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Making an offer....
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cliffmorris
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PostPosted: Tue Mar 27, 2012 6:06 pm    Post subject: Making an offer.... Reply with quote

We are moving to Almería in early April and plan to buy a villa. We know that property values have declined dramatically in Spain. Is there a percentage below the asking price that one should make as a first offer in the current market?
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Que-bien
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PostPosted: Tue Mar 27, 2012 8:17 pm    Post subject: offer Reply with quote

Go as low as you like, you can always go up icon_smile.gif
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ejay
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PostPosted: Tue Mar 27, 2012 9:27 pm    Post subject: Reply with quote

Cliff,...your from Blackpool!!!!!! icon_twisted.gif ,......."bid em in the knees lad!!! icon_wink.gif ,......they can only say no!!!!" icon_razz.gif

I've just sold a Bungalow in Bispham that my Father left me, and if you could know the 'insults' offer wise that I have had to 'laugh at' you would cringe!!!!,........"but I got my price in the end!! icon_wink.gif ,....and it's the same with buying, do what they did with me, go in low and see what happens!!!!,...once they stop laughing!!!!" icon_wink.gif

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Tumbit
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PostPosted: Tue Mar 27, 2012 10:14 pm    Post subject: Reply with quote

Cliff, rest assured that if you make what you consider to be a low offer, and the vendor refuses, there are literally thousands of vendors out there who WILL accept a similar offer on a similar property
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cliffmorris
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PostPosted: Wed Mar 28, 2012 9:54 am    Post subject: Reply with quote

I have been hearing of offers being made 40% less than the listed price - do you think this is true? A Place In The Sun - Winter Sun was on recently in the UK and they said this was happening in many parts of Spain.
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Tumbit
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PostPosted: Wed Mar 28, 2012 10:01 am    Post subject: Reply with quote

cliffmorris wrote:
I have been hearing of offers being made 40% less than the listed price - do you think this is true? A Place In The Sun - Winter Sun was on recently in the UK and they said this was happening in many parts of Spain.


The first peace of advice I would offer would be to ignore 75% of what you see on APITS ( especially when it comes to the prices of property )

Secondly, the 'discounts' available will vary enormously from area to area, the type of property you are looking at, and the vendor's personal circumstances - also whether their property was listed at a reaslistic price in the first place.

For example a standard 3 Bed 2 Bath Villa on an 800mt plot on a popular Urbanisation would have a lot of competition in most coastal areas, whereas a 5 bed 3 bath Finca on 5'000 sqmts with a pool etc... in an Inland location is slightly more unique and would be able to fetch a higher price comparatively speaking.

It would be impossible to put a figure on any discount you can and should apply without knowing the properties or circumstances you had in mind, and how realistically such properties were priced.

However, remember that it is a buyers market and that there are literally hundreds of properties on offer for every buyer and every budget. If you put 10 offers out on properties of a similar spec at 50% of the listed price I could almost guarantee that at least one of them would accept your offer.

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cliffmorris
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PostPosted: Wed Mar 28, 2012 10:04 am    Post subject: Reply with quote

Thanks for that, it really is an amazing position to be in as buyers. Plus we'll be cash buying and no chain involved, I guess that will be an advantage too?
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msnorwell
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PostPosted: Wed Mar 28, 2012 10:54 am    Post subject: Reply with quote

I don't mean to preach here .... but take great care that any property is legal and owned by those purporting to sell it.

Even if deemed legal there could be problems - as evidenced by the Priors situation in Vera.

Takes a brave person to buy in Spain (more so Andalucia) at the moment -- but good luck to you.

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pottsy189
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PostPosted: Wed Mar 28, 2012 12:45 pm    Post subject: Reply with quote

Suggest you rent for a year and sus out the situation,and only use solicitors that are recommended by friends that you meet in that time, as 99% are micky mouse types., Spain have completely different laws to us in the UK regarding property sales
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cliffmorris
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PostPosted: Wed Mar 28, 2012 1:04 pm    Post subject: Reply with quote

I appreciate the advice. I think having done extensive research and we will continue to do more we'll be ok. I know some people have got their fingers burnt but you learn from other peoples mistakes and move on.

99% is an amazing figure - you must have spent a fortune! icon_wink.gif
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cab2
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PostPosted: Wed Mar 28, 2012 5:38 pm    Post subject: Reply with quote

cliffmorris wrote:
I appreciate the advice. I think having done extensive research and we will continue to do more we'll be ok. I know some people have got their fingers burnt but you learn from other peoples mistakes and move on.

99% is an amazing figure - you must have spent a fortune! icon_wink.gif



Extensive research is no subsitute for living in the area, whats the rush? renting is sound advice you get to evaluate the pros and cons without getting your fingers burned. Property prices are going nowhere but down so you won't lose out financially by renting. Fools rush in ....comes to mind!
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cliffmorris
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PostPosted: Wed Mar 28, 2012 5:40 pm    Post subject: Reply with quote

We are renting initially. But I can't believe how negative some of the posters are on here! I have spoken to loads of people perfectly happy with their lot in Spain but if a few of you are to believed no one would ever come to live there!
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cab2
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PostPosted: Wed Mar 28, 2012 5:44 pm    Post subject: Reply with quote

cliffmorris wrote:
We are renting initially. But I can't believe how negative some of the posters are on here! I have spoken to loads of people perfectly happy with their lot in Spain but if a few of you are to believed no one would ever come to live there!


It's called being realistic! the goalposts are constantly being moved, so buyer beware as the saying goes.
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pottsy189
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PostPosted: Wed Mar 28, 2012 7:11 pm    Post subject: Reply with quote

I did get my fingers burnt in 88, a long story but got money back after 14 years with a bit off interest, now have a nice flat on the front
Just be careful !
On another site I ask an so called solicitor what were his letters after his name I am still awaiting after 3 days, remember there are two types one you can just buy [like having a rich dad] the other you study for and carry insurance to back them up, these are mainly in the big cities [Madrid;Barcelona ect]
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Que-bien
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PostPosted: Wed Mar 28, 2012 8:03 pm    Post subject: prop Reply with quote

If you go to the bank they will give you a list of repos, I was looking at a website for a bank last week and was surprised to see what they had on offer all over Spain, some with as much as 75 % lower price than what was last sold for, I can't find it now, but If I do I will send it to you.
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