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Beware Of On The Side – Brokers (Freelancers) on Ibiza

by lasanclas, February 27, 2014

Ibiza offers beautiful properties. What is hard to find is the really good deal where buyers find decent and balanced value for money.

As a rule get professional advice.

Resist the temptation of listening to those who “by chance” have heard somewhere (usually in the café or restaurant) of your search for an Ibizan home.

Even if it is appealing at first sight and perhaps even financially beneficial to acquire real estate via individuals outside the industry or via other intermediaries, you should act with the necessary caution:

– You can assume that the property is not or only poorly checked for legality and ownership.

– These intermediaries (also called freelancers) have no business reputation to lose.

– Their work is limited to what appears to be correct by hearsay.

– Of course, such “on the side- brokers” don’t work for nothing, but more often than not sell their mediation as a “friendly service”. Rest assured that this is not pure human kindness, but means that someone has found a welcome source of income in you worth courting.

– Freelancers get in touch with the property owners usually through acquaintances or friends or even through friends of friends.
Experience shows that each party involved calculates their individual share of the commission, and the buyer can hardly distinguish what is what in the offered purchase price. Price negotiations will therefore center on the intermediaries maximum involvement in the sales price and not on achieving the desired purchase price for you.

– Purchasing with the help of non- professionals often means paying more without realizing it.

– Further costs arise with regard to the purchase agreement, which, if you are in private negotiation, you should never sign without having it checked by a lawyer.

– In the event of private intermediation the sales-purchase deed should only be signed at the notary if you are accompanied by a lawyer or a gestor, as the Spanish notary in under no obligation to verify or instruct.

You should really undertake the mediation with a trustworthy and professional real estate agency.

Of course, the broker does not replace a lawyer or an accountant.

But a well-organized office with good information and valid images will save you a lot of time from the beginning and is less nerve-racking in the pre-selection phase of your real estate purchase.

The handling of real estate acquisition by real estate agencies, especially on such a small island as Ibiza, has to be very correct, because if not they run the risk of quickly getting a bad reputation.

Property sales prices that you find in the broker offer include a fixed commission fee that the seller has to pay.

The commission agreement between the seller and the real estate agency includes a fixed percentage, regardless of the sales price achieved.

Real estate buyers can become future sellers for a real estate company that works seriosly. Therefore dedicated brokers will certainly operate competently and act in your interest, also in terms of price negotiations.

Ask around in Ibiza about renowned real estate companies and their reputation.

Word of reliable and consistent work gets around!

This post is also available in Deutsch and Español.