Talk Quesada forum

Posted: **Sat Sep 15, 2018 2:28 pm**

polop wrote:When you buy in Spain you have on top of property price IVA and fees, notary etc nothing to do with agents, commission is paid by seller not buyer, I think some people get confused,

Yes there's no way anyone should be asked to pay commission to an Estate Agent when buying - like in the UK it's the sellers responsibility to pay the commission not the buyer.

Posted: **Sat Sep 15, 2018 3:23 pm**

Jan wrote:
polop wrote:When you buy in Spain you have on top of property price IVA and fees, notary etc nothing to do with agents, commission is paid by seller not buyer, I think some people get confused,

Yes there's no way anyone should be asked to pay commission to an Estate Agent when buying - like in the UK it's the sellers responsibility to pay the commission not the buyer.

My thoughts exactly

Posted: **Sun Sep 16, 2018 9:52 am**

TimT wrote:
GLASSMAN wrote:and boy ho! boy do! they charge a commission,buying and selling.buyer beware.

I’ve asked for a rough idea of costs, I was quoted about 13%, made up of 10% government tax, and approximately 3% for conveyance fees, nothing about a buyers commission, and that’s something I certainly wouldn’t pay.!!

When estate agents or solicitors quote you a percentage such as 13 % to buy a property, that is where they make a commission on you purchasing a property. The only cost that should be a percentage is the tax. All other costs should be fixed prices which you should ask for before you commit. There are unscrupulous estate agents and solicitors in this area who will rip you off if you let them.
I mention estate agents because there is at least one in Quesada who will offer to do the conveyancing for you for a percentage.
Some of them will ask for the 13% in advance of the purchase which is not necessary.
They rely on the fact that expats coming to Spain do not know the procedures and therefore can be conned.

Posted: **Sun Sep 16, 2018 10:16 am**

I think the 13% quoted is just to give a rough idea of how much you need to allow on top of the purchase price. We paid 10% tax, and the rest in fixed fees (no commission as that was paid by the vendor), the total cost worked out to about 13% above purchase price which was what we had estimated.

Posted: **Sun Sep 16, 2018 10:19 am**

Thanks

Posted: **Sun Sep 16, 2018 10:20 am**

Notary fees
(between 600-1000 euros)
Property registry costs
(400-650 euros)
Gestoría costs
(between 250-500 euros)
Property Transfer Tax
(between 4%-11%)
Property valuation costs
(only if a bank mortgage is needed normally around 800 euros)
For newly built properties
IVA or VAT
(10%)
IAJD
(between 0.5%-1.5%) these are buyer's costs

Posted: **Sun Sep 16, 2018 10:29 am**

polop wrote:Notary fees
(between 600-1000 euros)
Property registry costs
(400-650 euros)
Gestoría costs
(between 250-500 euros)
Property Transfer Tax
(between 4%-11%)
Property valuation costs
(only if a bank mortgage is needed normally around 800 euros)
For newly built properties
IVA or VAT
(10%)
IAJD
(between 0.5%-1.5%) these are buyer's costs

That's brilliant, many thanks for the comprehensive breakdown!

Regards Tim

Posted: **Sun Sep 16, 2018 10:37 am**

Here are sellers costs!!!
Agency commission
(between 3%-6%)
Capital gains tax
(variable 19%,21%,23% for 2018)
Income Tax Provision (Retención)
(3% non-residents only)
Energy certificate
(between 100-500 euros)
Plusvalía

Posted: **Sun Sep 16, 2018 11:46 am**

JohnES wrote:
TimT wrote:
GLASSMAN wrote:and boy ho! boy do! they charge a commission,buying and selling.buyer beware.

I’ve asked for a rough idea of costs, I was quoted about 13%, made up of 10% government tax, and approximately 3% for conveyance fees, nothing about a buyers commission, and that’s something I certainly wouldn’t pay.!!

When estate agents or solicitors quote you a percentage such as 13 % to buy a property, that is where they make a commission on you purchasing a property. The only cost that should be a percentage is the tax. All other costs should be fixed prices which you should ask for before you commit. There are unscrupulous estate agents and solicitors in this area who will rip you off if you let them.
I mention estate agents because there is at least one in Quesada who will offer to do the conveyancing for you for a percentage.
Some of them will ask for the 13% in advance of the purchase which is not necessary.
They rely on the fact that expats coming to Spain do not know the procedures and therefore can be conned.

Posted: **Sun Sep 16, 2018 2:23 pm**

My advice is to not use their so called all-in-house service of solicitor and sales all in one, as the saying goes don’t put yr eggs all in one basket. Use a lawyer, not a solicitor, lawyers are certified to be able to get their title, whereas anyone af some sort of public standing can call themselves a solicitor, the latter can be much less likely to follow all the rules. Lawyers cost the same so why take chances. Check gov.uk website for a list of English speaking lawyers, it may not be bullet proof but I would like to think that if they have made the shortlist there, they may be legitimate. Final bit of advice, no matter how much they ask you for a deposit there and then in the agents shop, make it clear ALL payments will be made through your lawyer, that way you have a legal paper trail and your money is pretty safe. That said, you need a lawyer on board before you even start looking. I emailed a few to ask for their full conveyancy prices, and picked one before we set off in search of our property. Good luck

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