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Property sales at present time

Posted: Thu Jul 30, 2020 4:02pm
50 replies3821 views20 members subscribed
CBev

Posts: 22

12 helpful points

Joined: 18 Jul 2020

Hi everyone, I joined your forum recently and this is my first post.  My name is Catherine and my husband and I originally decided to buy a holiday home but this has now changed to a retirement home.  We are in our mid 50's and currently live in Ireland.  We have been looking at properties in the San Miguel de Salinas area and nearby for some time now.  I have, maybe foolishly, fallen for a property in San Miguel but we cannot travel to visit at present.  I am wondering if you can tell my what the property market is like at present as estate agents, are obviously, encouraging us to buy.  We are worried about making an offer that could be accepted and then have to close the sale without being able to physically visit, and we would be dependent on the integrity of all concerned so that we would not be taken advantage of.  But I am dreading seeing 'my house' sold...and not to me!!!  Can you tell us if the markets have slowed down due to coronavirus and also advise us on gated community areas as my husband is quite keen to live in a community where we will be able to have privacy but also be able to socialize etc.  Thanking you in advance for your help and also thank you for your very informative posts which have been great help to us.  We are really looking forward to relocating in the near future

RobScot

Posted: Thu Jul 30, 2020 4:40pm

RobScot

Helpful member

Posts: 201

231 helpful points

Location: Benimar

Joined: 10 Apr 2019

Posted: Thu Jul 30, 2020 4:40pm

Even before the virus it was a buyers market due to the number of properties on the market and the threat of Brexit looming. Now with the house builders continuing to build new houses I don’t see that changing anytime soon. In my experience (we moved to Spain just over 18 months ago) I would never even consider buying anything until you have visited it, looked around the local area, spoke to potential neighbours and looked at other properties. Do not let estate agents scare you into making any rash decisions, if you don’t get this one there is every chance another similar one will be come on the market soon!

craig245t

Posted: Thu Jul 30, 2020 5:35pm

craig245t

Helpful member

Posts: 234

223 helpful points

Location: Playa Flamenca

Joined: 13 Apr 2018

Posted: Thu Jul 30, 2020 5:35pm

As Robscot said above, don't fall for the scare tactics.

We bought 2 years ago and were told several times that the property had been viewed and the potential buyer had gone to think it over. Or it's being viewed tomorrow......it's amazing the pressure that can out you under even when the voice in your head tells you it's a sales tactic.

Have you got a lawyer, NIE number and bank account, you can't buy property without these.

I would NEVER pay a deposit to a selling agent., only through your lawyer. Even then, if you pay a deposit without viewing and hate the house, area etc you lose the lot.

Good luck👍👍

Craig

CBev

Posted: Thu Jul 30, 2020 5:48pm

CBev

Original Poster

Posts: 22

12 helpful points

Joined: 18 Jul 2020

Posted: Thu Jul 30, 2020 5:48pm

RobScot wrote on Thu Jul 30, 2020 4:40pm:

Even before the virus it was a buyers market due to the number of properties on the market and the threat of Brexit looming. Now with the house builders continuing to build new houses I don’t see that changing anytime soon. In my experience (we moved to Spain just over 18 months ago) I would ne...

...ver even consider buying anything until you have visited it, looked around the local area, spoke to potential neighbours and looked at other properties. Do not let estate agents scare you into making any rash decisions, if you don’t get this one there is every chance another similar one will be come on the market soon!

Hi Rob,

Thank you for your reply.  It is great to get input from those who are actually living there.  In my head I know that we should wait but you always wonder if you should follow your heart.  But like everyone we cannot afford to lose everything we have worked for.  We will fly over as soon as it is safe and spend a week getting everything in order and then proceed from there.  It is good to know that there are numerous properties in the area as I was judging it on the Irish property market where it is extremely difficult to buy and the good ones go very quickly.  

Thanks again,

Catherine

CBev

Posted: Thu Jul 30, 2020 5:52pm

CBev

Original Poster

Posts: 22

12 helpful points

Joined: 18 Jul 2020

Posted: Thu Jul 30, 2020 5:52pm

craig245t wrote on Thu Jul 30, 2020 5:35pm:

As Robscot said above, don't fall for the scare tactics.

