|
At what price
how much under asking price to offer in spain
|
Re: At what price
Do you have a piece of string?
|
Re: At what price
Originally Posted by tysondream
(Post 11567100)
how much under asking price to offer in spain
Rosemary |
Re: At what price
Just work out the price per M2 and compare that with similar properties at the same location to establish whether it is a good price.
|
Re: At what price
Sorry for hijacking the thread
Is having the money ready, without needing to apply for mortgage, a valid reason for asking for 5-10% price reduction? Or people just don't care? |
Re: At what price
Not likely to matter. The money ends up in the sellers hands either way.
However, instant cash has a certain appeal. Especially if a good chunk of it can be cash. |
Re: At what price
When you watch A place in the sun, they seem to think that 30-40% under asking price is acceptable.
As someone selling my house, I would tell them in no uncertain terms, to take their insulting offer, and put it somewhere to grow a bit! |
Re: At what price
Originally Posted by Dr. A.Gon
(Post 11567274)
Sorry for hijacking the thread
Is having the money ready, without needing to apply for mortgage, a valid reason for asking for 5-10% price reduction? Or people just don't care? |
Re: At what price
Originally Posted by Neptuno
(Post 11567289)
When you watch A place in the sun, they seem to think that 30-40% under asking price is acceptable.
As someone selling my house, I would tell them in no uncertain terms, to take their insulting offer, and put it somewhere to grow a bit! The agents response was " well it is up to you but if you do not want to sell your apartment etc etc. A few weeks ago they accepted an offer through another agent of E152,000. Too many agents seem to have forgotten who they are working for!! You have to ask who is encouraging low offers ?? |
Re: At what price
We had our apartment on at 149,000 with our bottom line 130,000.
Eventually we had a bottom line offer from some Dutch people. They then asked about the possibility of a garage. We told them a garage to buy would be circa 12,000 in Frigiliana. They then reduced their offer by 12,000. We told them to go away and reproduce, not buying them a garage. |
Re: At what price
Originally Posted by tysondream
(Post 11567100)
how much under asking price to offer in spain
if the former then the actual value will be much less;) |
Re: At what price
Originally Posted by EMR
(Post 11567391)
Too many agents seem to have forgotten who they are working for!!
You have to ask who is encouraging low offers ?? A lot of properties are "valued by committee" of family owners who inherited it and have an inflated sense of value, with zero understanding of actual market value. Some add sentimental value to the price (e.g., "my grandfather built this house!"). It can also be that family members who own the property can't agree on a selling price, so they list it for the highest price that all family members can agree on. In other cases, it's to avoid appearing "desperate" to their peers. After all, Gonzales' down the road sold their grandmother's house listed for €500K (but in truth they ultimately settled for an offer of €220K, and they simply neglected to mention that part). And there's always a few "know it alls" that are certain that they are the only ones on the planet who know the value of their property. Everybody else is an idiot. A good agent should and will advise the seller that it's a completely unrealistic valuation. But that advice often lands on deaf ears, and the property sits empty with zero viewings - for years in many cases. The agents, therefore, have no interest in showing the property, because they know it won't ever sell (complete waste of their time). Some time ago, some acquaintances of ours listed a house up for about double it's actual "sellable" value. It sat on the market for about a year, and out of curiosity, eventually I sent an email to the agent expressing interest, mentioning that the price seemed unusually high. The agent simply responded with another similar property, more rationally priced. Whose fault is that?
Originally Posted by MikeJ
(Post 11567436)
Depends if you have been quoted the 'guiri' price or the Spanish price.
if the former then the actual value will be much less;) What Rosemary said is equally true - Many Spanish people just have a price, and that's their price - even if it means they'll never sell it. |
Re: At what price
Originally Posted by amideislas
(Post 11567622)
What Rosemary said is equally true - Many Spanish people just have a price, and that's their price - even if it means they'll never sell it. In the UK there is a housing ladder so people might need to sell because they are expecting a new baby or they have been offered a job somewhere else This is rarely the case in Spain. People tend to buy a property and just keep it until they might die or they "could do with releasing the money" without actually needing it So people would rather wait and wait and wait than sell for an "insulting" price at what they perceive to be the bottom of the market |
Re: At what price
Originally Posted by amideislas
(Post 11567622)
I sense this is only an agent being rational about the valuation of a property, in the absence of any rationality.
A lot of properties are "valued by committee" of family owners who inherited it and have an inflated sense of value, with zero understanding of actual market value. Some add sentimental value to the price (e.g., "my grandfather built this house!"). It can also be that family members who own the property can't agree on a selling price, so they list it for the highest price that all family members can agree on. In other cases, it's to avoid appearing "desperate" to their peers. After all, Gonzales' down the road sold their grandmother's house listed for €500K (but in truth they ultimately settled for an offer of €220K, and they simply neglected to mention that part). And there's always a few "know it alls" that are certain that they are the only ones on the planet who know the value of their property. Everybody else is an idiot. A good agent should and will advise the seller that it's a completely unrealistic valuation. But that advice often lands on deaf ears, and the property sits empty with zero viewings - for years in many cases. The agents, therefore, have no interest in showing the property, because they know it won't ever sell (complete waste of their time). Some time ago, some acquaintances of ours listed a house up for about double it's actual "sellable" value. It sat on the market for about a year, and out of curiosity, eventually I sent an email to the agent expressing interest, mentioning that the price seemed unusually high. The agent simply responded with another similar property, more rationally priced. Whose fault is that? I don't believe the 'guiri' price is always a conscious, deliberate effort. I sense it's more an inflated value for the sake of inflated value (as illustrated above). It just so happens that naive foreigners fall for it most. What Rosemary said is equally true - Many Spanish people just have a price, and that's their price - even if it means they'll never sell it. In this case another apartment not as old or as large sold earlier for E145,000. I do not blame anyone for making what appears to be a silly offer but rather the " take it or leave " atitude of agents. Who appear to be encouraging low offers because as we know NO SALE., NO COMMISSION. The structure of the property market does not encourage agents to seek the best price for their customer. |
Re: At what price
Originally Posted by EMR
(Post 11567656)
The structure of the property market does not encourage agents to seek the best price for their customer.
It isnt really the fault of the estate agent. 80% of them have gone bust since 2008 so actually those that survived must be doing something right |
| All times are GMT. The time now is 7:16 am. |
Powered by vBulletin: ©2000 - 2024, Jelsoft Enterprises Ltd.
Copyright © 2024 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.