Vox,

Sale of House in UK fell through at 11th hour. Lesson learned the hard way unfortunately. Decided not to risk continuing with property in Spain until money safely in the bank.
My point being that deposits from the BIG boys are rarely returned and commission they charge is well OTT.

Parador will be the agents and will already have added their 'cut' to the price. They are among the more expensive in the amount they add, so your place COULD be available elsewhere at a lower price.

I think vox is buying from a developer rather than a resale. In these circumstances the developer usually dictates to the agent how much commission they will pay them, rather than the agent adding the commission on top of the developer´s prices. Depends who the developer is of course.

Hi Keithwalters,

If you go to John Howell Eurolaw in London for your conveyancing and ask them to source the property "do not give your particulars to developers or agents" then they will split the cocommission 50/50 which at several grand will pay your fees and then some.

Regards,

John.

I heard on the grapevine that some of the members of staff at the Fadesa sales office were doing something similar.....ie, you go direct to Fadesa, but the member of staff that you speak to tells Fadesa that you came via such and such agent, Fadesa pays the agent the commission and the agent splits it 50/50 with you.

However, I also heard that said member of staff got sacked for doing it and the agent struck off. Oops.

Unfortunately Mike the type & quality of build for the money we are paying just isn't available that is 3 Double Bed, 2 Bath Quad, master room with Balcony and french windows to other two bedrooms for under 200K Euro, Unless you know different my friend!!!!!!!! Vox

Unfortunately this large Developer does only use agents! Vox

I know someone who worlks for Paradore the mark up is 25% No one gets paid from the person that takes your name at the home show to the person you talk to on the phone and then the people who show you around, every one you have contact with from the start to the finish gets in on the commision so you imagine that being shared out. It has to be a large mark up makes sence. No one gets a penny unless you buy ...They are paid on commision only.
That makes any propety already 25% above market value.

Vox,
Enjoy the trip but try not to commit until back in the comfort of your home and you can digest all you have been told and have read the small print!!!
No 7 day cooling off period and the agents job is to make you purchase before leaving.
Lots of property on offer in Spain. Especially on new developments and many resales on them are cheaper than off plan where your money might be tied up for years before your property finished.

Hi vox populia,

At 200k thats 200x100/125=160k for the property and 40 k for the agent. If you know the exact property you want then why not give John Howell a call and see if they will split that 50/50 you could do a lot with 20k even after paying their conveyancy fees.

Regards,

John.

My goodness. How prices have risen. Just been looking on Parador site. Tiny houses of only 79 sq.m. I work that out at 2,500k a sq.m!! and no aircon!! Prewired only. Appreciate there is a communial pool etc. but these do incur managment charges.
Hope Vox you are getting better value for money than these properties are.

The reason why the good big developers deal via agents is because they often do not want to get involved with all the work involved in finding potential purchasers and then having to assist in finance, and all the other requirements for buying in Spain
Once they decide to deal only via agents then they would not be acting in a very professional manner if they were then prepared to sell at a lower price to a buyer who comes in off the street [ and may have been introduced in some way by an agent]
Also they want their buyers to receive a good service from an agent as it reduces the hassle they have to deal with during building and on completion
Most big developers will deal with Parador because they are the largest agents...but in general all the agents get the same commission terms
The same situation happens with UK agents who act for developers
To suggest that you should always go direct to Spanish [ in other countries as well] developers to get a better deal leaves people open to being conned.....the English price is stated instead of the Spanish price!!!....developments with permits pending!......no bank guarantees etc...
Professional agents make sure that the properties they sell have all the permits, the developers are well financed and clients get bank [ as distinct from builders] guarantees for your deposit
I am no fan of Parador but [ from what I have seen and been told] whilst they do put indirect [ and sometimes direct] pressure on people on their Inspection Trips many people have been very happy with them....but their style and ' after sales' does not suit everyone
Brian Rowlands BSc FRICS
Chartered Surveyor & Overseas Property Consultant

quote rowlandsbb "Professional agents make sure that the properties they sell have all the permits, the developers are well financed and clients get bank [ as distinct from builders] guarantees for your deposit"

Then there are some very unprofessional agents about, in certain areas, because what you have mentioned has not been the case and unfortunately how are buyers to know?

True.....but there is nothing stopping you from opening your mouth and asking the agent if they carry out due diligence on a developer before they agree to sell their products.

If you read my signature you will see that I am a Fellow of the Royal Institution of Chartered Surveyors and subject to a strict code of conduct which extends to making sure that anyone I deal with in Spain has similar ethics
So if you are in UK you can use a professional agent who is qualified to help and advise you about buying in Spain