We bought 2 years ago and were told several times that the property had been viewed and the potential buyer had gone to think it over. Or it's being viewed tomorrow......it's amazing the pressure that can out you under even when the voice in your head tells you it's a sales tactic....

...

Have you got a lawyer, NIE number and bank account, you can't buy property without these.

I would NEVER pay a deposit to a selling agent., only through your lawyer. Even then, if you pay a deposit without viewing and hate the house, area etc you lose the lot.

Good luck👍👍

Craig

Hi Craig,

As with the reply to Robscot thank you for your advice.  I do feel more settled now and we will just wait this out with the rest of the world and hope to be able to travel safey soon. We will look forward to spending time there and getting everything sorted before our move.  Nice to hear from people who have moved there and purchased property.  

Thanks again

Catherine

Rustyruss67

Posted: Thu Jul 30, 2020 6:48pm

Posts: 46

32 helpful points

Location: Villamartin

Joined: 2 May 2018

Posted: Thu Jul 30, 2020 6:48pm

Hi bev definitely “ try before you buy” as they say, w are having a house built in la Canada which is just outside San Miguel on the way to Villamartin, we visited many times to find the area that suited us, ours is a year build starting in September and at the moment it’s only a few weeks behind schedule, as others have said there are always plenty of properties available and if you don’t get this one you will find another to your taste. Good luck and maybe we will see u out there one day 

Robbie74

Posted: Thu Jul 30, 2020 8:51pm

Posts: 2

5 helpful points

Joined: 13 Jan 2020

Posted: Thu Jul 30, 2020 8:51pm

Im Irish too and have an apartment about 20 minutes from San Miguel. I bought at the top of the market and unfortunately wouldn't get anything like what I paid for it if I were to sell it. 

A lot of people rent in an area that they like and it will either confirm that you like the area or put you off. Talk to the locals walk around day time night time etc.

Prices are definitely not going to rise more than likely the opposite. Unless its a one off special house the chances are another house in the same development will come up for sale sooner or later.

You should view houses at least twice before you put in an offer. 

Best of luck

Robbie 

CBev

Posted: Thu Jul 30, 2020 9:20pm

CBev

Original Poster

Posts: 22

12 helpful points

Joined: 18 Jul 2020

Posted: Thu Jul 30, 2020 9:20pm

Hi everyone,

Omg thank you all so much for taking the time to reply and for your advice.  We will definitely wait and take some extended time to visit and decide then. It is difficult for us even without coronavirus to travel as at present we are a foster family of four, and three of them are under 4 years old!! This may be the main reason to panic buy for me!!! We will soon be in a position to move and between the fab replies and from reading other posts on this forum, I am so looking forward to moving and making friends and enjoying life.  Hopefully, we will get to visit soon and I will keep you posted about what happens and invite you all to the house warming!

Best wishes to you all

Catherine

craig245t

Posted: Thu Jul 30, 2020 9:53pm

craig245t

Helpful member

Posts: 234

223 helpful points

Location: Playa Flamenca

Joined: 13 Apr 2018

Posted: Thu Jul 30, 2020 9:53pm

This post that was quoted has been deleted.

This used to be a common scam I believe. A friend of my dads "bought" a property in Marbella that had just been sold to someone else. I took him a while and a chunk of money to get out of that mess.

I believe the loophole that allowed that scam was closed though.

Kelvin1960

Posted: Thu Jul 30, 2020 9:59pm

Kelvin1960

Very helpful member

Posts: 850

886 helpful points

Joined: 5 Mar 2017

Posted: Thu Jul 30, 2020 9:59pm

My brother-in-law bought a holiday home here last summer, for a fair and reasonable price.

He might need to sell it now (I won't share the reasons).

So, 3 days ago, my wife and I popped to our local "well-known-British" Estate Agent's office .... closed .... now an insurance broker .... it is as if it had never been there.

So we tried the office in the next town .... same story.

So we went to a Spanish Agency. A hew hours later, their representative met us at the house, and then gave us a written assessment. He is looking at a 28% loss (before agency fees and legal fees) in a year. But, some reassuring news ... the agency fee would stay the same, even if it takes 3 years to sell the house !

The explanation ?    ..... Covid, fear of flooding, Brexit. 

I don't think buyers are queuing up.

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