20 Apr 2024 9:36 AM:
Normally, you negotiate a price that you agree with, then open an escrow account of 5% of the price of the apartment. This 5% will be deducted from the total price. The real estate agent's job is to take the offer to the owner and if a deal is agreed upon, then you can pay the remaining cost of the apartment by bank transfer. If the agent insists on receiving money BEFORE a deal has been reached, just shake his/her hand and say "have a nice day!" This comment will make the agent realize that you aren't stupid concerning the 500€ "deposit." They will find a million excuses as to not reimburse your money. If the agent says that this is standard practice, again, a handshake and a goodbye with a smile, will force him to realize that you aren't stupid. I have bought 3 properties in spain and was NEVER asked to pay a "standard" deposit of 500€!! Agree to a price to make the purchase, give 5% of total price on a bank transfer to the IBAN bank number of the COMPANY, not the agent, then when you pass through notary and everything checks out, then you make a second transfer for the remaining funds to be paid and the agent will give you the keys. At THAT time, the agent will be paid his commission.
Thread:
Please can someone help - offer contract 500 euros to start negotiations?
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