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At last some good news - for those wanting to sell their property.

At last some good news - for those wanting to sell their property.

Old Sep 27th 2009, 6:47 pm
  #16  
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Default Re: At last some good news - for those wanting to sell their property.

Originally Posted by Econ
I mean the whole process is out of date, uncontrolled estate agent, notario, lawers fees, transfer tax, stamp tax, registry etc. ..... 5% here, 1% there, 6% here, .5% there etc. just makes the property price change at such a huge percentage when all is happening is a home is changing hands... one of a persons basic rights.:
I think it was only on the Costas and for estate agents aimed at foreigners where estate agent rates were 10-15%. Spanish agents tend to charge 3-5 so more in line with what you'd fine in the UK (when we bought in London I know our seller paid 3.5%).

Like you said, many Spanish people prefer to sell their house by themselves without an agent and advertise it on online sites and newpapers, these are called "particulares". You just need to go to segundamano, idealista or fotocasa to see these.

Oh, and the tax rate is around 7-9% of the sale price. That includes the tax on the transfer of the propery and on the mortgage. Notary fees are on top of that. A rule of thumb is that taxes and notary fees will costs 10% of the property price.

I dont think property tax infringes human rights at all, it is the right of the Spanish government to set them, they just happen to be higher than in the UK.
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Old Sep 27th 2009, 7:04 pm
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Default Re: At last some good news - for those wanting to sell their property.

Originally Posted by cricketman
I think it was only on the Costas and for estate agents aimed at foreigners where estate agent rates were 10-15%. Spanish agents tend to charge 3-5 so more in line with what you'd fine in the UK (when we bought in London I know our seller paid 3.5%).
It was actually the norm in Spain to charge 10 to 15% on a property sale, in fact 15% was generally accepted as the commission on a new sale by an agent even on property sold up to the crash. 3 to 5% is what most agents are being forced to sell at for the moment. I remember my sister telling me 30 years ago about what her boss in a Fuengirola estate agent marked up on property sales, it was a closed shop back then if I remember correctly but that all changed when the government lifted the controls.

Originally Posted by cricketman
Like you said, many Spanish people prefer to sell their house by themselves without an agent and advertise it on online sites and newpapers, these are called "particulares". You just need to go to segundamano, idealista or fotocasa to see these.
Or look for signs on the properties, the first thing you are asked when you call is' eres particular o agencia'.


Originally Posted by cricketman
Oh, and the tax rate is around 7-9% of the sale price. That includes the tax on the transfer of the propery and on the mortgage. Notary fees are on top of that. A rule of thumb is that taxes and notary fees will costs 10% of the property price.

I dont think property tax infringes human rights at all, it is the right of the Spanish government to set them, they just happen to be higher than in the UK.
Yes, read the previous posts and you will see how much the price difference can be.

No paying taxes does not infringe human rights, but as usual you answer posts with statements about things that are not said, please read what is said before making statements about something that was not written.

Last edited by Econ; Sep 27th 2009 at 8:39 pm.
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Old Sep 28th 2009, 8:24 am
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Default Re: At last some good news - for those wanting to sell their property.

Originally Posted by manamama

In face, this house is worth more here than my MIL in Hertfordshire (similar size too).

A little off topic. sorry
Your MiL is the size of a house and you have her for sale? Good grief

Sorry, couldn't resist, I'll grab my coat and jump back to Aus
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Old Sep 28th 2009, 9:28 am
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Default Re: At last some good news - for those wanting to sell their property.

Originally Posted by moneypenny20
Your MiL is the size of a house and you have her for sale? Good grief

Sorry, couldn't resist, I'll grab my coat and jump back to Aus


well spotted....(these are deliberate funnies you know)
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Old Sep 28th 2009, 10:31 am
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Default Re: At last some good news - for those wanting to sell their property.

Originally Posted by manamama


well spotted....(these are deliberate funnies you know)
Of course they are I heard of people knocking their MiLs but you've taken it a tad further than most
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Old Sep 29th 2009, 6:38 am
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Default Re: At last some good news - for those wanting to sell their property.

Originally Posted by fionamw
Do you mean the tax on sale or the estate agents' fee scales? I'm out of date with the UK market but I'd be surprised if many are asking 3.5% & getting it.... and none I've ever heard of charge a flat fee. So maybe the way to go is for estate agents to charge a % nearer that of N European countries like UK & Holland?? Of course getting rid of the 20% tax would help too!
In our area most local agents are asking a realistic fee, 3% and have dropped the sole agent condition, but QSD are still asking 10%
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Old Sep 30th 2009, 6:37 am
  #22  
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Default Re: At last some good news - for those wanting to sell their property.

Mmmh. I'm sceptical. I think if there was economic meltdown all over the world you would always find someone popping up to talk about buyers "flocking" to this or that market. I spoke to some insiders recently who deal with property funds mostly backed by institutional money and they are sniffing around but only with deals starting at 50% below list and then only for large blocks of property. I think private sellers (like me) might have to wait a lot longer.
(SNIP)

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Old Oct 1st 2009, 3:14 pm
  #23  
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Default Re: At last some good news - for those wanting to sell their property.

Originally Posted by HBG
I've got no idea where the house prices are going, in the same way that I've got no idea where the pound is going, but when I walked the dog this morning I saw a new Se Vende sign and looked it up because I know the house concerned. The German owners went home years ago.

It's up for what I would consider less than half-price, an absolute bargain, but all the other people trying to sell in the same area must be distraught, their places will never sell at their prices.

Quite a few of them have been up for sale for years, I've been here for nine years, and many have been for sale since then. One elderly Spanish couple have died since putting their house on the market, and their non-resident children have just increased the price. They live in Madrid and are putting the house up at Madrid prices. But, who knows? I don't.

(And nor do all the estate agents who have closed down, there used to be a dozen in the area, there's only one now, and he runs a profitable side line).
WE ARE LOOKING - WHAT PRICE IS IT?
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