Real Estate Agents Spain

Real Estate Agents in Spain

It used to be said that there were more real estate agents on Spain’s Mediterranean shoreline than there are bars! However, with a recent slowdown in the property market in Spain, after years of incredible growth, that may no longer be the case.

There is a huge variety of agents to choose from, some good, some not so good, and some decidedly dodgy. In general, it is probably best to choose one that has a physical premises you can visit, and of course return to should you encounter any problems. Do not rely on the services of an agent who appears to be nothing more than one man (or woman) and a laptop.

Agents will normally charge commission from the vendor or developer, and should not take any money from you during the process of looking for properties. Once you have decided on the property you like, the agent/vendor will invariably ask for a deposit of between 3,000 and 6,000 euros. This is normal. However, check that this money is going to be put into a ‘client’ account, and not to the agent themselves. If you are unsure, take legal advice, as the deposit can also be held by your lawyer, again in a separate ‘client’ account. You wouldn’t hand over your money willy nilly to an agent back home, so why do it here?

Once the terms of the sale are agreed, you will be expected to come up with ten per cent of the purchase price (minus the deposit). At that point, it is very difficult to back out, without some kind of financial penalty. After that, a time will be agreed with the notary (a kind of magistrate) who will preside over the signing of documents in the presence of you, the vendor, and both sets of lawyers.

Buying property in Spain is not as daunting as people think, though stories of developers ‘grabbing’ land that you thought was yours, have certainly dogged the market in the Valencia region. Hire a good English-speaking Spanish lawyer, and you shouldn’t go far wrong. Costa del Sol agents include Kristina Szekely (top end properties), Viva Estates, Andaclucian Dream Homes and Livingstone Estates. We cannot recommend one over any other, it’s up to you to use your common sense (you’d be surprised how many people forget that after a few sangrias), a good lawyer, and your gut feeling.