Expensive Lawyers/Solicitors - Estate Agents

Share experience regarding ownership of property and/or living in Portugal.
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Kidson

Expensive Lawyers/Solicitors - Estate Agents

Post by Kidson »

Throwing open for comment and discussion the value contributed by Lawyers and Solicitors who charge anything between 1% and 1.5% on the purchase price of a property.

It seems not to matter whether the property is priced at Euros 100,000 or 1 Million - the work undertaken is seemingly the same, yet the cost to the purchaser is vastly different. I accept there can be more work involved in a complicated transaction, but that need not be related to price.

In the UK the charge by a solicitor is in the vicinity of Euros 750 to a 1000 for handling a sale irrespective of the value of the property.

Estate agents in the UK charge between 1% and 1.5% for the sale of a property. In Portugal - or at least on the Algarve it can vary from anything between 3% to a more common 5%, whilst 10% is not uncommon!

Can anyone throw any light as to why there are such major differences not only between the UK and Portugal, but within Portugal itself.
biffa
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conveyance costs

Post by biffa »

Dear Kidson

There has been a sort of unofficial cartel here for years keeping conveyance costs up.

Conveyance here is not as easy as in the UK but if you shop around there are lawyers who now have woken up and charge a set fee irrespective of properyt value.

If you need any intros let me know
Kidson

Post by Kidson »

Biffa - had I had the pleasure to meet you before embarking upon my 'adventure' I have no doubt - I would now be far far better off - not only financially but additionally would have obviated much of the 'hassle' I have had to endure. - Hope to meet with you in August!

I did try to shop around but there were obviously to many 'firewalls' out front which I was unable to penetrate.
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