Selling a Gran Canaria property while international travel is shut down is not as difficult as many expect. Almost everything can now be done either online and with legally-valid digital documents.
For more info on the impact of Coronavirus on the Gran Canaria property market, see my detailed guide.
Gran Canaria property paperwork can be ordered online
The Gran Canaria property registry now provides up-to-date electronic documentation about a property within 24 hours. The cost is a few euros and the Nota Simple Informativo is the document required to sell a property.
Selling Gran Canaria property: Viewings and Negotiations
Nothing compares with a physical visit and almost all buyers want to see a property before they buy. However, video tours and even live online viewings help buyers to narrow down their choice of property.
As for price negotiations, most go through the buyers and seller’s estate agents and can be coordinated via email or phone calls.
Contracts can be signed digitally
The contract between a property owner and their chosen selling agent is largely based on trust and understanding between client and agent. It can be signed via email or with a digital signature.
Once a buyer makes an offer, the Arras contract that defines the terms of the reservation and deposit can now be signed digitally in a legally binding way. Good estate agencies in Spain and Gran Canaria offer this service as standard.
Selling Gran Canaria property: At the notary
A seller can give their lawyer or any trusted party a power of attorney to represent them on signing day at the notary in Spain. This has to be signed, witnessed and approved by a notary or Spanish consulate or embassy in your home country and sent to Gran Canaria well in advance.
Your estate agent can represent you if there is no mortgage involved in the sale process. However, Spanish banks require an independent party to represent the buyer or seller and this is always advisable.
It is also important to make sure that the terms of any document signed only cover the procedures required for a property sale.
Property sale taxes and fees
Spain withholds 3% of the total of a property sale by a non-resident owner in lieu of any taxes due. The process of recovering any excess and of handling your Spanish tax declaration can be handled by a lawyer or your gestoria.
If you sell an inherited property in Gran Canaria as a non-resident, the property must be registered in your name before the sale.
If you plan to sell a Gran Canaria property, I hope this guide is useful. Please feel free to contact me if you need any more information.