Purchasing cheap house in Spain
 

What is the best way to purchase a house in Spain? I am a kind of purchaser who does not need a house or apartment in Spain. But, I would purchase it right away if it would be offered for the very low price. Where could be found 'the offers nobody would refuse'.

We read that apparently Spanish economy has difficulties and that there is a sreious decline in housing sale prices..... I do not believe such stories. If you find the announcement someone is selling a house, the asking prices are those of 2008.

Isn't it contradictory? People are apparently ready to sell the house at a very low price, but the asking prices are too high.

Is there any serous internet site where people can find serios offers which need to be accepted quickly, for cash and without too much discussion?

Re: Purchasing cheap house in Spain
 

There are some estate agents with "distressed property" sale type sections on their websites...only one that I've seen would seem to be real distressed sale prices tho.
In the expat magazines etc you will sometimes see property for sale by owner ads where they state they are open to virtually any offer.
A desperate-to-sell acquaintance just recently tried a 10 day "sale" on her property, offering it (for that time period) at a greatly reduced price. Don't know the outcome tho!
There is an auction house down on the coast, Malaga way, that must have a huge list of properties owned by people who are truly desperate to sell, may be worth contacting them?

Re: Purchasing cheap house in Spain
 

what every the price is drop it 30,000 euros

Re: Purchasing cheap house in Spain
 

Hi

You are living in a "pipe dream". All estate agents made so much money in the last few years, that if a bargain should come along they will snap it up.

They may also (cross their palm with silver) have a few good friends that they will pass the information onto. You, as a member of the general public, will never get a look in.

Dave (toungue firmly in cheek)

Re: Purchasing cheap house in Spain
 

Google Sunshine propertys cadiar". Loads on offer there and great people to deal with.

Re: Purchasing cheap house in Spain
 

One thing to bear in mind is that the spanish property market is not like the british one. If you assume it is, then you are risking a lot.
For example, a lot of the houses apparently "for sale" are not actually lived in. They've been inherited from dead relatives, or simply abandoned as people moved from inland Spain where they worked the land, for a pittance, to the coast where pay is much better - don't laugh, during the 70's, 80's & 90's this was the case.
As a consequence, there is not the same pressure to sell as there is in the UK market, where people only own the one house they live in and can't move on until they sell it. This means that, while the sellers would be happy to make a sale, they are not as desperate as UK sellers and will therefore hang-on until they can get the (possibly unrealistic) price they want. It's not uncommon for a house to remain up for sale for many years.
Add on to that the taxes and estate agency fees and it means that just to get you money back (after taking all the costs of selling into account) you have to sell for a significant percentage, over 10% more, than you paid.

Also in the UK, the supply vs. demand balance means that the number of people who want to buy houses outweighs the number of new houses being built. That in itself is enough to push up the price over the long term. Spain does not have the same dynamic; as land is cheaper, there is much less NIMBY-ism to new developments and people in their 20s are much more willing to live with their parents.

However, if you want a cheap house, I know of a really good one ... :eek:

Re: Purchasing cheap house in Spain
 

They say the cheapest properties in Spain are to be found in the province of Lugo and most of the community of Extremadura.

Re: Purchasing cheap house in Spain
 

You posters may be wasting your time, check out his previous posts and not one reply from him on any of the countries he has posted this on.

Re: Purchasing cheap house in Spain
 

My friends recently moved over here and bought through spanishpropertyclearance.

They seem to have some very cheap property in the Costa Blanca Costa Calida area.

Other agents seem to have the odd cheap property but nothing seems to be selling at present and it's worrying considering we are at the start of the house buying season!

Re: Purchasing cheap house in Spain
 

Very observant jdr

Re: Purchasing cheap house in Spain
 

hi there there a bargines to be had in the right areas. heres a estate agent for you he is in almeria.in a village called sorbas www.spanishfarmhouses.com we bought are property with him 3yrs ago he is a nice chap and very helpfull .helen

Re: Purchasing cheap house in Spain
 

So, it looks like there is no any Spanish internet site similar to British www.propertysnake.co.uk

The search at www.kyero.com shows that the asking prices are those of year 2008. There is no option to find right away the houses offered for quick sale. May be the stories of the decline of houses prices in Spain are just a myth.

Re: Purchasing cheap house in Spain
 

There is only one way to find out, come over and flash your cash.

Re: Purchasing cheap house in Spain
 

If you were in the INNER property market, you would be aware of "the list"

On average these properties are offered at around 35-45% of a current bank valuation.

"the list" cannot be published or openly promoted. Estate agents are not in the loop as far as these properties are concerned.

To be able to offer "the list", you must be a foreign company who deals with major Spanish banks at President or Vice President level.

These are the properties that fail to sell at open (public auction) and then go on to fail at the second (closed public auction).

It's after these 2 processes that the Pres. & Vice Pres: offer these properties to their family and friends at a tiny fraction of the outstanding mortgages.

However, there are now far too many properties to dispose of under this system, some people, well connected, probably ex estate agents now poses "the list" and are doing very well selling these properties to the real investors who know exactly when and where to buy. They are usually 2-3 years ahead of the crowd and are usually out 2-3 years before the crowd get lumbered with the next falling market.

I know a few people with "the list" not that I would ever get to see it, but they attend several seminars a year in the UK and offer these properties to BMV (below market value) investors.

One day I shall get an invitation to attend, if I can prove my wealth!:zzz:

Re: Purchasing cheap house in Spain
 

It's the mod in him:sneaky:, it will never die;):)