How much to offer to purchase an appartment in Denia? - Off topic - Denia forum - Costa Blanca forum in the Alicante province of Spain
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How much to offer to purchase an appartment in Denia?

Posted: Sun Dec 1, 2019 11:41am
10 replies707 views7 members subscribed

OK, we found a unit we like near Denia, 300m from the beach....now the difficult part, how much to offer?  I am sure the listing price is negotiable, but by how much. Is there a general guideline?  I realize each situation is unique, but have heard of sellers accepting 2/3 to 70 percent of the asking price for a cash buyer. Will a price this low be taken badly by the realtor or owner? I want to just put a low offer forward but my husband is afraid to offend the seller. 

I'd appreciate ideas, guidance, information on the subject. Thanks!!

tedu

Sun Dec 1, 2019 12:27pm

Posts: 1

Location: Denia

Posted: Sun Dec 1, 2019 12:27pm

How long has the property been on the market - if it’s a year or longer offer way below asking price - if they say no then ask them what their bottom line is 

You never know their situation may be such that they just have to sell. There is a mass of property for sale

forampaleo

forampaleo

Original Poster

Sun Dec 1, 2019 12:54pm

Posts: 14

Location: Javea / Xàbia

Posted: Sun Dec 1, 2019 12:54pm

Hi Tedu, thanks for the repely

I don't know long this property has been on the market,  but there seem to be lots of these units all similar and all priced at 159,000 for a 2br/2ba ...so by way below would you say 30% below?  Or even lower?

In other countries you can search recent sales, but I don't think that information is available to the public in Spain.

Cheers!

Alistair

Sun Dec 1, 2019 1:03pm

Posts: 4

Location: Villamartin

1 helpful posts

Posted: Sun Dec 1, 2019 1:03pm

Hi, like the first post said, find out how long it’s been on the market and what other similar properties  have been selling for! 

When I purchased my property, the previous owner had reduced price for a quick sale, I then put a offer in less, we met in the middle, and I thought great, until the lawyer informed me 3 months later that I was under a tax investigation as it was deemed I had got the house to cheap and not paid enough purchase tax!! Which was already 5 figures!! And they slapped another 2700 euro bill on me!! The lawyer appealed it and won for a smallish charge!! But that caught me unaware!! You don’t here that on a place in the sun😂 

Maybe I was one of the unlucky ones!! But thought I’d share that with you, get a good lawyer (abogados) mines is!!! 

All the best and good luck, it’s worth it in the end

forampaleo

forampaleo

Original Poster

Sun Dec 1, 2019 1:29pm

Posts: 14

Location: Javea / Xàbia

Posted: Sun Dec 1, 2019 1:29pm

Thanks, a good story and hopefully it meant you got a good deal on your place!

I can ask the realtor what similar units have been selling for...but not sure to get a real answer.

Anyone out there know what a 2bd/2ba 65 m2 units in urbanization with OK pool (300 meter to beach) have been selling for?

Jubilado

Sun Dec 1, 2019 5:38pm

Posts: 4

Location: Denia

2 helpful posts

Posted: Sun Dec 1, 2019 5:38pm

Last month I sold a property.  It was in a prime location and I actually became annoyed by the number of silly offers.  Some were made without even viewing inside the place! 

I sold within a month at a good price to a pleasant local couple who took the trouble to discuss a deal.  In essence I gave them a discount on the asking price for the building and in turn they were generous with the amount paid for the contents, which they wanted and I didn't wish to retain.

So possibly thinking beyond the obvious objective?  Including what the vendor is seeking?  A good open conversation with the other party is often very worthwhile.

forampaleo

forampaleo

Original Poster

Sun Dec 1, 2019 6:17pm

Posts: 14

Location: Javea / Xàbia

Posted: Sun Dec 1, 2019 6:17pm

Thank you, point taken. In our case will dealing with the realtor. I was just hoping to get an idea of how much people list above what they expect....10%, 20%, more?

I hope you realize you should pay a lower tax rate on the contents than the plus value of the house?

Jubilado

Sun Dec 1, 2019 7:17pm

Posts: 4

Location: Denia

2 helpful posts

Posted: Sun Dec 1, 2019 7:17pm

Thanks for yours.  Yes I did realise the tax advantage, in fact my solicitor suggested that I produce a complete inventory of the contents to avoid the value being queried, even though it was totally genuine.  The days of the brown envelope being brazenly passed over at the Notary are long gone.

swcoulthurst

swcoulthurst

Helpful member

Sun Dec 1, 2019 7:54pm

Posts: 127

Location: El Campello

50 helpful posts

Posted: Sun Dec 1, 2019 7:54pm

forampaleo wrote on Sun Dec 1, 2019 11:41am:

OK, we found a unit we like near Denia, 300m from the beach....now the difficult part, how much to offer?  I am sure the listing price is negotiable, but by how much. Is there a general guideline?  I realize each situation is unique, but have heard of sellers accepting 2/3 to 70 percent of the asking price for a cash buyer. Will a price this low be taken badly by the realtor or owner? I want to just put a low offer forward but my husband is afraid to offend the seller. 

I'd appreciate ideas, guidance, information on the subject. Thanks!!

Ok. Look at it from the other side. How much would YOU expect to drop in price if you were selling the property. Taking into account properties have dropped by a massive amount over the last few years. If the current owners bought within the last 12 - 15 years they are probably just breaking even, if mot making a loss. I bought my Villa 15 years ago and its probably worth now what we paid, not including the money spent on (in our case) pool, gardens etc.

swcoulthurst

swcoulthurst

Helpful member

Sun Dec 1, 2019 8:38pm

Posts: 127

Location: El Campello

50 helpful posts

Posted: Sun Dec 1, 2019 8:38pm

Don't get me wrong though. 

I would always put in a 'cheeky' offer. All that can be said is yes or no. 

You have to start a negotiation somewhere.

Its a buyers market, depending on the sellers situation. 

Some sellers are just happy to cut and run whilst others have a minimum price they can take. All circumstances are different.

As far as percentages, 10% on a 400,000 property is 40,000 yet on a 90,000 property its only 9,000. There's a chance on the 90k but very slim on the 400K. So look at what your'e willing to pay and not what 'percentage' you should try.

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