How does the Spanish estate agency system work?

Hi.

Don’t know what generally happens but we have purchased property in Mojácar. With two agencies I said what I was looking for, budgets, locations etc and asked their advice. One was great and showed me some good properties and were helpful. One lost the list I wanted to view so it was a bit of a random day. With another agent, I checked their website and made appointments to view. They were clever enough to drive to all the properties I wanted to see initially and it was easier to cut some from the list. At no stage did anyone ask us for payment or any up front monies at all. In all I met with five estate agents. 

GerryHugh gave some valuable advice. And here's mine. I should point out I don't know your age, if you are retired, have children moving with you, if you wish to let out the property when you're not there or if you'll continue to live in your mother country. 

1. If you're over 55, I would advise not to buy. You can rent off season pretty cheaply and even if you rent in high season you won't have too much money committed. 

2. Employ a competent solicitor to represent you solely; not the abogado of the vendor or estate agent. You've been warned! If you do nothing else heed this advice.

3. If you're hell bent on buying property try and visit for several week in the off season and rent as near as possible to the area in which you are interested. If you can spend 5/6 weeks there November - March you'll learn much and even that Spain is for you. Save me from the guy who moans about the humidity, heat, tourists, Spanish banks, Utilities, no interest in learning some Spanish, the Spaniards, the Brits, the Irish (got that in), the local police, the bus service, Brexit, the shortage of Branston, Full English, Kelloggs, Heinecken, etc.

4. Prudent purchasers of Spanish property would already have the internet well visited a short list of properties to view. Don't confine yourself to one estate agent. Remember, much of the properties you saw for sale on the internet are not for sale. So ensure you don't waste your time viewing stuff that while on the market is not for sale - I bet you're now wondering about this. 

5. I'd strongly advise not to sell your main property in your mother country until you're settled in Spain for at least 20 years.

Thank you Gerry and Matthew

We are the classic cliche of early 60s, semi-retired, wanting a warmer and sunnier bolthole where we can relax and enjoy a broader life experience. As well as visiting several times a year, we would hope to use it as a base to explore Spain. 

The option to rent and spend some time to test an area out has obviously not been available this year ... 

The appeal of buying is that we could leave our stuff there and come and go as we pleased. It is not an investment, it is intended for our pleasure. However, we are aware that the money could be used for quite a few holidays instead so it is always interesting and helpful to hear from others who have given it a go about how realistic we are being!

remember that you will only beable to use a holiday home under the Brexit regulations of 90 days in every 180 so it limits the amount of time you get to spend in your holiday home.  Unless of course you intend to rent it out when you are not here and then you have to factor in the tax paybable as a non resident.

Read my Irish watered red Lips:-, It's an investment (and from my experience not the best of investments). Treat your adventure as an investment and if you can't make some kind of money at least it will cut your losses.

Talking tax, wether you rent your property out or not you will still have to pay none resident tax, (if you own any property)

Read my lips again, the answer is Yes and a plethora of other taxes as well.

Hi Shazzy,

The estate agents work basically the same as the UK, you see a property you fancy, you contact the agent to view, YOU NEVER PAY THE ESTATE AGENT ANYTHING. The estate agent is paid by the seller. If you like the property and are asked for 10% deposit, then pay this to your lawyer, NOT the agent.

Regards  Jenni

Thank you Jenni, that's reassuring. 

On the Kyrero podcast - which I suspect is promoted by estate agents - people talk about having their hands held through the whole process by an estate agent, who shows them a wide range of properties, and some comment there 'wasn't even a fee'. So it's reassuring to hear that you can still use the standard UK style system of approaching agents.