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Ali73

Posted: Fri Jan 28, 2022 1:25pm

Ali73

Original Poster

Posts: 23

5 helpful points

Location: Almoradí

Joined: 8 Jan 2022

Posted: Fri Jan 28, 2022 1:25pm

JanetW67 wrote on Fri Jan 28, 2022 1:09pm:

Don't pay your deposit to the agent.  I lost 3k doing that when a property we were buying fell through and during Covid.  Always pay the money to the solicitor who will hold it for you as part of the sale.  Take their advice as they know the laws.

Omg how awful, so sorry this happened to you 😢

This is exactly what our solicitor is saying. Not to pay €1 euro. 

Mags03169

Posted: Fri Jan 28, 2022 4:40pm

Mags03169

Helpful member

Posts: 292

210 helpful points

Location: Algorfa

Joined: 7 Feb 2020

Posted: Fri Jan 28, 2022 4:40pm

Ali73 wrote on Fri Jan 28, 2022 6:26am:

Thank you for your reply. 

It's also a no no for us as not prepared to take the risk!  We'll be gutted to walk away but not prepared to lose any money!! 

Is the property only with the one agent or several? Possibly another agent might be a little more helpful .

Ali73

Posted: Fri Jan 28, 2022 5:02pm

Ali73

Original Poster

Posts: 23

5 helpful points

Location: Almoradí

Joined: 8 Jan 2022

Posted: Fri Jan 28, 2022 5:02pm

Mags03169 wrote on Fri Jan 28, 2022 4:40pm:

Is the property only with the one agent or several? Possibly another agent might be a little more helpful .

Thank you for your reply

I am going to do a bit of research to see what I can find out. I really hope we can proceed. 

ironwheels54

Posted: Wed Feb 2, 2022 12:05pm

ironwheels54

Helpful member

Posts: 66

92 helpful points

Location: Torrevieja

Joined: 17 Sep 2018

Posted: Wed Feb 2, 2022 12:05pm

Ali73 wrote on Fri Jan 28, 2022 6:33am:

Thank you. That's what I think too. I will speak to the lawyer again today to see if this is possible. 

We were on such a high last Saturday having our offer accepted. We had told the agents we are not prepared to pay a deposit until our lawyer advises us to do so. Feel a bit deflated at the moment. But if its meant to be it will happen. ...

...

Thank you for taking the time to reply. Have a good day 😁

walk away ,there are 1000s of properties for sale over here. What are you looking for and where abouts? asking becasuse I have a property for sale and if it fits your criteria then we could do a private sale and cut out agents, best wishes Bob

GlesgaRab

Posted: Wed Feb 2, 2022 6:29pm

Posts: 36

25 helpful points

Location: Orihuela Costa

Joined: 23 Jan 2021

Posted: Wed Feb 2, 2022 6:29pm

Hi Ali73

I am not a professional in conveyancing or qualified to offer legal advise, I do however have direct personal experience in relation to your post.

1 / Good indépendant legal advise from a solicitor in Spain is essential.

2 / Never rush a decision or feel pressured by agents who will tell you there's another dozen people queuing at your back to buy the property (I had this before on a house that had been for sale for 3.5 years but suddenly there was a panic) so take your time, take a step back even when it feels right and breathe - what's for you won't go by you.

3 / Make sure your armed with a complete list of costs and fees, not only checking accurately things like community fees for your new property but associated costs in the process of buying.

4 / Be cautious when contacting owners directly, some may not wish that contact hence using an agent and at other times it may alienate you from the agent and getting the best work from them on your behalf (some agents can automatically assume your trying to deal with the owner directly and doing them out their commission).

5 / A good agent can be worth their weight in gold, imagine all the experience and contacts they'll have amassed locally and your going to need some help and advice when you land in a new country with nothing but suitcases and flip-flops, so if this agent is already questionable - I would exercise caution 

6 / Commissions are huge and it's very expensive for a vendor to sell their property in Spain. Agents are fiercely protective over their potential buyers and if you have already contacted one agent the others who also have the listing won't be interested in helping you - well I say not interested - only half interested as the commissions are now shared.

