Placing an offer on a resale
#1
Smarties
Thread Starter
Joined: Jan 2007
Location: Liverpool, soon to be Hondon De Las Nieves
Posts: 238
Placing an offer on a resale
Is there a figure resales are generally overpriced by in Spain that the seller expects to be knocked down to ie 10% of the asking price. Here in the UK our agent is mentioning 3-5% of the value is normal Not for me it aint. I have heard that spanish resales are generally up for a fixed price with no room to move but that sounds a bit rigid to me. Have you haggled a discount on a resale in the past?
Cheers all
Cheers all
#2
Re: Placing an offer on a resale
Is there a figure resales are generally overpriced by in Spain that the seller expects to be knocked down to ie 10% of the asking price. Here in the UK our agent is mentioning 3-5% of the value is normal Not for me it aint. I have heard that spanish resales are generally up for a fixed price with no room to move but that sounds a bit rigid to me. Have you haggled a discount on a resale in the past?
Cheers all
Cheers all
I would always go in with a much lower offer so there is room to increase and meet half way
#3
Re: Placing an offer on a resale
Is there a figure resales are generally overpriced by in Spain that the seller expects to be knocked down to ie 10% of the asking price. Here in the UK our agent is mentioning 3-5% of the value is normal Not for me it aint. I have heard that spanish resales are generally up for a fixed price with no room to move but that sounds a bit rigid to me. Have you haggled a discount on a resale in the past?
Cheers all
Cheers all
I think the general rule of thumb is that if the seller is Spanish THEY WON´T BUDGE AN INCH! and they will want lots of black money from you.
If the seller is British/foreign they tend to have the mentality of 'everything is negotiable' so you have more flexibility with them. And they are less likely to ask for black.
I´m going to put in an offer at asking price today on a property I have seen (have had 3 previous offers rejected on this and other houses in the area, and they have been sold from under my feet).
I am only half expecting the seller to agree to sell the property at asking price, the other half of me is expecting the price to go UP!
#4
Forum Regular
Joined: Feb 2007
Posts: 108
Re: Placing an offer on a resale
Hi Keith
You are not alone ! We have been trying to purchase a property for 16 months ! We are now on our 3rd "attempted" purchase
Our first attempted purchase was "off plan" and after a 6 months we were advised by our Lawyer not to proceed as he was not happy with the developer, lack of licences etc.
Our second attempt was a property that had been reformed, "everything is fine" said the agent, all paperwork spot on ! - yeah right !
It turn out the vendor did not have any licences for all the major reconstruction that had been carried out including the pool !
3rd property, again an older property that had been reformed nearly 20 years ago again- "paper work - no problem" we were told. Sitting here 3 months later still trying to purchase - property needs a Declaration de obra Nueva and has to be registered in the land registry. Maybe we have been unlucky I don't know. Watching Mr & Mrs Buyer on Spanish property programmes viewing 4 properties, purchasing one and sitting in THEIR property 10 days later sipping wine, really does my head in !
Sorry back on topic - with regard to placing an offer on a resale, although the 3rd property had been up for sale for a year, they still wanted the full asking price, eventually they accepted an offer 3% less after lots of haggling !
Happy days
Ambre
You are not alone ! We have been trying to purchase a property for 16 months ! We are now on our 3rd "attempted" purchase
Our first attempted purchase was "off plan" and after a 6 months we were advised by our Lawyer not to proceed as he was not happy with the developer, lack of licences etc.
Our second attempt was a property that had been reformed, "everything is fine" said the agent, all paperwork spot on ! - yeah right !
It turn out the vendor did not have any licences for all the major reconstruction that had been carried out including the pool !
3rd property, again an older property that had been reformed nearly 20 years ago again- "paper work - no problem" we were told. Sitting here 3 months later still trying to purchase - property needs a Declaration de obra Nueva and has to be registered in the land registry. Maybe we have been unlucky I don't know. Watching Mr & Mrs Buyer on Spanish property programmes viewing 4 properties, purchasing one and sitting in THEIR property 10 days later sipping wine, really does my head in !
Sorry back on topic - with regard to placing an offer on a resale, although the 3rd property had been up for sale for a year, they still wanted the full asking price, eventually they accepted an offer 3% less after lots of haggling !
Happy days
Ambre
#5
Re: Placing an offer on a resale
Anyone know of a website or Agency that deals with re-sales only?
