Buyers Agent
FREQUENTLY ASKED QUESTIONS
Here are a few of our most frequently asked questions. If you do not see the answer to your question, please feel free to email Marbella Property Buyers Agent.
Quite simply, a Marbella property buyers agent represents the buyer ONLY in the Marbella property purchase process.
People often falsely believe that the sellers agent is a relatively neutral party in the Marbella property buying process, but that’s actually not the case.
Their client (the seller) is the person who pays them their commission, so their primary interest is to secure a sale for the highest price as their fee is based on that.
A Marbella buyers agent, on the other hand, solely represents the buyer in achieving the best purchase price possible.
So when it comes to such a substantial purchase as a Marbella property, having someone working on your behalf makes sound financial sense.
There are many reasons why people should engage the services of a Marbella property buyers agent: Some being
1. For local market knowledge & advice.
2. Time poor.
3. Looking to invest, but are based overseas
4. To access off-market property not available to the general public.
5. To preserve their anonymity.
6. Your offers are taken more seriously by both direct sellers, developers & agents we work with, as they know you are using and paying for the services of buyers agent,
Our fees are based on the value bandings of the property you wish to purchase & can be found by CLICKING HERE.
As with any professional services, market knowledge, time, expertise, experience & connections come with associated fees.
Rather than looking at is as “Why do you charge?” look at it as “How much we can save you“
This is somewhat of an unknown until we know what type of Marbella property you are looking for and where.
It’s worth noting that a “discount” from the Asking Price means nothing if the property is overvalued in the first place.
In some cases, the asking or guide price may be set by the owner, often include an inflated value by the agent just to get the listing & a % added to include their commission. The sellers agent will just list the property anyway, hoping it will attract naïve or inexperienced buyers who do not have local market knowledge.
Our primary objective is to negotiate the best deal for our clients and ensure they do not over pay, by using all our local market knowledge & negotiating skills.
In most cases, the savings made far outweigh our fees, in essence self funding itself. eg. If we save you €80,000 & our fee is €20,000 you are €60,000 to the good.
The simple & honest answer is, our time & expertise is not free & by receiving the engagement fee indicates to us that you are very serious about wanting to invest.
It also indicates to owners who are selling or agents we work with, that we are in fact working with a real buyer, as they have engaged our services, where your offer will be taken more seriously.
We will search for suitable properties over a 3 month period, which takes a lot of time, including phone calls, driving to meet owners & conducting viewings.
The actual engagement fee of €3,000 if broken down over a 3 month period equates to only €33 a day!
And of course the engagement fee is 100% deducted from the success fee on successful property purchase.
However, if you decide not to purchase after 3 months, or pull out of the process before this, then this fee is forfeited.
This has never happened by the way, as we always find our clients the property they require.
Yes, this is 100% refundable from the success fee on property purchase completion. Click HERE for further details.
Yes as this is one of our specialties.
We have many clients who wish to invest, but do not have time to travel to search. We do that for you, and can send you a shortlist of properties based on your requirements.
We can even close the whole buying process if you wish by Power of Attorney (POA)
This can also vary depending on a lot of factors & what you are buying.
Generally speaking, cash buyers (which most are), who are buying a property in Marbella where the seller is not in a chain, can be finalised faster than say, buying where the seller is in a chain, or buying an off plan or newly completed project awaiting first habitation licence.
As an example, a cash buyer with seller not in chain, anything from 6 to 12 weeks, if all local searches and due diligence is satisfactorily carried out.
Having a good legal representative is also vitally important, ensuring things go as smoothly as possible.
This will depend on how many clients & when they engage our services, but is is highly unlikely we will have any crossovers.
We work with each client for 12 weeks from engagement fee being paid & have never had that happen simultaneously.
Yes. We have built up very strong & trustworthy relationships with many professionals including Law firms, who can assist with you with everything you need, including obtaining your NIE and opening of bank accounts & any other legal matters.
Once the Law Firm has given a property completion date, this will usually be the same date our Success fees are paid.
If you are physically here to attend, this can be paid by wire transfer to us directly, or to the Law Firm handling the process.
If you will not be present, we would request this to be paid in advance of completion date by wire transfer to us directly, or to the Law Firm handling the process.
This would also apply, if we are representing you via POA (Power of Attorney) to close on your behalf.
We understand that many of our clients buy purely as a holiday home or for investment purposes & are time poor.
We have built up many connections who can help with whatever you need, including:
- Building, decorating, refurbishment & maintenance contractors
- Furniture suppliers
- Security companies
- Short term or holiday lettings services
- Reselling services
In fact, if there is anything else you need, just ask.