Best time to buy - worst time to sell!

 Hi,

I wander if anybody can comment on my questions; What is the best way and the easy way to sell my house? To put it for sale through an estate agent in Spain or to try to sell it privatlly on websites? Does estate agents charge a fee in advance?

I own outright the property (no morgage involved) and the property is in Costa Brava - Lloret de Mar. It's a lovelly propery (3 bedroom, 2 bathroom with swimingpool detaced vila) but because of personal circumstances, I really need to sell. Villa was built in 2002 and I was the only owner. 

Many thanks

Evelina

 Hi I have had my house for sale for a long time now both with agents and on internet free ads

Most agents charge about 3 % , I have never paid an agent up front, they will have to earn their money by getting a sale first !

Yes its not a good time to sell ! but a very good time to buy.

Good luck with the sale

Tony

 I went for a short time (3 days) in Lloret, end of August and during my short stay I visit an estate agent (I belive they were russians). They told me, they charge 5% of the property price but half have to be paid in addvance - so they wanted 4500 euro in advance and rest on sale. 

I came home thinking I'm goner try to sell it by advertising on websites - but I don't tink is working verry well!! I live in UK so it seems that I need to come back to Spain and try to find a decent agent and put the ad on the gate SE VENDE/FOR SALE.

I agree with you John, I won't pay an agent for everyting that I need to do but my predicament is that I'm not there, I'm in UK!

 I belive Rusians are buying but I think you should find an agent who gets paid AFTER the sale !!

Tony

 I belive Rusians are buying but I think you should find an agent who gets paid AFTER the sale !!

Tony

I have never heard of an agent who wanted up front money.   If I had I would have avoided him like the plague !

 there are several agents in my area that ask for payments up front.

I have always thought if you could charge 200€ for a property listing and take on 100 properties,people could then dissapear with a tidy profit?!

 That is why I refused to pay georgia and yes John, in Costa Brava are agents agents which are asking for upfront payment. That is why I came to this forum - to ask if everyware in Spain is same or the scams are more upnorth.

Thank you.

Demanding part of sales commission up front strikes me as a SCAM - pure & simple !!!

Beware & good luck,

Harry

Harry, maybe its a good way to avoid time wasters too. !!!!!

 Thank you Harry.

Eve,

If you really have to use an agent then I suggest its essential to do some "leg work".

EG: I am currently selling some property in my home country. I got 5 agents to quote & their proposed commissions ranged from 1.5% - 2.4% with all but one suggesting I bear all advertising costs. I finally agreed a fee ranging from 1.3% to 1.5% depending on price achieved (higher fee/higher price), with the selected agent (reluctantly) bearing half the advertising costs subject to a cap. After initially meeting all the agents, I insisted they put everything in email (ie they much prefer to "talk" !!). Also, I found it easy to disgard the undesirables since they tended to quickly get in my face/became abusive no matter how politely I requested them to clarify/justify things !! I also insisted on feedback obligations & had this written in the agency contract.

Eve, the above may have no relevance to Spain - I am no expert ! But, hope it might assist you in some general way.

Cheers,

Harry

Hi Harry,

 Thank you for your time and for your advice; I think I’m a bit “ignorant” when it comes to Spain’s way of doing things!

 A quick resume: I live and work in UK. The house in Lloret de Mar-Spain was a holiday home which we purchase in 2002 (new built). Last year I got divorce and the outcome; I end up with the holiday home in Spain. In August this year I went across to do all the paper works (change name on electric, water, deeds etc) and I also asked one estate agent (I think they were Russians) what is the procedure to put my house for sale. They told me that I have to have all the documents ready (at that point, I was still waiting for deeds to be changed just in my name) and I have to pay them a fee upfront. I walked away.  

 I thought, I will do my own research and once I have everything ready, I can decide which way is better for me; Online (me advertising on few popular sites) or go back to Spain and find the estate agent who don’t ask for half of 5% upfront. Advertizing online and paying hundreds of pounds just for few months is as bad as the one who’s asking for upfront payment. It may work with renting a place – not with sealing!

 I thought, asking upfront, is a new way of doing business in Spain – that’s why I come to this forum and hoped to find/share as much information.

 What you explained me makes sense (a lot) and I thank you for that. I’m a bookkeeper not a sale agent J   

 Hi John,

 I understand and I know how difficult the situation is right now – in Spain and in UK (every ware), that is why I put “worst time to sale”.

 Probably if I could be as lucky as your son and have/find that kind of friend I will consider same scenario. Unfortunately, for me, after divorce, I also lost “so called friends” and I can’t afford to keep 2 houses. I supposed they were “friends with benefice” before J

Re divorce, Been there, done that, got the T shirt !!!!!

Good luck

 Aldo I’m coming from the opponent camp – when it comes to situations like this, we all on the same boat.

 I wish you all the best to you and your son.

Hi Eve,

One final suggestion should you decide to use agents. Request each one to suggest an (1) asking price (2) price they are confident of achieving within specified timeframe & (3) bottom line/worst case scenario price. Insist they put all this in writing together with recent comparable sales evidence (not asking prices!!) to support their figures. You will have to price competitively assuming you need to sell.

Be clinical & put a line through any guys that try to intimidate you with personal abusive etc in response to your reasoned structured approach ie good way to weed out the red neck chipped shoulders who cannot cut it ! I have been involved with high end commercial property all my life & have little difficulty separating competent property agents from the "other kind" (& this is just a general comment) !!!

Good luck,

Harry