- This topic has 6 replies, 4 voices, and was last updated 18 years, 9 months ago by
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I would definitely recommend having a lawyer. If you have an agent you trust, that’s great, but your agent is also acting on behalf of the other party as well (vendor/buyer). Our agent was fantastic, but they certainly wouldn’t have told us to proceed without a lawyer acting purely for us. Friends of mine found out that the house they were about to buy was a complete legal nightmare once their lawyer had done her searches, and so were saved loads of hassle down the line. They went for somewhere else. Lawyer’s are essential and can take a lot of stress out of the transaction, but make sure you have someone recommended to you and do try to negotiate on fees, as 1% can be extortionate depending on the amount of work involved.
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In our area, the average lawyer’s fee is 1% of the purchase price when it comes to buying a property. When it comes to selling, some lawyers charge a fix fee, as they understand the work in question is very straightforward, as you have said.
However, when you pay 150,000 euros for a property your interests are not the same as if you pay 700,000. Therefore, price is based on the protected interests. Some lawyers, however, are confident that the work never has a price of 7,000 euros (as per the last example), and stop in 2,000 or 3,000 euros in these cases or reduce the percentage to 0.75%, for example.
Anyway, it is always good advice to hire a lawyer. Whan you buy a property, 1% for your peace of mind is not a fortune!
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