If you are considering selling your Marrakech property Chic Marrakech would be delighted to help.
Over the past decade Chic Marrakech has established an enviable reputation of professionalism, expertise and care client when it comes to selling real estate.
Chic Marrakech boast an impressive turnaround of sales – second to none in fact – and we are happy to offer you all our experience and expertise and the best possible advice about selling efficiently and effectively.
If you are interesting in selling then do please get in touch.
We will provide an immediate and accurate valuation.
We are a dynamic agency – with our finger truly on the pulse, and in the best position to gauge how much your property can, or should, sell for in the current market.
An established expertise in marketing properties to the major markets
Chic Marrakech have always taken great care in presenting the finest and most distinctive riads and luxury Marrakech property to its clients, and we are now firmly renowned for the quality of our real estate listings.
The riads – and now villas too – that we present are all beautiful, unique and distinctive – and each of them are individually hand picked, and stand out in the competitive property market.
We believe in marketing our clients’ homes beautifully – and here this is one of the key areas that differentiate us from our competitors.
The distinctive online presentations of our houses are second to none.
Each property is professionally photographed and described in lengthy and well considered descriptions in English – rather than with the standard estate agent jargon. This really helps bring the houses to life, which buyers genuinely appreciate.
It also crucially focuses in on the English and English speaking buying market that now dominates Marrakech;- from the Spanish and Dutch and English say – through to the Scandinavians and Germans.
Coupled with this is our dynamic marketing strategy. We have diligently established strong media connections and over the years have appeared in numerous newspapers and magazines – even in Easyjet inflight magazine – featured in several world wide TV programmes.
Essential information for selling Marrakech property
In respect of selling real estate in Marrakech – a seller is responsible for two things.
Firstly the tax element of the sale – and secondly 2.5 % plus TVA fees for the agence Immobilier.
In respect of the tax – this is simply 3% tax to pay of the price – if there is no capital gain.
The tax administration offer 15% free on the top of the original purchase price in Morocco – that covers the legal costs as well as the fees of the agence Immobilier from when the property was originally purchased.
Therefore the original house price plus 15% is only subject to 3% tax and not CGT.
In addition the cost of building work with legitimate TVA receipts can be added on top of this and would not be subject to CGT.
Lastly, the value of furniture in a property being sold can be excluded from tax – and sellers often look to add an exaggerated inventory into a sales contract to help lower their CGT.
In respect of CGT – this tax is charged at 20% of the gain. It is worth noting that there is an exoneration from CGT on ones’ main home if it has been occupied for eight years or more.
Payments and repatriation
Nowadays most sellers prefer to receive the money from a seller directly and legitimately overseas.
This is permitted under article Article 768 of the Offices Des Changes in Rabat – who are the administrative body who deal with investment in Morocco from foreigners – and who allow money invested here in property transactions to be repatriated.
This allows the proceeds of a sale to be paid directly overseas.
However a percentage of the money will be required to be paid here ( perhaps 10/20 % ) to cover the tax element of a sale and any additional costs such as unpaid bills or habitation tax.
Sellers often choose to receive their money overseas firstly as it saves a lot of fiddling around and secondly because often if one is paid here – it takes four years to repatriate all your money and the administration sometimes only allow one to take out 25% per year – which isn’t ideal.