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How to sell your property to foreign buyers

If you have a property to sell but haven't yet received any satisfactory offers from local buyers, you may decide to search the international market for potential buyers to fulfill your demands. This task may seem absolutely normal given the circumstances, however, do you know how to sell your house to people who live in another country? If the answer is no, pay attention to what we are going to tell you here as we will reveal all the tips.

Look for an estate agent who specialises in the international property market

This is of vital importance since the rules and regulations of every country, including Spain, are quite complex and require a series of procedures to be fulfilled when selling a property to a foreign buyer. It will be difficult for you to handle or understand each and every legislation so it is best to use the services of a specialist estate agent. In most cases, the sales commission is even payable by the buyer so you won't have to foot the bill.

You must also take into account the fact that foreign buyers will usually assign highly qualified advisers who manage their assets in a professional manner. This is why in order to have similar support from professionals and negotiate on an equal footing, it is important that you also have an adviser, an estate agent, and a legal team at your disposal so that the completion process goes as smoothly as possible.

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The key is in the marketing

Leaving aside the part about the estate agent, you must bear in mind that marketing becomes a particularly important aspect when selling a property to a foreign buyer. This is mainly due to the fact that the relevant information about your property has to be published through international channels so it is essential to use the right advertising strategy.

Foreign buyers are also very cautious about possible frauds, so they only rely on sources that they can trust. This is why you should proceed to advertise the property through specialist websites or reputable estate agencies that not only operate in Spain, but also in other parts of the world. In fact, whichever company operates in the buyer's country of origin can make or break the deal for you. 

How should you deal with foreign buyers?

As we have already mentioned, foreign buyers are usually more cautious, especially when buying a home in another country. In most cases, one must bear in mind that such buyers make the property purchase in cash or resort to borrowing very small loans. This means they are usually people with a very high purchasing power and know exactly what they want. 

It is also important to be clear about your requirements right from the start. By this we mean that the terms and conditions must be agreed in advance so there will be no come-backs later. For example, even if the tax implications for purchasing the property are not your responsibility as the seller, it may be helpful to clarify what the buyer's tax obligations in terms of Value Added Tax or Property Transfer Tax are, as well as who will be responsible for paying the agent's commission - This is where the estate agency can intervene.

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What are the advantages of selling property to a foreign client?

In general, foreigners who are interested in buying property within Spain come from countries where the per capita income is higher than the national average and whose purchasing power is also higher. This means they are more likely to pay higher amounts than those interested in the local market if the property really suits them either as an investment or as a main residence.

You should also know that signing the agreement must be made before a notary in Spain and that the documents must be written in Spanish, although it is true that the buyer has the right to have such documents translated into their own language and have a translator present at the time of signing the agreement. Similarly, this type of buyer usually pays cash for the purchase of the property as they very rarely resort to a mortgage. This gives the buyer an added advantage of making a lower offer on the property as the buying process will take less time. 

To sum up, when it comes to selling your home, exploring the international market in search of foreign buyers is always a good alternative. Of course, having a specialist adviser and an estate agent will guarantee to help you succeed in the task you want to carry out.

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