Estate Agents Costs - Page 3

Hi Philip59. Many thanks for that information very insightful  enjoy your home/holiday home .

Thanks Norma

Add 12% to the cost of your property, this will cover all your costs. As PeterC has said costs are pretty much the same throughout Spain and depends on the cost of the property. 

One cost that certainly is not the same is the IBI - the "council rates". We pay nearly twice as much for a townhouse here in Los Alcazares as we did for a 200+m2 villa with pool and land in Comares, Malaga province. Water and power are also dearer.

Although, I expect far less than council tax in the UK.

We pay £3,500pa in council tax at home (near Glasgow) and <400 euros pa in IBI for a large villa, with pool and 5 acres of land in the countryside north of Lorca.

I did not pay estate agents fees on buying my villa, vendor had to pay them, all I paid was the soliciting and other legal requirements charges.

Hello jtb  interesting reply regarding fees could you enlighten me please, how (good for you) did you manage not to pay estate agent fees, or was it that they were somehow incorporated into the price of your villa? 

Norma 

Read it again Norma - the seller of the house pays the estate agents' fees, not the buyer. There are of course legal fees and so on that the purchaser has to pay, which is where the guesstimate of 12-15% comes from.. When pricing a house to sell you should take agents fees into account, but a house is worth what someone will pay for it - there is no "recommended retail price" and no Zoopla here to tell you what any house has sold for.

Thank you PeterC for pointing out my genuine mistake at not reading the post correctly. 

Hi I can share my point of view. In terms of cost - mortgage I don't know we bought with cash. No agents fee.notary around €1000, land registry around €500. Stamp duty - 8% but even then you can spread the cost over 2 years with small interest. Can be arranged in Ayuntomiento. I strongly advise not to use solicitor as there could be many problems with them. So we used a friend who could speak spanish. He went with us to Cartagena to obtain NI. It's very easy and no need to pay hundreds or thousands.you cone stupidly early join the queue and when they open first xxx people.can be seen. You get NIE paper the same day. There is nothing more to it. You just need someone who speaks spanish. Bank account - there is a gentleman called Simon in Santander. He speaks English. Rules may change now and maybe more diffi it to open I don't know. Transferwise now offering gbp and eur bank accounts that can even handle direct debits and can easily transfer money between them. 

My house was unoccupied for over 5 years. So had to provide certificate of Habitation to connect water supply. Had no problem with getting it. If you know anyone who speaks spaniah do not waste your money on solicitors fees. Very often I hear they can't even open a bank account. Electricity - iberdrola. They speak English. Internet - speak English. We are very pleased with our purchase. Do not all of this hassle put you off. It's very rewarding at the end. When I was sorting this out I had 9 months old baby. It was stressful but totally worth it. Good luck.