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Thinking of buying in La Zenia

Posted: Fri Jul 9, 2021 1:03pm
22 replies915 views9 members subscribed
Russ123

Posts: 22

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Location: Cabo Roig

Joined: 1 Jul 2019

I hope to get out there soon and was wondering how buoyant the market is now?

It was also suggested  to me that I engage a Spanish property expert to make any offer (on my behalf) as they could obtain a lower price than I could. I'm not sure this is the case or is it simply another expense?

Any wiews much appreciated, 

Russ from Ireland 

Lancelot

Posted: Fri Jul 9, 2021 2:05pm

Lancelot

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Posted: Fri Jul 9, 2021 2:05pm

On our small community two places have been bought recently by UK buyers looking for holiday homes. I accept this means nothing in isolation but people are buying.

Use of a negotiator on paper makes sense as long as the conditions are right. The last thing you want is to owe them money without securing a property so the engagement terms would be key. We decided against using one when we bought. Instead we identified more than one property we'd be happy with and offered against each, increasing incrementally until someone accepted. We started at about asking price minus 15% and ended up with 10% off.

Good luck with your search.

Russ123

Posted: Sat Jul 10, 2021 7:06am

Russ123

Original Poster

Posts: 22

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Location: Cabo Roig

Joined: 1 Jul 2019

Posted: Sat Jul 10, 2021 7:06am

Thanks for the info Lancelot. I was thinking 10% below asking price would be about the going rate. No doubt Estate agents would like you to pay the max to enhance their commission. I think I will take my time to best test the waters as I really only get one chance.

Cheers Russ

oadbyman

Posted: Sat Jul 10, 2021 6:50pm

oadbyman

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Posted: Sat Jul 10, 2021 6:50pm

Don't assume that 10 or 15% is the right offer.

I was offered -25% on 2 properties I sold, it allow you to start the process, if they have not had much interest they may will accept especially if you can buy there and then with no messing around.

The 10% reminds me of the first holiday repsaying something similar, I think all traders know the advise and knew they could life there price to allow 10%, away from the holiday area things were much cheaper.

The property is worth what someone will pay, no offers and the value today in the market is Zero.

Make sure you have all the funding and anything else you need in place

John 52

Posted: Sun Jul 11, 2021 11:34am

John 52

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Location: Villamartin

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Posted: Sun Jul 11, 2021 11:34am

oadbyman wrote on Sat Jul 10, 2021 6:50pm:

Don't assume that 10 or 15% is the right offer.

I was offered -25% on 2 properties I sold, it allow you to start the process, if they have not had much interest they may will accept especially if you can buy there and then with no messing around.

The 10% reminds me of the first holiday repsaying something similar, I think all traders know the advise and knew they could life there price to allow 10%, away from the holiday area things were much cheaper.

The property is worth what someone will pay, no offers and the value today in the market is Zero.

Make sure you have all the funding and anything else you need in place

Surely the price ,that the property is up for ,is the right price ,or is this just plucked out of thin air ,very much against what is classed as cheeky offers ,I've watched Homes in the Sun and some of the offers are criminal ,I dont see.why buyers should be paramount 

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Care4

Posted: Sun Jul 11, 2021 2:49pm

Care4

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Posted: Sun Jul 11, 2021 2:49pm

John 52 wrote on Sun Jul 11, 2021 11:34am:

Surely the price ,that the property is up for ,is the right price ,or is this just plucked out of thin air ,very much against what is classed as cheeky offers ,I've watched Homes in the Sun and some of the offers are criminal ,I dont see.why buyers should be paramount 

John52 Buyers are only paramount if you want to sell quickly. However if you can hold on indefinitely your chances of achieving your asking price increase. As for the price the property is on the market for being the correct price, that is only true if someone is prepared to pay it. If the buyers in the current market are unwilling to pay your asking price then its the wrong price.

John 52

Posted: Sun Jul 11, 2021 4:48pm

John 52

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Posted: Sun Jul 11, 2021 4:48pm

Care4 wrote on Sun Jul 11, 2021 2:49pm:

John52 Buyers are only paramount if you want to sell quickly. However if you can hold on indefinitely your chances of achieving your asking price increase. As for the price the property is on the market for being the correct price, that is only true if someone is prepared to pay it. If the buyers...

... in the current market are unwilling to pay your asking price then its the wrong price.

Sorry  disagree, there has to be some mechanism that is used for calculating the value of a property  ,whether its previous price ,inflation rate etc ,I will agree however if you are desperate to sell ,you probably wont obtain best price as too many thieves out there

Lee 03189

Posted: Sun Jul 11, 2021 5:09pm

Lee 03189

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Location: Playa Flamenca

Joined: 26 Feb 2019

Posted: Sun Jul 11, 2021 5:09pm

I could ask €130K for my property which is the same as ones nearby but I have decided to advertise it for €99,950 as priced to sell as we have bought another nearby, anyone want details let me know and I'll message you the link

John 52

Posted: Sun Jul 11, 2021 6:09pm

John 52

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Location: Villamartin

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Posted: Sun Jul 11, 2021 6:09pm

Lee 03189 wrote on Sun Jul 11, 2021 5:09pm:

I could ask €130K for my property which is the same as ones nearby but I have decided to advertise it for €99,950 as priced to sell as we have bought another nearby, anyone want details let me know and I'll message you the link

Well Lee you must have your reasons for the asking price ,but I bet you will still get some bandits trying to cut you ,wish you well

Lee 03189

Posted: Sun Jul 11, 2021 7:30pm

Lee 03189

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Posts: 244

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Location: Playa Flamenca

Joined: 26 Feb 2019

Posted: Sun Jul 11, 2021 7:30pm

John 52 wrote on Sun Jul 11, 2021 6:09pm:

Well Lee you must have your reasons for the asking price ,but I bet you will still get some bandits trying to cut you ,wish you well

Yes John, I will speak to the agent with reference to this, I think most people would like something off and I would like to advertise it for €104,950K ONO and accept €99,950K but the agent wants to put it on at €99,950 to move it quickly, - if that's the case I will be sticking to that price. It's Really Good Value for money for where it is I think it will sell quickly. It's near the Boulevard n 20 Mins walk to the Beaches.

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