Property sale - costs involved?

Started by TamaraEnLaPlaya, March 22, 2016, 22:49:55 PM

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TamaraEnLaPlaya

A friend in the UK is thinking of selling their property here.

Q1. He has contacted 3 different estate agents in Fuerte and they are all quoting about 5% of sale price as their fee. Is this standard here or is it worth contacting some more to get their rates?
Q2. What other costs might be involved? I seem to remember seeing a post about 3% being retained against something or other but can't remember what. Also, ballpark figure for lawyer's work?

Any help or advice gratefully received. There seems to be quite a bit of advice on here for those looking to buy but not a lot when it comes to selling.

decho

Here's an interesting article which explains it all i think.
http://legal4spain.com/costs-of-selling-a-spanish-property/

Have they thought about doing it themselves say through Fuertebay etc. and also Rightmove who have a big selection of houses in Fuerteventura. I think the market seems quite good at the moment so it might be worth a shot.

luciapaul

if you looking for an apartment and you can find one by asking around in the area you like you can often find ones that are not even on with an agent, so if you agree on a price you will cut out the agent fee... after that you can more or less say all the other fees come to about 10% of the sale price, eg. solicitor, notary, and tax... we came over and stayed at a in Costa Antugia complex for a week, we looked around all over the place, and in the end bought the apartment 2 doors from where we were staying, that was not advertised, and was told about it by others in the complex

SheilaW

I haven't sold yet, only bought. But everything about the buying process was nearly identical to France, and there are very few fees for sellers there. Notary and lawyer need to be paid but not much (no searches etc). There's the energy certificate to get. Of course, there may be capital gains tax but that depends.

One thing I do know: unless I was desperate for a quick sale, I wouldn't pay an agency unless I failed to sell privately. It's simply a waste of money.