How much to offer to purchase an appartment in Denia? - Page 2

Without seeing the property its impossible to answer the question.

For example, how modern, how stylish, modern or older design, surroundings, etc. How well maintained are the gardens and pool, orientation of the terraces as in what sun is it getting.

What condition, how long on the market, the list is quite long and without knowing the answers its impossible to give a definitive reply.

In your op I believe you said there were several on the market, why, is it a new building, is it bank owned, if not could there be another reason why so many are for sale?

I know the area very well, if you want to share a weblink on a private mail (or here) I might be able to help more.

Best regards, Steve

Good morning,

I’m reading this with a keen interest. So out of curiosity, do property agents get a fixed commission or is there a general percentage say 3% of the sale? Or a fee that is agreed upon amongst the parties concerned? Thanks for your comments.

It's a Spanish mystery. 

3-5% fixed is quite common.

Agents are quite happy to share this if one agent gets the sale before the other when the property is listed with both.

It's a bit like piranhas devouring a piece of fish thrown into a tank in a Bond movie!

I hope one day this is washed away by the equivalent of Purple Bricks but it may be a while...

Steve

I am shocked!   The person us selling a property that you like and want to buy you say that there are other similar properties on sale for the same figure. Why on earth would you think that you could buy it for a lot less?  That programme on channel 4 leads people to believe that they can put in a ridiculous offer and expect to get it. It will be your turn one day snd you will be horrified when someone offers you an insulting sum having spent lots of money to make the place comfortable.  If you want to buy it, buy it. Good luck 

I couldn't agree more, we bought in 2006, height of market and put in 30k more at least. Now best I could expect to sell for is 60 % of purchase price and nothing for extra put into it. I would be insulted if I were offered 30%off my already reduced purchase price. Also we were involved in black market money (only discovered on day of completion) and our deeds show 40k less than we paid (corrupt solicitor). I,m dreading selling up as I know it will be worst experience ever. You are right, put yourself into mind of seller and offer a fair price instead of trying to bleed them dry. You will be the seller too one day. 

Regards 

Pauline 

Thank you everyone here for shedding some light on this topic. Much appreciated.

Best regards 

Chr

If a property is on the market there is nothing wrong with making a fair offer on the property........its the norm. I understand that their are people who take the p**s but essentially offers are what is expected.

I bought my property back in 2012 in Spain which was already at a very good price. It was made clear from the start that there would be no offers accepted...........so in this instance I offered the asking price after doing my research and due diligence. I had to complete this purchase in 2 weeks which was done successfully.

Don't forget some prices of properties were in the boom times so were genuinely over inflated but it's the same old story of supply and demand.

Negative equity is a terrible thing for people if they have to sell. Looking at the thread above, Pauline expects to realise 60% of the purchase price which is a hell of a loss no matter what the value of the property was/is.

As others have said, you need to do the research. 

Firstly it's difficult to comment without knowing the details: Is the realtor the seller, an agent or the builder (new property)? What have similar properties actually sold for? How long has this property been on the market? But at the end of the day be realistic. 

My experience might help explain: 

I bought my original property in 2005, like Pauline hight of the market. After the financial crash in 2008 the market in Spain dropped 30%+. I moved in 2015 putting my property on the market at 85% of my original purchase price, excluding fees & enhancements, hoping to achieve ~80%. I sold within a month at 73%.

BUT the property I bought was on the market at ~60% of it's original sale price AND about 85% of market value. I did make a cheeky offer 5% below the asking price, which needless to say was rejected, but the seller did reduced his price by €1000. 

Paul

Hi Paul

Thank you for sharing. It appears you made good of a bad situation which made total business sense.

Sometimes it's hard to make the right decisions when under pressure of financial constraints.  I've  made plenty of bad ones in the past but hopefully that curve has passed! The problem we have now is we all dont know how the land will lie in the very near future.

If you are happy with your property and you dont need to sell then all will eventually come good in time.....

Just keep the positive vibe going.

Sorry to shock some of you, but as Pauline noted, she can get only 60% of what the paid at the height of the market. I have the feeling some owners are listing at near what they paid, and in this case an offer of 30% less is a good offer (e.g. 10% more than what they would expect to get) . As a buyer, I must think like a buyer and try to make a good investment for my future as it seems real estate will slow with the European economies. I do have sympathy for these sellers, myself having been in the difficult position to sell in a down market, but it is not my intention as a buyer compensate for the misfortune of others.

My objective with my question was to understand what a fair current market offer might be and how to determine if the list price is the price paid at the top of the market or a realistic selling price. When I see the same property on the market for 3 years, I tend to think it is priced a little high.

Also, how do I find out what other properties in the are sold for?  Are real estate agents the only source of this information? In some places you can search for the information online, in others the realtor will give you a printout of recent sales in the area....how might you get this information in Spain/Alicante?

and to help keep positive vibe going....thanks for all the comments and good luck to all you sellers in finding the right buyer!