Buyers Commission !!

Hi All,

I'm planning to move to Spain within a few months to look for a property to buy and live in. I have recently made contact with an agency (website advertising properties for sale) and have learned that they will charge me, the buyer, a 3% commission.  I have lived in many countries and this is the first time I have come across the buyer paying a commission. Is this normal?

In the "good" old days of the property boom developers paid Estate Agents up to 15% commission, and agents also charged a private property owner commission for selling the property.

I have come accross agents selling bank repossessions where he bank only pay circa1% commissions to the selling agent so they are now asking buyers to pay commissions or finders fee. I have seen this as a % or as a flat rate example 6,000 Euro.

Take a look at many of the bank websites, and view the 1,000s of repossessed properties they are selling direct, you could save yourself 3%.

Thanks David that explains it. Do you have any links to banks that are are selling properties direct. My primary sites are Idealista and Kyero, it would be helpful to have a few more.

 Hi i keep an eye on idealista also as most banks list their properties there.

Solvia is good and they are having a "Sale" i have been to view around 3 properties with them.

www.solvia.es

happy hunting!

It is a common practice to charge the buyer the comision which includes help with legal papers.

Also after buying you have to pay a nearly 10% tax, so be aware of that.

http://www.servihabitat.com/svhPortal