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From the moment you consider putting a property up for sale until it is signed with a notary, a considerable amount of time can pass.
Although there is an average period determined by statistics for how long it takes to sell a flat or house in Spain, all the factors that can make this time longer or shorter must also be considered.
Factors that influence the time it takes to sell a house
The main factors that will influence the time it takes for a flat or house to be sold are location, price and condition.
The state of conservation
The condition of the property affects the price and the time it takes to sell it.
It’s best to make the necessary arrangements before putting the house up for sale, achieving a better selling price in a shorter period of time.
Location of the house
Perhaps, this is one of the most important and decisive factors.
Listing a property for sale in a large city like Madrid or Barcelona, where there is high demand due to the large population, is different than in small towns or cities, where the demand decreases.
Even in the same city there are specific neighborhoods and areas where a house’s value can increase or decrease.
Negotiation between buyer and seller
Initially, there are usually differences regarding price.
The seller may be unfamiliar with the real estate market and be driven by feelings, but then, usually, lowers the price during the negotiation.
And buyers usually want to spend as little money as possible on the property purchase, so they will always try to lower the price.
Financing
If financial institutions offer flexible and accessible conditions, the sales process will be shorter.
The time of year
Most house sales transactions are concentrated in spring and fall, with real estate transactions peaking from May to September.
September through November are typically the best months because searches have begun in spring and the options have been analyzed during the summer.
What to do to sell a home faster
When you’re in a hurry to sell your property, there are some things you can do to help shorten the sale time.
Carry out an adequate assessment
Setting a price in line with the market is one of the key points when it comes to selling a property quickly.
Improve the image of the property
The recommendation is to highlight the best aspects of the house. To do so you can:
- Paint in neutral colors.
- Remove outdated furniture.
- Remove personal items.
- Fix minor defects.
Take quality pictures
The photos of the property will go directly to the home listing, so they must the best possible quality and make a good impression.
It is recommended to include several pictures of the same room in the listing, as well as accompanying them with videos or virtual tours.
Create attractive ads on portals
To sell a house faster, you need to create attractive ads.
We’ve already seen how important images are, but the property description must also be complete and detailed, describing the property’s features, amenities, surface area, layout, and more.
Have all the documentation ready
The sooner you have the documentation for the sale of the property ready, the less the delay will be in signing the deed.
Be flexible when receiving visitors
The more days and hours there are available for potential buyers to visit, the more time there will be and the easier it will become to find someone interested.
The best thing in this case is to include Saturdays and Sundays to schedule visits.
Negotiate the final sale price
Negotiating the final sale price of a house is more than common.
The owner must have a minimum price and negotiate with the buyer, who will also have a maximum price set.
It is possible to reach a quicker agreement if both parties make concessions.
So, how long does it take to sell a house?
As we have seen, many factors can influence the time it takes to sell a flat or house, such as location or price.
However, the average time to sell a house in Spain is between 3 and 12 months. Selling a home is a complex process that can be shorter or longer depending on the location, price, condition of the property, financing or negotiation between buyer and seller. To reduce the time, you can set a market price, take good photos, publish attractive listings, have all the necessary documentation ready and be flexible with viewings.
Further information
This article is part of our service Real Estate Lawyer in Spain. Visit this section where you will find all the useful information on this topic, including a complete guide on How to buy a house in Spain.
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