking price then an agreement is probable, just be patient.

Survey

A buyer (or their lender) may instruct a survey of the property, checking the condition and to confirm value.

Legal Process

It is a misconception that estate agents do more beyond the point of finding you a buyer, THEY DON’T. Estate Agents are NOT legal professionals (although the frequently earn far more than them!).
When the agent has secured a sale, the legal team steps in…solicitors.

Just as you would when selling your home through an estate agent, it is important to have a solicitor lined up ready for when you accept an offer on your property privately.

A private property sales contract (Contrato de compraventa de vivienda) is a private document in which the seller must hand over a property to the buyer for an agreed price. It is important to pay attention to certain aspects of this contract such as who will be liable for any previously unpaid bills etc. And it is always advisable to obtain the 'nota simple' from the property registry to make sure the property has no outstanding debts or liabilities.

The 'Spanish National Consumers Institute' has approved a standard 'Private property sales contract' which has been adapted to fit in with current laws for consumer protection. Ask your solicitor for details of this.

Completion

Assuming that the solicitors have done their job, it will soon be time to for a completion date.

Contracts are then exchanged. Once you have signed those documents, and the documents are in the hands of the other solicitors, you have effectively entered into a legal agreement.

When completion day comes, funds are usually transferred from their solicitor to yours (less any deposit), and the property is then theirs.

'I truly believe that both owners & buyers truly benefit from the absence of agents'.

Read my next post "preparing your home for a viewing"

And find out how Estate agents' contracts effect private selling HERE.