Update on who pays Agency fees when buying a house, please! - General property discussion in Lo Pagan - Lo Pagan forum - Costa Cálida forum in the Murcia province of Spain
ASSSA Insurance
Jennifer Cunningham Insurances SL

Join the Lo Pagan forum

Join the Lo Pagan forumMy name's Alex and this is my website all about Lo Pagan in Spain. Register now for free to talk about General property discussion in Lo Pagan and much more!

Update on who pays Agency fees when buying a house, please!

Posted: Sat Oct 23, 2021 9:53am
24 replies799 views8 members subscribed
Micaela

Micaela

Helpful member

Posts: 221

125 helpful points

Joined: 9 Jul 2016

Hi all: Please, I’ve  read most everything r/t this topic in this forum but most info  dates back to 2018, if not mistaking. I have also researched online. 
Question: As of today, who pays Agent’s fees when purchasing a home in Spain at large. This Agent insists on charging us, the buyers, 3% above everything else. Haven’t signed anything with the Agency. BIG THANK YOU.

Michelle72

Posted: Sat Oct 23, 2021 11:52am

Posts: 5

1 helpful points

Location: Mar De Cristal

Joined: 16 Mar 2021

Posted: Sat Oct 23, 2021 11:52am

Hi, we have just purchased a new build and did not pay agency fees nor would have expected to.  I do not know if what the case is with resale properties though as the agencies do not get as much for these as new build.  Maybe refer to a place in the sun literature as they tend to set out what is 'normal'.

PeterC

Posted: Sat Oct 23, 2021 1:27pm

PeterC

Super helpful member

Posts: 2048

1290 helpful points

Location: Los Alcázares

Joined: 10 Nov 2016

Posted: Sat Oct 23, 2021 1:27pm

The norm is that the vendors pay estate agent's fees (horrendous here at 5%+IVA!). All other taxes etc are normally paid by the buyer. I would change agent, promptly!

Mags44

Posted: Sun Oct 24, 2021 2:29am

Mags44

Very helpful member

Posts: 739

619 helpful points

Joined: 1 Sep 2019

Posted: Sun Oct 24, 2021 2:29am

Micaela wrote on Sat Oct 23, 2021 9:53am:

Hi all: Please, I’ve  read most everything r/t this topic in this forum but most info  dates back to 2018, if not mistaking. I have also researched online. 
Question: As of today, who pays Agent’s fees when purchasing a home in Spain at large. This Agent insists on charging ...

...us, the buyers, 3% above everything else. Haven’t signed anything with the Agency. BIG THANK YOU.

It's definitely the vendors who pay the commission. They are the ones who have contracted the agent to sell their property and you as buyers can buy the property off whichever agent you prefer, although it is only good manners to use the agent who originally showed it to you. If this agent is trying to extort money from you, then see if the property is also on the books of another agent. It sounds to me like the vendor has been persuaded to reduce the price of the property in order to get the sale by getting the agent to reduce his commission from the usual 5% to 2% or 3% and the agent is trying to make up his commission by getting you to pay the difference. As you haven't signed a contract with the vendor's agent, you don't have to pay him anything! The usual purchase fees will be charged at the moment of sale at the Notary and the monies for this should be held by your solicitor, as should any holding deposit for the property purchase, that may have been agreed. Never pay the agent anything at all and don't use that agent's recommended solicitor either - he sounds pretty dodgy! As Peter C says above, the buyer pays all the purchase fees but the vendor pays the plus valía, which can't be paid before the sale. Your solicitor or the Notary should retain a certain amount from the monies that you pay for the property, to cover any outstanding bills and the plus valía, which is the difference between the value of the land since the property was last sold and its current value. Good luck!

Micaela

Posted: Sun Oct 24, 2021 12:21pm

Micaela

Original Poster

Helpful member

Posts: 221

125 helpful points

Joined: 9 Jul 2016

Posted: Sun Oct 24, 2021 12:21pm

Mags44 wrote on Sun Oct 24, 2021 2:29am:

It's definitely the vendors who pay the commission. They are the ones who have contracted the agent to sell their property and you as buyers can buy the property off whichever agent you prefer, although it is only good manners to use the agent who originally showed it to you. If this agen...

