Spain Money Saving Tips and Offers

Kbr88 said:
12 May 2012 @ 08:07

When you buy distressed property, you might also be liable for ALl unpaid taxes, utilities, community charges etc. this can be very significant so best to take specialist advice.

Steve said:
12 May 2012 @ 10:40

Banesto seem to be one of the few banks with prices that are starting to look realistic.
Ye the only one you managed to leave off the list,nice job Doosh bag.

Steve said:
12 May 2012 @ 10:47

Kbr88
These would be from the Bank direct so there wouldn't be any crap to pay.
The deals are simple.
All the taxes and costs are included in the deal even at 107% your still buying a property that was worth 30% more, and the property will go back up,Of that I have no doubt.
Property doubles on average every 7 years.
Everything expands and contracts and that is what is happening right now.Just wait for the expansion. HAHA

Esteban said:
12 May 2012 @ 11:12

Presumably Cajacanarias specialise in the Canaries, which is the area I am interested in. Tried, but link says that the site 'Does not exist'.

jan said:
12 May 2012 @ 12:21

Esteban, What Island are you interested in, and what type of property. If you need any help I am based in Tenerife for over 20 yrs.

Gil said:
12 May 2012 @ 14:09

Property prices in Spain doubling every seven years? No way! Property prices are cheap and there are many good bargains to be had but don't expect the market to improve for many years yet. In Nerja where I have a property there are hundreds of properties that have been on the matket for years. A five bedroom villa opposite me has been reduced from 1.85 million to 1.35 million and they still have had no offers. The only chance of the market really moving would be if Spain left the Euro and devalued its currency by 30%.

queby said:
12 May 2012 @ 17:18

If you buy a property from the bank can you trust that it will be completely legal?

Steve said:
12 May 2012 @ 18:44

Esteban

I forgot to mention don't what ever you do buy in Tenerife they are mental out there the prices are way out they haven't really dropped yet, so you'll get stung.
As the sun shines all year round they must think they are untouchable or something just watch this space,the only save in grace is that it's an Island and land is at a premium, but then again so is the Bahamas so why isn't Tenerife like that?I know where I would invest? you want to start buying in ether Brazil or go for the troubled areas I tried Iraq years ago but you just can't get in.My only regret was Monaco I was able to but a Studio back in the mid 90's for 80k! but,I didn't, as I listened to Wifey.If you take a look at how much they are now....ouch

Neil said:
13 May 2012 @ 12:40

Now its our turn.
Dont even think about buying these toxic properties.
Let the Banks get really deperate until they have to reduce the prices.
The properties are being reduced ,so why didi,nt they offer the properties to the previous owners at this price?
Its all about power.They are evil institutions.This has got to stop.

Pattyb said:
13 May 2012 @ 13:41

Steve sounds very rude and ignorant - he's not one of those Brits that we are all embarrassed by, is he?

Pattyb said:
13 May 2012 @ 13:42

Steve sounds very rude and ignorant - he's not one of those Brits that we are all embarrassed by, is he?

Fizzy said:
13 May 2012 @ 13:50

Queby: In answer to your question - not in all cases. You always need to get independent legal advice from a recommended property lawyer who works outside of the local area. Don't use a lawyer that an estate agent or bank recommend.

Spain Money Saving said:
13 May 2012 @ 17:00

Steve,
I didn't miss Banesto off the list. It's the seventh one on the list:
- casaktua (banesto): http://www.casaktua.com

Steve said:
14 May 2012 @ 10:20

Ouch PattyB, Ignore me or better still switch off the laptop.

Neil the Banks aren't going to get desperate, they will have got there money back in the form of an indemnity policy that they made these people take out when they took out the original mortgages.
Off loading there existing housing stock is pure profit and a bit of PR to make some peeps feel sorry for them and make newbies feel they are getting a good deal.Take advantage of the offers as you will win in the end.
Fizzy is correct get the right legal pref' away from it all.
To the Mod Nice one I found it Sorry it's a dyslexic thing :)

Mutley51 said:
14 May 2012 @ 19:30

Does anyone know whether UCI have a similar website?

normansands said:
14 May 2012 @ 19:34

bought off plan for 260k - bit of a discount - 9 years later worth 360k - at this rate I need a good many more years for it to double unless I can move it to London - doubling per 7 years is long gone - you are kidding yourself....get real you are living in the past with high inflation

John said:
16 May 2012 @ 19:39

This website needs MODERATING. Comments from that person 'Steve' have no place in a decent conversation like this.

Spain Money Saving said:
16 May 2012 @ 23:18

John, I've deleted the post with the f word in it.

Oscar said:
24 May 2012 @ 17:54

Prices are still on the high side....there is a GLUT..sorry for the vendors...but this is a buyer's market...biggest problem is getting a MORTGAGE from the bank. A friend paid 24k Euros, and raised 36K from a bank, but it took 8 weeks for the bank to give the go ahead...Getting a MORTGAGE .....that is a BIG PROBLEM...

Steve said:
26 May 2012 @ 10:34

why delete the post? why not just the 'f' word?
That is the same mentality that got you all in this mess in the first place:)
Normansands you need to get real, move with the markets and you'll see I am correct.
You should have bought of plan at 180K then you see a double in 7 years.Your trying to justify paying to much in the first place, if they wouldn't sell at 180k then you walk away and find someone who will.Your fault

yike said:
12 July 2012 @ 00:34

You are doing a very poor favor to all the families in Spain who are being thrown out of their houses because they can´t pay their mortgages. This houses should not be bought by anyone and the banks should be stuck to them for the rest of times. Its inmoral and denotes a big lack of respect. The bank sale but they still get paid from the families they have been repossess. I wonder if Spanish people were doing this in the Uk or USA what would be your opinion on that. Sin Uk buyers and Northen european have been investing in our properties the prices went up and up every single year. Specially in the case of UK, aren't you so "Not want to be part of the EU", then go and by your houses in liverpool or think before you buy a repossess house. There is a family drama behind each single one of them. Karma comes around BIG TIME.

