ANYONE THINKING OF SELLING THEIR PROPERTY, I'M LOOKING TO BUY.

Hi,

I have spent alot of time looking for a property and I know what areas I like. From Cabo Roig down as far as Playa Flamenca.  Walking distance to the beach, shops & bars.  I have been told that I can get a 2 bed in a really nice area 75/80000 euro.  Does anybody know anyone out there who is thinking of selling privately.  If so please get in touch as i'm heading out again very soon to have a look.

thanks

Monica

 Hi Monica.

I've know the area for over 7 years and very much doubt that you'll be able to get a two-bed apartment for that price within walking distance to beaches. Expect to have to pay 120 + instead. Please let me know if you do find anything below 100 K, as I'd also be interested.

Good luck!

Hi you could try asking in the banks to see if they have any repossessions on their books, if you do decide to buy get your self a good lawyer.

Good Luck

I'm a good walker, I dont mind a 10 min walk, I'll buy good trainers.  Anyhow I have a friend of a friend who has bought in Cabo Roig beach side for 75000. You never know someone out there may be my friend.

If there are so many properties about in that region for that sort of price why are you asking on here and not dealing with the agents as I would have thought they are the ones in the know.

Hi Maggy

great advice, never crossed my mind to use an agent?  

If you go to www.kyero.com, then put in your maximum price (100,000 euros), 2 bedrooms, area etc, you will get a list of properties from different estate agents.  You can then get in touch with several agents before you go out there, which will save you valuable time.  Heed all the advice on this forum about getting a good (independent) lawyer etc.

Sue

Hi Monica - did someone say agent??

There is a lot of good priced property around at the moment and it is starting to move more quickly - we are getting really busy now!  I will send you a PM.

Regards

Monica 77

I would ignore agent or private asking prices to start with and ignore sales bull' and try some silly offers. Always worth a try in the current climate, and you can always increase if needed later.  Bargain hard!

Good advice from goodstich!

Sue

I'm not in a mad rush to get a place.  I am perpared to sit back and wait until I get what I'm looking for at the right price.  I cant see house prices in Spain going up for a long while yet, but what Dumb and Dummer has done in the election will only put more families under pressure and I think you will see more properties selling. Lets hope with Spains win the world cup helps its recovery.  Anyway if anyone knows of someone interested in selling let me know.

Goodstich is spot on!

You can make what might be rediculously low offers and sure enough someone will accept.

For some their Spanish property is killing them with mortgage, community, bills etc and if they can just sell it they're FREEEE!

I have someone completing tomorrow and he's picked up a real bargain and the owner will be lucky to see a few thousand there are that many retentions.

It was already with the repossession department of the bank and they had to waive their excessive fees to allow completion to go ahead otherwise insufficient funds. Fortunately this bank made the right decision and on the spot and maybe that's a sign they're starting to smell the coffee!

Monica,give it a bit more time.

No need to rush as prices will be going down further,it's inevitable.

Many took out interest only mortgages and presumed asset appreciation would pay off the capital...!

The equation has since changed and it's not going to happen,even if property did appreciate marginally,the coming spike in interest rates will cancel it in one fell swoop so just sit back and relax because it's going to be a blockbuster when interest rates start climbing.

Estate agents are a dying breed here in the Canary Islands and I can't see it being that much different on the mainland.

Remember,even if the Central Bank rate only goes up 1%,that's an increase of 100%,think about it folks.

Luego chicos y chicas

You lot really are helpful to those trying to sell property.  Why not get the buyers to screw the sellers even more?  With a bit of luck, you can get them to accept a third of what they owe and then help them by pushing them off the roof of their underpriced property before the banks get them!

Yes, there are some good priced properties out there, many for much less than the buyers bought them for but now have to leave as the last government cocked up the economy so much that they can't afford it now that the they are getting a third less for their pensions or whatever.  Why not just pick a property you like, pay a fair price and enjoy.  Or you could take the advice of others on here and really screw up someone's life by getting one for a pittance. Alternatively, just stick a bit of arsenic in the seller's food and all their troubles will then be over.  You might even get cheaper properties, then.

And, no, I don't think it funny that people are being forced to leave when they don't want to.  Any sympathy people expect on problems they have with their property flies out the window when giving advice like this.

bobaol

The market is where it is.

A few years back buyers were being screwed on a rising market. If you could had got EUR20k more you would have added it on and not given it a second thought.

It's simply supply and demand and some overstretched themselves in the good days when all in UK were being told it was their entitlement to have a 2nd home overseas.

But there are some fantastic deals to be had but at the end of the day it's a matter of finding the right property at the right price and one that will stand the test of time.

Also there are a few developments that might be worth a gamble if the price was right. I viewed a development yesterday where properties can be got very cheaply but in-coming owners will have to finish community gardens and deal with a few other problems left behind by developer. It's a development whereby most of the original buyers are in expensive litigation (no bank guarantee - whatever they were?) and in the meantime bank is doing good deals on any property without emabargo. Original contracts go back to 2002 to 2003 and completions have only just started .

Hi Monica

It's not a bad idea to use your contacts rather than go through an agent. We contacted a seller direct and he knocked the money the agent would have got off the asking price. We did negotiate hard, but we were fair as well.

We'd seen the house 2 years previously at 162k euro, which after agents fees etc would have got the seller about £95k. The seller was bringing the proceeds of the sale back to the UK, so we offered him 108,000 euros, which because of the currency changes over the 2 years meant he would get £90k - ie only 5k less than he would have got when he originally put it up for sale. We felt that we'd driven a hard bargain, but that he'd got a good price in a difficult market.

Cheers

I totally agree with you on this one Faro.

When all was well with prices I don't remember owners being too kind to buyers who were struggling to come up with the funds.

As with most investments,it's in the small print ie: "The price can go up as well as down".

With reference to Otivar2010,that's the way it should be done,my hats off to you.

One thing though that is often omitted in the research when buying property is a simple caution:

Property = No Liquidity, so if you're not in it for the long term and think you can just opt out when things go wrong................

Think Again..

why not we pay you to take the property of our hands does that sound ok

Sadly in some cases that's already happening.

Thanks for reminding me about that amigo.

Hi Folks,

I have opened up a can of worms here, I'm not trying to fleece anyone I know what it feels like as it has happened to me with San Jose. But business is business if we all had of sold our properties home or abroad at the height of the property rush then sat on our money and rented we would  be quids in and never have to work again.  But then nobody had a crystal ball to tell us to do that. Most of us have lost .Anyway after my disaster I had to accept it and it was all my savings at that time. It hasnt put me off but made me more cautious, and not to spend beyond my means.

So I should wait then, to be honest I agree with most of your replies.  If I see it and like it ill buy it. So thanks for your posts remember to contact me if ayone is interested in a private sale.