13. - What are the fees for selling a property using the Sistema Torrent?
Torrent de Juià S.L.’s fees for selling a property using the Sistema Torrent are 5% (excluding VAT) of the winning bid of the auction.
The first payment of this amount is received by Torrent de Juià S.L. from the seller from the amount received after the signature of the Deposit Agreement and corresponds to 2.5% (excluding VAT) of the opening bid. The second payment is also made by the seller after the signature of the Public Registration of Sale and corresponds to the difference between 5% (excluding VAT) of the winning bid of the auction and 2.5% (excluding VAT) of the opening bid, which has already been delivered after signing the Deposit Agreement.
The way and the amounts that have to be delivered as fees to Torrent de Juià S.L. depending on the opening and the winning bid, can be seen using the Final Cost Simulator.
Torrent de Juià S.L. delivers with the payment of each of these amounts the corresponding invoice with its 16% VAT broken down.
At this point we need to bear in mind the payment made by Torrent de Juià S.L. to the seller for the cost of the valuation, once all the agreed fees have been paid. To regularize this payment, the seller has to send an invoice, including the corresponding bill, to Torrent de Juià S.L. for the same amount paid to the valuation entity. The same applies to all the costs associated with the preparation of stays in the property by potential buyers, although in this case the invoices required should be issued by the various companies that have participated in the preparation of the property.
Example:
Let’s use the previous example (a not new property) where the opening bid is 240,000 euros and the winning bid is 270,000 euros.
In this case, the fees of Torrent de Juià S.L. for managing the whole process of sale would be 13,500 euros (5% of 270,000 euros). To this amount VAT at 16% has to be added, a total of 2,160 euros (16% of 13,500). The sum of these two quantities would result in a total amount of 15,660 euros.
6,960 euros (6,000 euros corresponding to 2.5% of the 240,000 euros of the opening bid plus 960 euros corresponding to 16% VAT on these 6,000 euros) would be charged by Torrent de Juià S.L. once the Deposit Agreement is signed. The remaining 8,700 euros (the total 15,660 euros minus the 6,960 euros already delivered) has to be paid once the Registration of Sale had been signed.
Torrent de Juià S.L. would deliver two invoices corresponding to these two
charges:
- The first one for a total amount of 6,960 euros, with a Tax Base of 6,000 euros and 960 euros VAT (16% as a service).
- The second one for a total amount of 8,700 euros, with a Tax Base of 7,500 euros and 1,200 euros VAT (16% as a service).
Let’s suppose that the seller pays 270 euros (VAT included) for the valuation of the property. In order for Torrent de Juià SL. to return this amount to the customer, once the corresponding fees have been regularized, it will have to deliver an invoice for 270 euros (VAT included) to Torrent de Juià SL.
On the other hand, if the costs of organizing two stays in the property by two potential buyers were 300 euros (including VAT), in order to have this amount returned, the seller, once the corresponding fees have been regularized, would also have to make out an invoice for 300 euros (including VAT) to Torrent de Juià SL.
These fees include the following items and services:
1. - Legal advice for the seller.
2. - Legal and financial advice to potential buyers.
3. - Specific advertising of the auction of its property in different formats and media.
4.- If it is a house, the possibility of organizing stays for potential buyers.
5. - Organization and celebration of the auction in the same property.
To explain the Sistema Torrent, Explanatory Presentations are held periodically and before the auction in the property to be auctioned, which presents an opportunity to visit it. Dates and timetable can be consulted in "Explanatory Presentations".
If requested and without any commitment on your part, we also offer the possibility to make Explanatory Presentations where and when they are required.