chrissyking35

hi. has anyone heard of or tried house exchange. i have a house in england with no mortgage and am looking to exchange it for similar price property in spain. any advice appreciated.

snikpoh

... you'd still have all the taxes to pay though.

But in the current climate this may be option for someone.

Unmutual

There's definitely Brits who want to go back or have gone back, who have properties they want to dispose of here.
Of course a lot depends on the locations and values of both, and getting a perfect match.
May be worth you giving some more information on your current situation and the ideal location you'd like in Spain.

agoreira

Agree, and therein lies the rub, I could forsee all sorts of problems. It's possible of course, but it's a very long shot, and if you have to pay all the taxes anyway, wouldn't it be easier to sell your property in UK first and buy exactly what you want in Spain?

Unmutual

Very little seems to be moving either end.....basically because a lot of the Spain market depends on houses selling in the UK. And it's not happening.

There's a lot more demand from Northern Europeans though....Dutch, Belgians, and Germans....because they're in the Eurozone so poor exchange rates don't apply to them.

And that's the other consideration.....Brit sellers here still cling to unrealistic pricing levels despite the fact that even though they will have lost out on paper, it'll even itself out to some extent when they convert back to pounds.

Really, it needs people to be realistic and flexible on both sides if property exchange is being considered. If one is, and the other isn't, then it's not going to happen.

Rotor

Where and what type of house?

scampicat

If our house sale does not complete, I will get back to you.

jay01

I really do think for some people it could be an option, but a house valued at say 140 would be equal in value to what price of property in Spain. But at the end of the day to protect yourself can you get an independent valuer either end to give you their price consideration or is that something only do when applying for a mortgage.

Friend of mine is buying a place in Spain, she fell in love with a house priced at 120, she is going for a small mortgage so it had to be valued by the bank, the valuer has valued the property at 85, that is a big difference to asking price, needless to say she has offered the valuers price.

The currant owners then wanted 100 but my friend is standing firm, as she says if the valuer thinks it is only worth 85, it s worth 85 not 100 they need to sell more than she needs to buy, so all she can do is wait.

Fred James

In Spain, official valuers always undervalue the property by a significant amount.

chrissyking35

i know both houses would have to be independently valued, and i am prepared to be flexable on the price. i have 2 properties in england. one has just been valued at £130,000 and the other at £300,00. we thought we had sold the £300,000 one, but unfortunately the buyers mortgage was declined. it's so difficult for people to get mortgages here in england, that is why i have been looking into property exchanges. i know both parties would have to be very careful and have solicitors, valuers etc, just the same as a normal sale. there seems to be so many people wanting to come back to england, god knows why cause the country is in a mess. i just thought it may be a way of us moving to spain more quickly and also a family in spain getting back to england. lots of research to be done, i know.

chrissyking35

hi. in answer to rotor.....one house is a semi detached cottage in silverdale, staffordshire. a small village in the midlands. the cottage is 100 years old and was totally renovated 2 years ago. every thing brand new. kitchen, cooker and hob, all tiling and bathroom and cloakroom fitting, new boiler, gas fire etc. all new plaster work throughout. very large gardens and in a very small quiet cul de sac. this is the one at £130.00. the other property is a large detached bungalow. about 30 years old.
this is in a place called westbury park, clayton, staffordshire. in immaculate condition and again with very large gardens. if there is any thing else you would like to know just let me know.

chrissyking35

in answer to scampicat...thank you. i hope your sale goes through ok, but yes, get in touch if any problems.

Michael74

chrissyking35. You haven't said what type of property you would consider in Spain. Do you want to live on the beach, inland, in a village or town, what about type of property, apartment, townhouse, villa etc.? Also I often wonder when it comes to an exchange, what is more important, the price or the fact that you would like the property that is offered for exchange, i.e. location etc.?

Rotor

Know it well,once had a house in Meir Heath! What are you looking for ?

chrissyking35

sorry for not explaining what we are looking for. definitely not coastal. rural inland detached property with no close neighbours. don't mind if it is pretty isolated. small amount of land with room for a pool. at least 2 bedrooms. tarragon or Valencia area would be great, but pretty flexible on region. i don't mind if the property needs some cosmetic work as long as not a ruin. open to all ideas.