Banks as estate agents

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This topic contains 10 replies, has 3 voices, and was last updated by Profile photo of Anonymous Anonymous 7 years, 2 months ago.

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  • #55233
    Profile photo of logan
    logan
    Participant

    http://www.camopportunities.com/
    As a former professional property investor I am intrigued by Spanish banks becoming estate agents. I have had conversations with a few banks recently and these prices they offer are very negotiable.
    I wonder just what margin they are prepared to loose to be rid of a problem since they are offering these properties at previously loan to value levels.
    Given that property taxes have risen recently I cannot see that even these so called offer prices are realistic.

  • #94479
    Profile photo of Anonymous
    Anonymous
    Participant

    Logan, can you put some figures to your “very negotiable” statement? I have heard a reasonable amount of anecdotal evidence which indicates that, in the general market, where sales are going through they are at around 30% lower than the asking price. Is it a similar figure with the banks?

    I wonder just what margin they are prepared to loose to be rid of a problem

    Don´t we all!!

  • #94481
    Profile photo of logan
    logan
    Participant

    Basically think of a number and cut it in half. It still means little if you are looking to sell on or buy to let.
    Think long term 10 years at least otherwise leave alone

  • #94482
    Profile photo of Anonymous
    Anonymous
    Participant

    I am indeed thinking long term. As in a property that I´ll use for holidays now and, once I have retired in around 10 years time, I´ll stay in for probably six months a year. For me it is not an investment, more a lifestyle purchase.

    That said I want to use my money wisely. What I´m struggling with at present is what actual values of properties are. Asking prices in most cases are ridiculous.

  • #94483
    Profile photo of Anonymous
    Anonymous
    Participant

    @brianc_li wrote:

    I am indeed thinking long term. As in a property that I´ll use for holidays now and, once I have retired in around 10 years time, I´ll stay in for probably six months a year. For me it is not an investment, more a lifestyle purchase.

    Have you tried other countries like Italy, Portugal, Greece, Cyprus or Malta?

  • #94486
    Profile photo of logan
    logan
    Participant

    I sympathise with the difficulties you have. As a general rule and if you are thinking very long term do this. Find a property that will still be there in 10 years (legalised) and with the same environment that appeals. Then make offers of 40% below the asking price and don’t budge. If there is no agreement walk away.
    Be prepared for rising community costs, crime and taxes.

  • #94487
    Profile photo of Anonymous
    Anonymous
    Participant

    No, basically because when I do retire it is my plan to spend summers in NL and winters wherever I end up buying. For reasons primarily down access to family and health care I have decided to stay in the EU otherwise Northern Brazil would be top of my list. None of the other countries you list have as benign a winter climate as the CDS hence me looking there.

  • #94488
    Profile photo of Anonymous
    Anonymous
    Participant

    Logan, thanks for that. I have always found your input valuable.

  • #94489
    Profile photo of Anonymous
    Anonymous
    Participant

    @brianc_li wrote:

    No, basically because when I do retire it is my plan to spend summers in NL and winters wherever I end up buying. For reasons primarily down access to family and health care I have decided to stay in the EU otherwise Northern Brazil would be top of my list. None of the other countries you list have as benign a winter climate as the CDS hence me looking there.

    If the weather is the attraction, why not Canary Islands? The winter weather is much better than CDS and Tenerife has acceptable hospitals. It is more expensive to fly there, but if you plan to go for 1-2 months then it should not really matter.

  • #94490
    Profile photo of Anonymous
    Anonymous
    Participant

    A few reasons for not choosing the Canaries.

    – They are not in the EU (Even though they are Spanish territories). This causes additional costs and hassle.

    – Further away. A four hour flight rather than two hours. Also my thinking is that I´ll take a few days to drive down to the CDS in Autumn and back to NL in Spring.

    – You are pretty well restricted to small areas.from the CDS you can easily reach places such as Granada, Cadiz and Seville not to mention many very pleasant smaller towns.

  • #94491
    Profile photo of Anonymous
    Anonymous
    Participant

    @brianc_li wrote:

    A few reasons for not choosing the Canaries.

    – They are not in the EU (Even though they are Spanish territories). This causes additional costs and hassle.

    – Further away. A four hour flight rather than two hours. Also my thinking is that I´ll take a few days to drive down to the CDS in Autumn and back to NL in Spring.

    – You are pretty well restricted to small areas.from the CDS you can easily reach places such as Granada, Cadiz and Seville not to mention many very pleasant smaller towns.

    OK, then I agree that Nerja is probably the best place for you.
    I saw many Dutch cars driving all the way to Almeria/Costa del Sol/Granada areas, so it should not be a problem driving there from Netherlands.

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