Selling my property – FAQs
Are there any hidden charges?
5 Real Estate provide a totally transparent model . There are absolutely no hidden charges when we sell you property in Spain. Our fixed fee, no commission prices are clearly outlined in all of our documentation including our listing agreement and our sales and purchase contracts. There are are also no upfront fees to pay to 5 Real Estate for the marketing of your property, we do it all for free and you only pay us once we have secured a buyer.
5 Real Estate have 2 fixed fee options for you to choose from:
- Pay €999 + IVA if on the acceptance of an offer for your property you use one of our panel of independent legal representatives. Our recommended lawyers are all fully registered, independent of 5 Real Estate and also charge a fixed fee for handling the sale of your property of €999 + IVA. This provides you with the option of selling your property for a total of €1998 + IVA, compare that to the typical 5% + IVA and legal fees and there are very significant savings to be made when using our fixed fee, no commission model.
- Pay €1,999 + IVA if you use to use a legal representative of your choice. Why the extra fee? The additional €1000 is an administrative fee to cover the additional administrative processes necessary when dealing with multiple lawyers.
It is important to note that the estate agents administrative costs are already incorporated in to their % based commission model which is typically 5% of the sales price plus IVA, you then have your legal costs on top. 5 Real Estate are simply being transparent about what you are paying for and pass on the savings we make in administrative costs if you choice to use one of panel of recommended lawyers.
What does your Fixed Fee cover?
Our No Commission, Fixed Fee covers everything you would expect a professional estate agent:
Good quality photographs of your property
A For Sale Board (if you are happy to have one)
Your property advertised on our website, property portals (including Rightmove and Kyero), social media and digital marketing, as well as our targeted email marketing campaigns.
We qualify prospective buyers, undertake professional viewings, and facilitate all offers.
When an offer is accepted your dedicated after sales executive guides both the buyer and yourself through the sales/purchase process.
Can I list my property for sale with other agents?
Yes of course, 5 Real Estate will never ask you for exclusivity on the sale of your property and you are free to list your property with any agent of your choice. We will continue to work very hard to be the agent to sell your property enabling you to save thousands of euros on estate agent commissions.
Buying a property – FAQs
What are the property purchase costs in Spain?
It is important that you factor in the additional purchase costs when considering the budget you have to spend on your property purchase. The largest cost is the purchase tax which is currently 10% in the Alicante region however, it can vary in other regions. In addition there will be notary, land registry and legal fees to pay plus IVA (VAT), additional costs are typically 13%-14% of the purchase price although they can be higher for lower priced properties. Our team will be happy to give you a breakdown of your total purchase costs and assist you in defining your budget.
Who pays the Estate Agents commissions?
Ultimately it is the money you pay for the property that gets handed over to pay the estate agents fees at the notary.
The important thing to consider when looking to buy a property is that the advertised price of a property includes the agents commissions, this is typically added on top of the price that the vendor would like to achieve from the sale of their property.
With typical Estate Agent commissions ranging from 3% – 10+%, this can easily stretch to several thousand euros. 5 Real Estate and our No Commission, Fixed Fee of €999 means that we can potentially save you thousands of euros on your property purchase, as vendors do not have to factor in the high Estate Agent commissions when considering your offer. If you have had an offer previously rejected on a property that we have for sale then you should contact us.
If you are looking to purchase a property in Spain please talk to us before using a traditional commission based agent. Once we understand what you are looking our team of property consultants will work with you to fully understand your needs, the locations that you would like to be and the hand select suitable properties that match your criteria saving your hours of viewing unsuitable properties.