Property sales at present time

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!

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 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

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

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 

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 

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

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.

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.