Bankers draft fee for house purchase

That seems excessive. I bought my house four years ago, purchase price €191k, I was with Sabadell. The bankers draft was €450, reduced by 50% because they offered me the same house insurance deal.

Shop around.

Thank you so much for your reply. I hear what you have said, which does confirm it can be a lot of money to take your own money out of your own account. Everything has gone up so mine maybe the case which I shall negotiate and shop for insurance. You have been most helpful for which I’m grateful Thank you.

Yes, same with us in April this year, ended up taking their awful house insurance. Hoping to move all our direct debits to my Spanish N26 online bank account ( no fees ) asap and close the Sabadell account.

Thank you for your reply. I can’t believe I’ve got this far through the process and just found out about this, I’m further stung by the stamp duty, and today I found that as the purchaser I even have to pay the sellers outstanding bills in the property. It’s outrageous the moral of the story if you decide to sell your property don’t pay some of your bills cause your buyer picks up the tab.! Incidentally we have all our direct debits with WIZE free and I will shop around for house insurance as I will be charged the 0.65 % but it may run out cheaper to get my own insurance. Other buyers beware of all charges before you pay your deposit as your dream could become a nightmare. Thank you again Mags sorry about the rant.

Who has told you that you should pay the vendor's outstanding bills? 

Do you have a solicitor acting for you, if so, did you choose them? 

Regards the draft, this is not law. When I bought four years ago, like others, I arranged not to pay by bankers draft but by bank transfer on the day. 

Dear Relyat, thank you for your reply, My Spanish solicitor I’ve had for 16years and she has been there through my first house purchase, late husbands passing, and court proceeding to Madrid to get an off plan deposit back. So you can see I totally trust her. The debt business is a retainer of 10% which the seller used to have to pay but the law changed and now it’s the purchaser who pays it, it’s immoral in my book. As for the bank fee thank you so much for this info I shall certainly try. Regards

Sorry bit of wrong info it’s 3% of sellers capital gains tax !!!!! Outrage

That makes sense. 

I'm glad that you have a solicitor that you can trust. 

I wasn't aware that you were now responsible for the 3%. 

Speak to your solicitor and explain about fees and that you want to pay by bank transfer. It may be worth suggesting that the day before you transfer the money to the solicitors account, that might be more acceptable. 

In any event, it is possible and all that is required is that the Notary is satisfied that the vendor has been paid. 

Dear Relyat, I have been in such a pickle over figures that I actually did get that 3% wrong. My daughter has looked at the figures to say as the balance for the property is 103,000 in small print it says cheque payable to seller 100,000 and 3000 to my solicitor for the 3% to be retained to cover sellers possible debt. I am sorry if I’ve confused everyone not to mention my lost sleep. All I have to do now is find a translator for this week at the notary in Playa Flamenca for Gift tax dealings. Again I am so grateful for your input.