Estate agent fees

Estate agent fees are commonly 3% - 5% of the sale price - much higher than the UK.

Solicitors fees will be around €1,000.

You should also be aware that in most cases 3% of the sale price is held until you have proved that all debts associated with the property have been settled.

You can negotiate separate payments for specific fixtures & fittings, but, as in the UK, this can not be disproportionate and seen as avoiding the sales fees or the purchaser reducing their property purchase tax.

Hope this helps!

Often there is IVA to add to the pain.

Take a look at 5 Real Estate, the guys are Scottish and following a recently adopted principle of a fixed fee cost to sell.

We see quite a few properties with their signage so it`s definitely catching on.

https://5real-estate.com/

Do it yourself!

We had our property with 3 estate agents who wanted between €1.5k and €7k, plus IVA.

We listed it on Idealista, just like the agents do, and did a far better job. Sold it ourselves and we’re able to pass on some of the agents fee to the buyers, plus retain some for ourselves. Everyone is happy 😃

Don't pay more than 4% (plus IVA of course), and make them work for it! You don't need a solicitor when you sell, and don't forget the retention (3%) for CGT.

If you live in the property you might want to advertise and sell it yourself, but if it's a holiday home, you'll need an agent to handle veiwings etc.

Yes, selling furniture etc for cash is still a good way to reduce everything. Good luck.

NickB,

Just wondering how did you manage the contracts and other paper work involved in the sale. Also the Notaria. Were you able to do this yourself?

No, I’m not suggesting that you don’t use a solicitor, who will arrange the notary. This is usually a cheap part of the process and one of the most important. Just don’t use a estate agent, as they are in the main vastly over priced and don’t do a lot for their money. 

Ok, thanks for clarifying that. Any idea how much a solicitor might charge?

We’ve sold 2 Spanish houses and been charged c€1k each time.