Re: charges

#61403

Anonymous
Participant

Hello Tim

Agencies fees on the Costa del Sol for a re-sale property tend to be between 5 and 7.5% and for an off-plan property from 3 – 10% depending on the developer. You will not find 30% commissions here.

It is only the vendor that pays this unless you go further along the coast towards the Costa de La Luz where you may find a 5% agency fee being split between buyer and seller.

Some developers will give you a flat “No” if you try to negotiate a discount on an off-plan property, others can be quite amenable or might let you re-negotiate payment terms for example. If your estate agent (if you choose to use one) has a good working relationship with the developer and has sold multiple units in the same urbanisation then your potential negotiating power with the developer will improve.

If you make an offer on a re-sale then, depending on how kicktheminthearse your offer is, the fees may end up being discounted in order to help the sale proceed. All depends on the offer and the property tho so beware going in at an automatic 25% discount to the asking price cos that’s what the Bank of Spain is saying!

Re: overvaluation of properties by 25%+. To be honest I can only say that in my humble opinion this cannot be the case in every region in Spain and for every property. There is certainly an over-supply here in some areas of 2 bed 2 bath apartments which were over-priced to begin with, which no-one wants to rent as they’re located in the arse end of nowhere and with no local amenities. Other properties still have buyers fighting over them.

Here’s how I suggest you tiptoe carefully and clearly thru the minefield:
1) Take your time to work out which area you really like first;
2) Then see a variety of properties in your approximate price range both privately & with an agent;
3) Having seen a selection of homes then decide on which type of property is going to suit your needs (apartment, penthouse, garden, village house, etc.)
4) Next decide with your partner on how much you are comfortable with spending when taking into account the true amount needed to complete the sale including costs.
5) Then look again at your shortlisted properties + some more.
6) So, you think you might have found something special?…appoint a lawyer from Mark’s selected list on the website and get them to double check the details. They will almost certainly not charge you for initial consultations and will be able to warn you if you’ve chosen a dog.

Common sense will always pay dividends.

(NB. Before some posters start having a go, this post relates solely to Costa del Sol. I do accept that it may be a different picture in other parts of Spain. Taeverso).