Talk Quesada forum

polop wrote:

elchedave wrote:I fully agree with Marcliff & Shiva, we (foolishly??) sold our property for €130k & purchased another for €76k, the total costs involved, agents fee, taxes, notary, legal eagle etc came in at €25k, an astronomical sum by any standard!!!!!!

By any standard that seems over top, normally around 15% would be about right.

You're ignoring the fact he is selling as well. You have to add on the agent's fees, the solicitor's fees, the plus valia, the changing of utilities, the notary fees (two properties, remember).

So, yes, 14 to 15% if you are simply buying. Rather more if you are selling and buying.

marcliff wrote:

polop wrote:

elchedave wrote:I fully agree with Marcliff & Shiva, we (foolishly??) sold our property for €130k & purchased another for €76k, the total costs involved, agents fee, taxes, notary, legal eagle etc came in at €25k, an astronomical sum by any standard!!!!!!

By any standard that seems over top, normally around 15% would be about right.

You're ignoring the fact he is selling as well. You have to add on the agent's fees, the solicitor's fees, the plus valia, the changing of utilities, the notary fees (two properties, remember).

So, yes, 14 to 15% if you are simply buying. Rather more if you are selling and buying.

Sorry thought it was the €76k property only misread it...

So, yes, 14 to 15% if you are simply buying. Rather more if you are selling and buying.[/quote]
Sorry thought it was the €76k property only misread it...[/quote]


polop, no worries, we all misread things sometimes.
Regards,
Dave

Portugal charge 2% up to 126000 then think goes up to 5% 10% is robbery

Very interesting. So if you add 14 to 15% as a first time buyer as I did coming here. What rough % could you expect to add is I was selling and buying?

Ron Hill wrote:Very interesting. So if you add 14 to 15% as a first time buyer as I did coming here. What rough % could you expect to add is I was selling and buying?

It doesn't work quite as reliably in percentages, as obviously you have to define it as a percentage of what? I guess you could look at it as a percentage of the total value of both properties involved but there will be more variability depending on your choices relating to the property being sold, your age, taxes payable on the sold property etc. Suggest it would be wise to budget 10 % . That's 10% on the value of BOTH properties. So on a 220 and 160 property which is 380,000, have 10% ready on top and that's 38000 euros for transactions costs. Quite steep. Just as a VERY rough guide...it will vary though.... But from the experiences on here that would have covered Marcliff's costs, would have covered ours but would have been not enough to cover Elchedave's costs ... Which were more like 12% of the joint property value...

Adey wrote:
I don't understand when people say they paid high agents fees, I've sold about 8 properties over the past 5 years and never pay agents anything, basically around this area an agent will ask you what you want for the property, once that's established they sometimes put on 3k for them selves, plus 3k just in case another agent sells it for them, plus another 3k so they can drop the price if they have to, so if you wanted for instance 90k for your property they will be selling it for 99k

That's a very interesting definition of "not paying Agents anything." In the example you give it is effectively a 10% fee on the sale. If the buyer is willing to pay 99k, and you get 90k of that, the agents are netting 10% of the sale price. You may not physically pay over the 9k but they take it off the sale proceeds so it is really the same thing....