The truth or lies?

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06 May 2014 7:49 PM by batbrit Star rating. 29 posts Send private message

A certain online site is offering bank repossions at 25% off their usual prices until 15th May 2014.

They say they cannot take offers on any of the properties now as 25% off has alrealdy been applied.

Questions: In the UK an estate agent HAS to put forward your offer - even silly offers to the bank or seller - You can insist - is it different in Spain?

Can I bypass the agent and go direct to the bank if they refuse my offer and if so where would I find the bank who has taken posession of the property to lodge my offer?

The prices are good but kitchens have been ripped out etc so a fixed price system seems a bit off. Is it the bank who are dictating the lowest offer & instructing the agents?

Any info gratefully received.

 





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06 May 2014 8:49 PM by blueeyes Star rating. 64 posts Send private message

Oh dear batbrit. I'm seriously beginning to doubt that Spain is the place for you.



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06 May 2014 9:31 PM by batbrit Star rating. 29 posts Send private message

No I love Spain, the cities, people, food why would you say that?

Buying property is a big deal for most people else you would not have 10000's of ex-pats in the mess they are in & wanting to come 'home' - not all but it's a good %.

Asking as many questions in my book is correct unless you have very deep pockets blueeyes.

These are forums are they not?

Oh dear indeed!





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06 May 2014 10:37 PM by Team GB Star rating. 1245 posts Send private message

Team GB´s avatar

Batbrit

Earlier you were talking about spending 20k euro on a property whilst in the same breath enquiring about wealth tax!!

You can bearly get a decent car for that!!

I shouldn't agonize for too long



_______________________

 

 




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06 May 2014 10:54 PM by batbrit Star rating. 29 posts Send private message

OK not to dwell on my personal life, the 20K is a bolthole as if you read my previous posts I intend to sell up & spend 500 to 600k eventually selling the flat 20 to 30k by the way to a Spanish person preferably even if I make a loss.

Make sense now? Please if you can't contribute I really don't need your input - it's making you troll-like. Sorry to be honest but I'm asking questions......that's called communication. We humans do this often.

At the start of my overs I said I was green. Now not so much (thanks to others) but I like to know in advance as I now know very well the problems with Spanish paperwork, the lack of online facilities & the iissues this can bring. To be honest, and I know a lot will agree with me here, the Spanish need to up their game with regards to paperwork & the electronic lack of - this is the 21st Century & Spain has a lot of talent, 50+% youth unemployment & 25%ish adult unemployment so I feel this is totally possible & a streamlined system (in all their form-filling systems) would go a long way to help their current situation. Have you any ideas yourself as to how to help Spain?

Once I am in Spain I will learn & integrate & help in any way I can. This will include answering questions on EOS to those less initiated.

Thus if anyone with (any) nous who can answer my original question I submitted on this thread I would be grateful. Much less than answering questions as to my financial or personal motives which are not the theme here. Thanks!

 


This message was last edited by batbrit on 06/05/2014.


This message was last edited by batbrit on 06/05/2014.


This message was last edited by batbrit on 06/05/2014.



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07 May 2014 9:04 AM by claire T Star rating in Torremendo, Orihuela. 688 posts Send private message

EOS Supporter

Hi Batbrit - here in Spain nothing is ever simple.  The banks are an absolute nightmare to deal with and that is why many choose to go through an agent, as they will have more information about the way the particular bank behaves.  You can go direct if you want to, but you will have to find every individual bank website and then try to deal with them, usually in Spanish.

I have sold several bank properties and some of the banks do tell their authorised agents what their minimum offer is, and that is not published on their websites.  So an agent could be saving you time and hassle by letting you know that a particular offer is not acceptable.  Often a bank will take a month or so to let you know their decision, by which time you may have missed out on something else.

As for prices, you can take that with a pinch of salt.  I have dealt with a particular development for the past three or four years, where the banks have several properties.  At one point they were willing to accept 40k but now their "special offer" is over 76k.  They will negotiate a little on this, but their minimum is still way over the 40k.  In my opinion they are wonderful houses which were originally 150k, but you would need to judge what is a good price for you in the current market.

My advice, for what it is worth, is to look at the price not in terms of a "special offer" but in terms of what you think it is worth.  Do some digging, check out the area and what else is there and at what price.  Come out and look and talk to the neighbours.  Talk to agents and maybe you will find one you feel you can trust.  Look at resales too, as they are often cheaper than the bank repos!

There are still a few real bargains left, but you do need to know what you are doing and you absolutely need a lawyer to check all the paperwork, as the banks really don´t check and don´t care either.

Happy hunting!



_______________________
Claire



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10 May 2014 1:12 PM by batbrit Star rating. 29 posts Send private message

Thanks Claire for the good info.

I have been getting a lot of info regarding the housing situation in Spain from YouTube which were a bit depressing in parts too. I understand there's a lot of squatting due to the banks' insistance on keeping properties empty too. To be honest I don't blame the squatters as the banks have a lot to answer to as do local (don't know the word) but decision makers who allowed building on rural areas only to be overruled, etc.

I hear the King's daughter is still being procecuted for money laundering so why not the banks or those who took backhanders for illegal building? Looks like a social bubble is about to pop in Spain. Still interested though - nowhere's perfect!

 





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DISCLAIMER:  All opinions posted on these message boards are the opinion solely of the poster and do not necessarily reflect the opinion of Eye on Spain, its servants or agents.


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