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30 Oct 2007 12:00 AM by tpau Star rating in Leicestershire. 21 posts Send private message

we found a property with an estate agent, it was up with them for 274,000 euros, we offered 260,000 euros which was accepted.  We paid our 3000 eurs deposit, sorted out our nie and poa.

I was looking on internet upon my return and found this same property is up with another agent at 259,000 saying this may be slightly overpriced and owner may be prepared to accept less.  I feel slightly p.......d about this and am now left with the feeling we have paid over for this. It is definatley the same property.  Should i contact our agent and tell her about this and offer less or is it now too late and we have to go through with price we offered.

jean





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30 Oct 2007 4:09 PM by georgia Star rating in Algorfa (As seen on .... 1835 posts Send private message

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Hi TPAU,

would i be correct in saying that you purchased through one of the larger agents??

and if so who?

Georgia

 



This message was last edited by EOS Team on 11/2/2007.

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30 Oct 2007 4:56 PM by Rixxy Star rating in San Pedro. 2010 posts Send private message

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Tpau - if all you have left is a reservation fee then you should be able to change your mind and walk away if necessary - it goes to show you need to shop around. Spain isnt like the UK where the price is usually agreed with all agents. If the other agent charges a lesser commission then the price will be lower!

Take it up with them and dont take any prisoners!!



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30 Oct 2007 9:57 PM by mariadecastro Star rating in Algeciras (Cadiz). 9419 posts Send private message

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It depends on the agreements you made for the deposit contract.

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02 Nov 2007 3:44 PM by rowlandsbb Star rating in Gloucestershire &Hue.... 780 posts Send private message

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Hi Tapau

I hope you got a really nice villa for the price....say 3/4 beds 3 baths good size plot 400m2 pool plus perhaps even double glazing and solar heating!

Lots of opportunities available!!!!

Your 3000 € is often not refundable but many adopt a more professional approach

It is not nice to see different prices for the same house and tends to put you off!! but I would suggest that if it is 'your life style choice' then you go back and get the price down....perhaps walk away so that they may come back to you 

If it is a decent and professional agent I suspect that you will get a fair deal ...even in boom times the market goes quiet in November and no one will want to loose a sale!!!

Good luck

 



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02 Nov 2007 4:46 PM by Roberto Star rating in Torremolinos. 4551 posts Send private message

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Typical!....which is why I feel agents should be more strictly regulated, including how much commission they can charge. Clearly what has happened in this case (as with many others) is that the agents as usual ask the seller what "net" price they are looking for, then just whack on whatever commission they feel like before marketing the property. The result is disillusioned buyers like T'Pau, whose confidence in the Spanish property market is shattered before even getting a foot in the door.

The debate will always go on as to who actually pays the commission (buyer or seller), but as a seller, I always try to insist that all agents listing my property do so at the same price. So when they ask me what net price I'm looking for, instead, I tell them what price I want it marketed at, then ask what commission they want if they make the sale. This way I can ensure that all agents offering my property do so at a price I believe will be achievable (no point advertising it at an unrealistic price in the greedy hope that someone may pay it, unless of course you're not really that serious about seling), plus I can decide whether the agents that want higher commission than others are able to offer me anything extra for it - such as a greater chance of achieving a sale, due to better marketing or sales techniques.

Basically, since the seller chooses which agents the property is listed with, I feel the seller should also be the one choosing how much commission is payable. The buyer is of course free to "shop around", but as I started by saying, such huge variations in advertised prices only causes a negative effect on the market in general.

My sympathy to T'Pau, it's a rotten situation to find yourself in. I would try talking to your agent about this, but don't hold out too much hope of getting anywhere. The important thing is to remember that you chose this property because it ticked all the right boxes for you, and until you started looking around after agreeing to buy it (why do we always do that?) were presumably happy with the price. So as long as it still ticks those boxes, why not go ahead with it anyway? Contrary to what some people would have you believe, the Spanish property market in the mid to long term is as safe an investment as ever, and it will appreciate over time anyway, so just because you feel now that you could have got it cheaper, doesn't mean you 're not still geting a good investment for the future.

Good luck with your purchase!

 



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02 Nov 2007 7:11 PM by Smiley Star rating in San Pedro de Alcanta.... 2502 posts Send private message

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Sound words Roberto and agree in principle with everything you say. Guess the idea is to find out how much the other agent thinks they can get it down to from the 259 it is offered at and if the holding deposit is definitely in jeopardy and Tpau still wishes to proceed work out what the savings are against sacrificing the 3000€ reservation if it is indeed sacrificed - whatever the result it is still a nasty thing to happen.

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02 Nov 2007 11:20 PM by Cioffi1 Star rating in London & Calahonda . 215 posts Send private message

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In July of this year we were shown a three bed apartment in Bellavista Hills with a quoted price of 225,000.00 euros. The vendor was very chatty and told us the full story of why they were selling etc. etc. We didn't like the apartment it was poorly presented and maintained and we beat a hasty retreat. THE SAME DAY we were contacted by another agent who we had left our requirement/details with saying he had a great apartment for us to see, that it was a three bed and a "no brainer" at a price of 218,000.00 euro. He picked us up and on the drive told us the story of why the owner was selling etc. guess what?.............it was the same apartment we had seen three hours earlier for 7,000.00 euros less!!

It goes without saying that we didn't go and see if a second time as it just wasn't what we wanted but I did e-mail the first agent when I got home asking about the huge difference in price and never received a reply!





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03 Nov 2007 12:18 AM by mimmie Star rating. 145 posts Send private message

We got caught out too, we ended up paying 10,000 euros more than we needed to, took the matter up with the developer who was actually advertising the property on this site and our agent, but it got us nowhere!

Still we are very happy with the apartment which is a positive outcome.

Mimmie





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