Estate agents
 

Hi I have just come back from viewing properties around Valencia, whilst driving along the agent just dropped in that we would be charged 3% + vat if we bought anything. This was a bit of a bombshell to us. Is it normal or should we avoid this particular agent. Thanks

Re: Estate agents
 

It is becoming more normal but I would drop him and use someone else.

I guess it all depends if he is the only English speaking agent and you don't speak Spanish.

Re: Estate agents
 

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Re: Estate agents
 

I have purchased two properties in Spain, the last in 2014 and have never been charged a buyers fee.

If you do make an offer on a property you should make it clear to the seller that you have reduced your offer price by a further 3% to account for the buyers fee. It may be the sellers are unaware of this proposed charge and the Estate Agent is taking advantage, against the best interests of his Client who is probably paying him a further 6% to sell the property.

Re: Estate agents
 

Was he quoting the amount that is retained until you prove you are resident in Spain?

Re: Estate agents
 

No, agents are charging the buyer 3% plus IVA in some places now - just started here (inland).

Re: Estate agents
 

Hi, are you sure that this 3% isn't the reservation deposit? This is usually taken off the purchase price when you complete or kept by the agent/vendor if you walk away. IMPORTANT....Do be sure to use your own solicitor to draw up the sales contract and do not sign anything with the agent until checked/amended by your solicitor. If you sign the agents' contract it may not be in your best interests.

Re: Estate agents
 

Wow Snikpoh,that is terrible.Was that very recently?I sold a property 2 years ago & that fee was not levied as I know the buyer would have said to me.But I live in a coastal area.I would have thought too that for inland property sales that would negate the idea that you can get a bargain away from the sea.

Re: Estate agents
 

Suspiciously, when the seller is a *nonresident*, the *buyer* is obliged to pay >3%< of the sale price to hacienda to account for any applicable capital gains taxes potentially owed by the seller. This is deducted from the total sale price, you pay the seller 3% less as a result. The seller can get this back if they prove they don't have a capital gains liability. But that's not the buyers' problem.

I don't know if this is what's in play here, but the numbers coincide...