...t is trying to extort money from you, then see if the property is also on the books of another agent. It sounds to me like the vendor has been persuaded to reduce the price of the property in order to get the sale by getting the agent to reduce his commission from the usual 5% to 2% or 3% and the agent is trying to make up his commission by getting you to pay the difference. As you haven't signed a contract with the vendor's agent, you don't have to pay him anything! The usual purchase fees will be charged at the moment of sale at the Notary and the monies for this should be held by your solicitor, as should any holding deposit for the property purchase, that may have been agreed. Never pay the agent anything at all and don't use that agent's recommended solicitor either - he sounds pretty dodgy! As Peter C says above, the buyer pays all the purchase fees but the vendor pays the plus valía, which can't be paid before the sale. Your solicitor or the Notary should retain a certain amount from the monies that you pay for the property, to cover any outstanding bills and the plus valía, which is the difference between the value of the land since the property was last sold and its current value. Good luck!

Music to my ears!! Love the property but love myself  more!! Worked extremely hard for my money!! BIG THANK YOU EVERYONE!!!💜💜💜

Advertisement - posts continue below

Micaela

Posted: Sun Oct 24, 2021 12:26pm

Micaela

Original Poster

Helpful member

Posts: 221

125 helpful points

Joined: 9 Jul 2016

Posted: Sun Oct 24, 2021 12:26pm

Michelle72 wrote on Sat Oct 23, 2021 11:52am:

Hi, we have just purchased a new build and did not pay agency fees nor would have expected to.  I do not know if what the case is with resale properties though as the agencies do not get as much for these as new build.  Maybe refer to a place in the sun literature as they tend to set ou...

...t what is 'normal'.

Thank you so much Michelle!! Hear you loud and clear. This is all I needed to know. Suddenly forgot what the property looks like!

Micaela

Posted: Sun Oct 24, 2021 12:36pm

Micaela

Original Poster

Helpful member

Posts: 221

125 helpful points

Joined: 9 Jul 2016

Posted: Sun Oct 24, 2021 12:36pm

Michelle72 wrote on Sat Oct 23, 2021 11:52am:

Hi, we have just purchased a new build and did not pay agency fees nor would have expected to.  I do not know if what the case is with resale properties though as the agencies do not get as much for these as new build.  Maybe refer to a place in the sun literature as they tend to set ou...

...t what is 'normal'.

Hi Michelle! Thank you so much for replying! Yes it's second hand property. Yes its beautiful and  Yes I can live without it after reading all ya'll replies! THANK YOU.

YvonneF

Posted: Sun Oct 24, 2021 12:45pm

Posts: 15

5 helpful points

Location: Los Alcázares

Joined: 23 Sep 2021

Posted: Sun Oct 24, 2021 12:45pm

I'm looking at properties to buy in the area too, and have noticed one estate agency that charges both buyers and sellers. I won't be looking at any properties marketed by them!

paulsav

Posted: Mon Oct 25, 2021 1:22pm

paulsav

Helpful member

Posts: 519

391 helpful points

Location: Yecla

Joined: 4 Dec 2015

Posted: Mon Oct 25, 2021 1:22pm

Micaela wrote on Sun Oct 24, 2021 12:36pm:

Hi Michelle! Thank you so much for replying! Yes it's second hand property. Yes its beautiful and  Yes I can live without it after reading all ya'll replies! THANK YOU.

Please don't dismiss the property if you like it that much, either ask the vendor if it's listed elsewhere (after researching yourself and not finding it advertised through another agent) or refuse to pay the agents fee as you have researched and found out it is not a fee you should be paying. If the vendor is desperate for the sale they may take the agent to task or reduce their accepting price to pay the agent. Welcome to Spain, this won't be the last bit of scamming or corruption you will experience for sure. Enjoy!! 

Regards 

Pauline 

Micaela

Posted: Tue Oct 26, 2021 6:07pm

Micaela

Original Poster

Helpful member

Posts: 221

125 helpful points

Joined: 9 Jul 2016

Posted: Tue Oct 26, 2021 6:07pm

paulsav wrote on Mon Oct 25, 2021 1:22pm:

Please don't dismiss the property if you like it that much, either ask the vendor if it's listed elsewhere (after researching yourself and not finding it advertised through another agent) or refuse to pay the agents fee as you have researched and found out it is not a fee you should be paying. If...

... the vendor is desperate for the sale they may take the agent to task or reduce their accepting price to pay the agent. Welcome to Spain, this won't be the last bit of scamming or corruption you will experience for sure. Enjoy!! 

Regards 

Pauline 

"Welcome to Spain, this won't be the last bit of scamming or corruption you will experience for sure"

Precisely! Thank you Pauline!

Sign up for free or login to reply to this topic

Want to reply to this topic? Login or register for free to post your message:

Find more General property discussion topics from a particular area:


Register for free!

Login to your account

ASSSA Insurance
Jennifer Cunningham Insurances SL
Advertise your business here
Advertise your property
Help with my computer