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There is no law governing this, only “normal practice”. A bit like when you sell a car you can say transfer costs are to be paid by the buyer, or covered by you as vendor.
Update on who pays Agency fees when buying a house, please! - Page 3
Posted: Fri Oct 29, 2021 12:34am
Super helpful member
Posted: Sat Oct 30, 2021 2:41pm
Helpful member
Zaza1963 wrote on Thu Oct 28, 2021 12:15pm:
We just bought a property in Andalucia. It took 9 months to complete due to delays caused by the agent. Most agents are not agents but FINDERS!! If you want a real estate agent, you have to deal with a Spanish speaking property agency.
The agent/finder we used asked a €3000 deposit for taking the house out of the market. The €3000 were deducted from the total balance owed to the vendor during signature at the notary. In hindsight, we should have used the solicitor immediately and put the amount in escrow. The reason why you...
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... must not pay anything to a finder is that in case, things go sour, you are likely to loose the deposit unless there is a clause in the reservation contract stating "subject to mortgage approval or survey if you decide to do a survey".
For us, things turned out positively in the end but the morale is: never give a penny to an agent until you have the official sales contract or mortgage approval.
Amazing!! Thank you everyone. Hubby and I have been reading and hopefully learning! THANK YOU TO THIS FORUM !
Posted: Fri Nov 5, 2021 11:07am
Helpful member
Coopersmum wrote on Wed Oct 27, 2021 1:27pm:
I’ve read the postings regarding agent commission fees and found it really interesting. I recently purchased a property and during the process gave power of attorney to my solicitor. I had absolutely no idea that as a buyer I would be paying commission to the agent who I purchased t...
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...hrough. Only after the completion and upon checking my (Spanish) bank statement did I see that the solicitor made three payments equivalent to the purchase price + taxes. The three payments from my account were to the vendor, to the solicitor (fees and taxes) and a large payment of approximately 5% was paid to the agents, all payments were made directly from my account. I had no idea that when purchasing the property that agents fees were included in the purchase price so just to make people aware that these fees are paid but can also be hidden within the purchase price.
Wow! Isn't it something!? In Spain they just take money out of your bank account without first sending a bill. We found that out the hard way. We love it here but sure don't want to stir up "The Spanish system" again. This would have been our second home & it was beautiful to the eye but we remembered the stress from the first home & decided not to go through the confusion again for now. Plus the fact the $ value is way too low compared to the €
Thank you all for sharing.
So pleased to hear about the British look on how this goes. I am from the Netherlands and own, have bought 2 houses in Murcia region. Have never paid a commission to the agent. Though many dutch buyers, dutch who live in Spain say it is "normal in Spain to pay". I strongly disagree. Have visited 40+ houses and in about 4 times was given a "contract" while or after viewing the house for 3 or 5% of sales price. Obviously to say I never signed, have argued with the sales agents in front of the door just to make a point. They also try to let you sign for their boss so he knows you have visited... And contract with percentage is at the back stapled on...
Posted: Tue Jan 4, 2022 9:49am
Helpful member
meluk wrote on Wed Oct 27, 2021 2:23pm:
The purchase price I had agreed included the agent's cost which I did not realise until my solicitor did a breakdown of all the costs. This transaction was carried out remotely with power of attorney granted to the solicitor. Very similar situation to that mentioned ...
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...by Cooopersmum.
Absolute last resort to give a solicitor in Spain, Power of Attorney!
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