Karma said:
17 July 2012 @ 00:00

Having lived in Spain for a number of years I am now in the position where I can buy a property. I understand the moral aspect of repossessions but I have to look at all options in the area I wish to buy and purchase what is best for me from what is available. Love Big Time Karma

younose said:
30 October 2012 @ 00:46

if you had cash to make an offer for a property can this make a difference when buying a house in spain and is the time right now or is it worth leaving it a little longer

RedPilgrim said:
12 November 2012 @ 11:14

@yike - your comment above smacks of ignorance and racism.
All over the world people are losing their homes to the banks - and ultimately they have no-one to blame but themselves and the worlds poor economic climate.
I'm sure you weren't complaining when in the past the Spanish people enjoyed the profits of the increased property prices, the jobs created by the building boom and a buoyed economy? Yet now that that's gone you sound so resentful that overseas people are buying up repossessed homes at what you consider 'bargain' prices? The prices aren't bargain prices - they're the prices which the market dictates and I'd suggest you grow accustomed to it. It's happening all over the world and its the way market forces work.
Personally, if I were you I'd focus my energy on tackling the banks for some of their questionable practices... but keep in mind that people willingly signed the contracts which they did with the banks when they borrowed the money now owing.
Instead of blaming the English for your woes you should be more worried about whats going to happen when Spain finally exits the Euro Zone? Imagine what its going to be like living with the Peseta again... I look around this country and I see plenty of opportunity. That said, I also see a lot of laziness and closed mindedness. Siesta's, too many fiesta's, stores opening late and closed businesses on Sundays effects the Spanish economy... Think about that for a moment before you go mouthing off about Karma again.

Jackie said:
30 January 2013 @ 21:04

Weve been looking for a house in and around albox if any one has any ideas please contact me through my email
Pebbles12@live.co.uk
Thanks

Tenerife Repo Man said:
18 February 2013 @ 20:20

I have read some interesting comments here but apart from the moral issue, which is ultimately driven by circumstance, most potential buyers are interested in location and price.

As you will all have seen, most repossession properties are not exactly "desres" so there is a lot of searching and backround checking to do.

Down here in Tenerife we help clients to search for suitable repossession properties and you only pay the bank price, click on my name to see our selected bank repossession properties.

We are helping the banks to sell properties down here because we market them in a familiar way for our clients.

hartcjhart said:
19 February 2013 @ 18:20

Yike, you spund like a youngster to me,BUT, I bet all the elder spanish that built all the houses that us 'foreigners' were eager to buy at YOUR inflated prices,and I bet all the spanish that sold the land etc are not moaning about us

Paul said:
28 February 2013 @ 08:57

You will find a wide spread of prices between the banks. Some like CAM have undercut the market with their prices. This was helped by the government guarantee when CAM was sold to Sabadell. Others are struggling to sell because they refuse to book a loss on the property. New accounting rules are changing this. However the biggest change is the Sareb set up by the Spanish government to essentially buy the distressed properties back from the banks. Many banks are participating in this. In particular Bankia, but the likes of CAM and Banco Popular are not participating. The government has set a 10-15 year timescale to sell the properties within Sareb, so no desperate rush there. We expect the market to stay fragmented with individual bank policies and promotions dictating where the best deals are at any one time.

Esther said:
01 March 2013 @ 13:47

The Spanish Law has to be changed, urgently. But to don´t buy repossesed properties is impossible request and solution... Foreigners are buying a lot and therefore spanish people are getting poorer in every sense.

Peter said:
03 March 2013 @ 13:32

tnx for all ideas and opinums ;-)
currently we ar looking at the tarragona area since it seems to give most space and possibity for hard earn cash buyers.
any one want to help me?
petnys@hotmail.com

Katie said:
12 March 2013 @ 15:54

I bought a property through CAM- hired and paid a lot for a UK, Spanish based solicitor. The house is illigal and the solicitors did not and have not done their job. There are a lot of irregular thing surrounding the slae of this property (like why have I had another bank account attached to my mortgage) I am now having to pursue ligigation proceeding. Be VERY VERY careful when doing anything in Spain. Even a solicitor regulated by the law society does what he wants over here

Dan said:
18 March 2013 @ 17:11

Sifting through the websites its clear that the market still has some way to fall, most of the cheap properties are unattractive (bad locations, tiny, old etc). Spanish first time buyers are still non-existent and there are way too many foreigners trying to off-load rapidly depreciating holiday properties that no longer make sense (double whammy with the £ falling in value).
Talked about redundancies are still yet to bite due to onerous Spanish labour laws. Only one way for this market at the moment.
Give it another year or two at least! Who knows, they may even get the peseta back - then and only then will Spanish property become an investment opportunity again!

Dan (Brit expat living in Barcelona)

Hatlak Bosa said:
19 March 2013 @ 20:33

Well said Dan!

rona said:
03 April 2013 @ 17:20

i found this chat really useful.i owned a home in spain from 2002-2007.lucky i sold it.i loved it so much but what about the uk repossessions?? i'm looking to buy again.love malaga city. if my house here gets repossessed i may still be able to afford a wee townhouse in spain.boohoo.