Question
We just saw a flat we like at the price we want to pay (low for the size, state and area). Got a viewing on Friday, if we want to make an offer, what would be the next step? Hire a solicitor to check the paperwork and store the deposit?
I know we shouldn’t pay anything to the agent or seller or sign anything until an independent solicitor has done some checks. Anything else I’m missing? Note that the property will be gone very quickly if there are no hidden issues and we want to make sure we get it since we’ve been looking for a year now.
Answers
These are the answers of some Facebook group members:
“Normally pay the agent 3,000 euros to take the property off the market, then get yourself an independent solicitor”
“Solicitors will want to do checks before you pay any deposit but estate agent won’t take it off the market until you do. Depends which is greater risk to you which way you go. Risk losing deposit or risk losing house? Also if it’s on an urbanizacion it’s a good idea to track down the president and get some info on community fees, urbanizacion’s financial position etc as lawyer won’t necessarily look into that for you”
“3,000€ is cheap! Here we pay the agent 10,000€ for deposit! When an offer is accepted you pay a deposit, usually to an estate agent, and sign a contract. Date for final payment and completion is usually about 30 days later. If you renegade on the contract you lose your deposit. If vendor renegades should be in the contract that they refund and double your deposit. Have an independent abogado (not recommended by agent) check their contract before signing and explain everything to you”
“Speak to your solicitor and don’t pay anything to the agent (they will ask you too but if you do and the house is not legal and you pull out you will lose the deposit). We sent the €3,000 to our solicitor who informed the agent they had the money and a contract was signed. Once the solicitor checked the house was legal and had no debts the solicitor then transferred the €3,000 to the agent.”
“Your estate agent should put you in contact with the law firm they use, otherwise get you own . You deposit the reservation fee into the lawyers trust account. This amount is to take the property off the market until the due diligence has been done . Depending on the estate agency they will ask you to pay a further 10% less your reservation fee and then the full amount upon completion date .”
