20 reasons to choose Real Invest GC to sell your property
- We have more than 10 years of experience in the real estate industry in Gran Canaria.
- We have an excellent reputation. Check our references here.
- The CEO has legal education from Norway with a special focus on international contract law.
- We keep abreast of the norms and regulations and actively attend courses in order to help our customers to achieve fast and trouble-free sales.
- Over 95% of our ready-to-buy customers already have the finances ready.
- We specialize in the international market where most of our customers are Scandinavians, but we will publish your property in the important European channels and have customers from all over the continent.
- Our well-visited website is in 4 languages ??and our agents are multilingual, so most people can communicate with us in their native language.
- Through years of experience and try-outs we have filtered out the marketing channels that are not working and we invest significant sums of money to publish your property in channels that actually produce results.
- We are a member of the Canary Islands' largest real estate organization "ACEGI" where more than 100 real estate agencies can offer your property for sale through us at no extra cost. You will be in contact with us and we will be in contact with them.
- We spend extra time, energy, focus and resources on you as a client to sell your property in the best possible way. We offer digital options, for example 3 dimensional virtual tours/videos, plan documents and 360° photos.
- The real estate fee include our operating expenses and agreed marketing costs.
- We work after the "no cure, no pay" principle. That is, if we cannot sell your property, we will not get paid.
- We are known to ALWAYS respond to inquiries and to respond promptly. We will keep you updated in every step of the sales process.
- We have a very visible and well-visited office in a central location in the Ancora Centre, Arguineguín, so that both buyers and sellers have a base to come to if they want to meet us in person.
- We have a team of agents who have lived on the island for more than a decade and therefore have exceptional local and market knowledge.
- We are known for being competent, helpful and sociable, with high ethical and moral standards.
- We will give you advise on how to prepare your property for photos and viewings. With great photo skills and detailed ads, we will make your property stand out in the market. More and more of our clients buy properties without seeing them "live". We will of course give you a follow-up throughout the sales whole process. With us, the customer is always in focus.
- We are result-oriented and want YOU to sell your property in the best way possible so that you can recommend us to friends and acquaintances. We want you to be completely satisfied.
- We are a well-known name in the market, and we were specifically highlighted in the public meeting between the Norwegian and Canary Chamber of Commerce as an example of foreign investment. We have also participated in several TV programs, such as "Sold" at NRK in Norway and the English "A place in the sun".
- No project is too small for us and no project is too big. We were chosen by the Norwegian bank "Bank 1 Oslo Akershus" and the Spanish bank "“Banco Popular" as the sole real estate agent to sell the well-known project "Monte Carrera" of 131 housing units in Arguineguín when the project was completed.
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THE COSTS OF SELLING YOUR PROPERTY IN GRAN CANARIA
The vendor must pay all kinds of property costs and liabilities up to the date of the transferral of the title deed; that is community fees, council taxes, water, electricity etc.
If there is any mortgage on the property, the seller must contact the bank to get information about outstanding debts. He will then receive a certificate from the bank with his total debts and eventual costs to cancel the mortgage latest at the signature of the public deed.
The vendor is required by law to pay the “plusvalía” to the town hall; - tax on the increase of the property value, which is triggered by a change of ownership. The longer the ownership, the higher the tax amount.
The seller is obliged to pay the real estate fee agreed in the sales order, no later than on the signing date of the public deed.
The vendor must also pay capital gain tax to Spain. When the property is sold by a non-resident, one must withhold 3% of the sales price (not the gain) and pay it to the Spanish tax authorities as an advanced payment of capital gain tax.
For residents, who can present a certificate from the tax authorities – stating that they are tax residents of Gran Canaria, there is no need for retention. Tax residents are normally located on the island, and therefore the risk of attempting to escape their tax obligations is considered low.
FOR THOSE WHO ARE NOT TAX RESIDENTS IN GRAN CANARIA
The capital gain tax rate for non-residents is approximately 19% and is applied to the following result: Sales price in the title deed minus DOCUMENTED selling costs minus the deed price when the seller bought the property minus DOCUMENTED purchase costs at that time. It is rare to receive a tax deduction for renovation costs, but we recommend you to contact your tax advisor to see which kinds of tax benefits you may be entitled to.
If the 3% withheld at the signing of the deed equals a higher amount than the seller ultimately has to pay in capital gain tax, he can apply to get the excess amount returned from the tax office. (However, counterclaims can be made for previously unpaid tax debts.) If the final capital gain tax is found to be higher than the withheld amount, he is liable to pay the difference.
The tax rate is 19% for residents of the EU, Norway, Iceland and up until now England. Others have a tax rate of 24% and no cost deduction.
The non-resident seller is required to declare the sale and pay capital gains tax, if applicable, through his tax advisor in Spain, within 4 months after having signed the public deed.
All non-residents are required to inform themselves about tax obligations in their home country.
TAX RESIDENTS IN GRAN CANARIA
A tax resident in Gran Canaria will have to pay his income tax according to the same principles, however, the percentages are progressive depending on the size of the gain: 19%, 21% or 23%. There are exceptions depending on the age of the seller and if he´s going to reinvest etc. Always consult a Spanish tax advisor.
Tax residents are required to declare the sale and pay capital gain tax, if applicable, in their yearly tax declaration the year after the sale.
If a Spanish company owns the property to be sold, the Spanish tax advisor of this company can inform about the tax situation as other norms and percentages apply.
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