A home does not always belong to a single person. An inheritance, a purchase made as a couple, or a jointly acquired property can result in a home having two or more owners. When the time comes to put it up for sale, it is important to have a clear understanding of the property’s status before starting the process.
At Finques Jordi Tané, a real estate agency in Palafrugell, we guide property owners in the Baix Empordà region through the entire sales process, helping them properly prepare for the transaction and gather the necessary documentation.
All owners must agree to the sale
One of the first things to verify is who is listed as the property owner and in what proportion.
To sell a co-owned property in its entirety, the consent of all titleholders is required. Therefore, before listing the property, it is advisable for the owners to discuss key aspects such as the decision to sell, the asking price, and the terms they are willing to accept.
Reaching these agreements beforehand can prevent problems when an interested buyer appears.
Reviewing property ownership and documentation
Before putting a property on the market, we recommend verifying that the registry information matches the property’s actual status.
When there are multiple owners, it is also important to know the percentage share held by each one.
This can be particularly relevant for inherited properties, which may have required various prior legal procedures.
Preparing the documentation in advance allows for the identification of potential outstanding issues before the sale process is too far along.
What happens if the property is inherited?
It is common for a property to become jointly owned by several siblings or other family members following an inheritance.
If a decision is subsequently made to sell the property, it must first be verified that all procedures related to the inheritance and property ownership have been correctly completed.
Furthermore, it is advisable for all owners to agree on a shared sales strategy. Designating a single point of contact for specific tasks from the outset can also facilitate communication when there are multiple owners.
What if one of the owners does not want to sell?
This situation requires a different approach. A co-owner cannot unilaterally decide to sell an entire property that is also owned by others.
When there is no agreement, various alternatives may exist depending on the circumstances, but it is advisable to seek specific advice before making any decisions.
For this reason, if there are disagreements among owners, we recommend addressing them before putting the property on the market through conventional channels.
Setting the right selling price
Another point that can lead to differences of opinion among co-owners is the price.
Obtaining a professional valuation helps establish a benchmark based on the property’s features, condition, location, and the state of the real estate market.
This is particularly useful when each owner has a different perception of the property’s value.
Real estate agency in Palafrugell to sell your property
At Finques Jordi Tané, we know the real estate market in Palafrugell and Baix Empordà, and we guide our clients through the various stages of the sale.
If you own a property jointly with others and are considering selling it, our real estate agency in Palafrugell can help you prepare the property, review the sales process, and coordinate the necessary steps right up to finalizing the sale.
When there are multiple owners, good organization from the start can make the entire process much smoother for both owners and buyers.
