Original price

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This topic contains 4 replies, has 3 voices, and was last updated by Profile photo of katy katy 6 years, 9 months ago.

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  • #55446
    Profile photo of Tinnat
    Tinnat
    Participant

    I’m currently looking at a property to buy and would like to negotiate heavily on a house I’ve seen. However I would first like to know at what price my seller bought the house 5 years ago. Is such information available easily?

  • #97167
    Profile photo of Anonymous
    Anonymous
    Participant

    Hi Tinnat

    Unfortunately that information is not public, and it only appears on the vendor’s title deeds (escritura de compraventa). What I would do is to start negotiations with the vendor and try to get a copy of the title deeds before any offer is made with the excuse that your lawyer needs to start some initial legal searches before you commit to pay any money and before you agree to any price (just say you had some terrible experiences in the past trying to buy a property, or something like that).
    If the vendors don’t erase the price from the title deeds, you will get it there.
    However, the vendor could tell you that there was part of the price that was not declared on the title deeds (which has been common ilegal practice during the last few years) and there is nothing you can do to find out if that is true or not.

    You should also pay attention to the cadastrial value of the property and ensure that if you buy the property yo don’t declare less than the minimum value approved by the regional government (or if you do so, please be aware of the consequences).

    Thanks

  • #97231
    Profile photo of Tinnat
    Tinnat
    Participant

    Many thanks for your answer! can I ask a further question: is it acceptable in the current situation to make an offer which is around 40% lower than the asking price. It seems to me that the asking price is very inflated, and I would only be happy paying 40% less.

  • #97234
    Profile photo of Anonymous
    Anonymous
    Participant

    @tinnat wrote:

    Many thanks for your answer! can I ask a further question: is it acceptable in the current situation to make an offer which is around 40% lower than the asking price. It seems to me that the asking price is very inflated, and I would only be happy paying 40% less.

    Hi again

    At the end of the day, you can offer whicherver price you are prepared to pay. On the current market, buyers are in a better situation to negotiate the best possible price, but it will depends on the flexibility of the vendor to accept your offer or not.

  • #97235
    Profile photo of katy
    katy
    Spectator

    I would try an offer. I f they are interested in negotiating they will come back with a counter offer. You have nothing to lose. Be prepared to be disappointed as most sellers aren’t as desperate as some people think.

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