#6
Re: Placing an offer on a resale
In my experience of trying to buy from Spanish vendors they will not budge on price..will probably raise the price because you are interested, but will be prepared to wait two or three years to sell at the asking price and then say to you, you see I did get what I was asking for, despite the fact that the market has increased anyway...whaaaats all that about..
#8
Forum Regular
Joined: Nov 2005
Posts: 94
Re: Placing an offer on a resale
Is there a figure resales are generally overpriced by in Spain that the seller expects to be knocked down to ie 10% of the asking price. Here in the UK our agent is mentioning 3-5% of the value is normal Not for me it aint. I have heard that spanish resales are generally up for a fixed price with no room to move but that sounds a bit rigid to me. Have you haggled a discount on a resale in the past?
Cheers all
Cheers all
I personally would put a ridiculous offer in to start with and take it from there.
At the end of the day, they can only say 'no', as unfortunately Keith is experiencing. Here on Costa del Sol I doubt that many buyers would find themselves in a similar situation to Keith.
#9
Re: Placing an offer on a resale
Is there a figure resales are generally overpriced by in Spain that the seller expects to be knocked down to ie 10% of the asking price. Here in the UK our agent is mentioning 3-5% of the value is normal Not for me it aint. I have heard that spanish resales are generally up for a fixed price with no room to move but that sounds a bit rigid to me. Have you haggled a discount on a resale in the past?
Cheers all
Cheers all
Phew Smarties! When I saw the title of this thread I thought you had already seen a re-sale you wanted - thought "that's bloomin' quick!"
#10
Joined: Dec 2006
Posts: 5,359
Re: Placing an offer on a resale
That's exactly what I thought Lionda, goodness smarties I had to think if you had mentioned any where that you were planning to come back over here and that you found your dream house on a flying visit. I was all excited there for a moment.
#11
BE Enthusiast
Joined: Mar 2007
Location: España
Posts: 728
Re: Placing an offer on a resale
One property we saw, the agent even admitted that the €315k asking price "should have been more like €240k".
In the UK it's quite simple - your try to see as many properties as possible in the area, and compare "like for like". In Spain, there is this rustic / urbanised land issue plus the million and one other legal / services issues that sometimes appear to matter and sometimes appear to not... so you're often not comparing like for like.
#12
Smarties
Thread Starter
Joined: Jan 2007
Location: Liverpool, soon to be Hondon De Las Nieves
Posts: 238
Re: Placing an offer on a resale
Hehe, sorry Lionda/crispygirl I guess it did read that way. I will be riding over there soon on my motorbike with my tent and sleeping bag (derbyflan you got my sleeping bag lol) and will have a good look around at some resales then. It will be a nice break as well as sleeping rough on a bike tour of Europe has always appealed to me No work, bike and open roads woopee dooo
#13
Banned
Joined: Feb 2007
Location: Hoping to get away from UK to Spain
Posts: 1,826
Re: Placing an offer on a resale
Hehe, sorry Lionda/crispygirl I guess it did read that way. I will be riding over there soon on my motorbike with my tent and sleeping bag (derbyflan you got my sleeping bag lol) and will have a good look around at some resales then. It will be a nice break as well as sleeping rough on a bike tour of Europe has always appealed to me No work, bike and open roads woopee dooo
#14
Joined: Mar 2007
Posts: 10,551
Re: Placing an offer on a resale
Hehe, sorry Lionda/crispygirl I guess it did read that way. I will be riding over there soon on my motorbike with my tent and sleeping bag (derbyflan you got my sleeping bag lol) and will have a good look around at some resales then. It will be a nice break as well as sleeping rough on a bike tour of Europe has always appealed to me No work, bike and open roads woopee dooo
#15
Re: Placing an offer on a resale
I have just got confirmation after two failed attempts at buying a resale that my offer has been accepted on the third.
The seller has accepted asking price from me, but only on the condition that the kitchen isn´t included, so he is going to take that with him. If I had wanted the kitchen then the house would have been 4000 euros over asking price.
Oh well. Let´s see how rocky the rides gets from here on in.
The seller has accepted asking price from me, but only on the condition that the kitchen isn´t included, so he is going to take that with him. If I had wanted the kitchen then the house would have been 4000 euros over asking price.
Oh well. Let´s see how rocky the rides gets from here on in.