That is just some of my thoughts and experience in the process itself. The fact that you found the place you love I assume your comfortable with the pitfalls in picking the right place to start with.

Don't let anything put you off - just be careful - and start living that dream !

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20kiki

Posted: Wed Feb 2, 2022 6:41pm

20kiki

Helpful member

Posts: 581

337 helpful points

Location: Torrevieja

Joined: 5 Apr 2017

Posted: Wed Feb 2, 2022 6:41pm

Ali73 wrote on Thu Jan 27, 2022 7:57pm:

Looking for advice. 

We have had an offer accepted on a property we love!! 

Our agents want us to pay a deposit under the reservation contract which our lawyer has advised us against until he has done his dugilgence. (I understand paying a deposit is normal practice, but our lawyer has said the deposit goes to the vendor and not to the agent) we are obviously going with our lawyers advice, we can't afford to lose deposit. We are in catch 22 as the agent is not sending the information required to our lawyer, until the deposit is made. 

Agent has good reviews and we do not want to walk away from the property. 

Anyone had a similar experience? 

Thank you in advance. 

My holiday home purchase required a deposit which was held by the Agent (on the vendors behalf as a promise to pay)

My Agent was Alegria and they arranged everything 4 me as I'm UK based

Good luck x

Ali73

Posted: Wed Feb 2, 2022 6:52pm

Ali73

Original Poster

Posts: 23

5 helpful points

Location: Almoradí

Joined: 8 Jan 2022

Posted: Wed Feb 2, 2022 6:52pm

20kiki wrote on Wed Feb 2, 2022 6:41pm:

My holiday home purchase required a deposit which was held by the Agent (on the vendors behalf as a promise to pay)

My Agent was Alegria and they arranged everything 4 me as I'm UK based

Good luck x

Thank you for replying this really helps. we bit the bullet and paid deposit. Agents have advised in holding account and have given us in writing confirmation of refund. We didn't want to lose the property. 😁

Macconraoi

Posted: Thu Feb 3, 2022 10:06am

Posts: 10

1 helpful points

Location: Busot

Joined: 18 Jan 2022

Posted: Thu Feb 3, 2022 10:06am

Kelvin1960 wrote on Thu Jan 27, 2022 8:27pm:

Lots of stories of people paying agents the 3000 Euros, then the transaction fails for some reason, and the 3000 is lost.

The preferred route is to pay the 3000 to your solicitor (to show good faith) and have the solicitor release it at the appropriate stage.

FWIW we worked with the agent and our solicitor to insert clauses into the contract of sale with the aims of (a) recovering our 3000 in the event that our survey results were unsatisfactory, and (b) requiring the vendors to get the deeds updated.

You have leverage on these clauses before you pay you deposit.  

Hello,

If I may join in, can anyone reccomend a neutral good reliable lawyer - if such a thing exists_

PC.

Ali73

Posted: Thu Feb 3, 2022 10:14am

Ali73

Original Poster

Posts: 23

5 helpful points

Location: Almoradí

Joined: 8 Jan 2022

Posted: Thu Feb 3, 2022 10:14am

Macconraoi wrote on Thu Feb 3, 2022 10:06am:

Hello,

If I may join in, can anyone reccomend a neutral good reliable lawyer - if such a thing exists_

PC.

We are using [email protected]

From recommendations. Good luck 😁

JanetW67

Posted: Thu Feb 3, 2022 10:39am

JanetW67

Helpful member

Posts: 353

118 helpful points

Location: Villamartin

Joined: 8 Oct 2020

Posted: Thu Feb 3, 2022 10:39am

Macconraoi wrote on Thu Feb 3, 2022 10:06am:

Hello,

If I may join in, can anyone reccomend a neutral good reliable lawyer - if such a thing exists_

PC.

We use Sun Lawyers.

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