Property Auctions in Fuerteventura/Lanzarote?

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This topic contains 5 replies, has 3 voices, and was last updated by Profile photo of Anonymous Anonymous 11 years ago.

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  • #51375
    Profile photo of Anonymous
    Anonymous
    Participant

    Hi , can anyone tell me if their are property auctions regarding repossessed property etc in the canaries or spain or UK even, i would like to buy a property in Fuerteventura or Lanzarote this way rather than thru an agent (Being a canny scot) i hope to save money,
    please advise
    Regards Johnston Stewart.

  • #59921
    Profile photo of Anonymous
    Anonymous
    Participant

    For the province of Las Palmas if you look for “Subastas (Auctions) Las Palmas” you will find a list of land or properties being auctioned, normally by the local or tax authority.

    Good Luck

    Terry English

  • #59933
    Profile photo of Anonymous
    Anonymous
    Participant

    I have been looking at a site
    http://www.direct-auctions.com/
    but I havent been very impressed by the prices. I think it might just be a gimmick. If you think that this is cheap -you haven’t got a clue…

  • #59940
    Profile photo of Anonymous
    Anonymous
    Participant

    Yep the Direct Auction guys are way off the mark, I have been to two of there so called Auctions and not one single property was sold and 95% were withdrawn. Reserve’s were way too high.

    The auction process will never work in Spain as the majority of sellers have a completley unrealistic view of the value of the property they are selling. Hence the high reserves.

    Great concept badly executed.

  • #59941
    Profile photo of Anonymous
    Anonymous
    Participant

    I can’t fully agree with people’s comments about direct auctions, I’ve also been to a couple of there auctions but my experience was very different, in as much as many of the prices where well below the price you’d find in an estate agents window BUT the room seemed to be filled with speculators with ridiculas expectations, only there to find the bargain of the century that they could grab to resell at a profit 😕
    Both times I went, about 5 or 6 properties out of 20 odd sold on the day but bidding was pathetic and on the whole I came away thinking it was agood idea in principle but it lacked exposure to the real buyers out there who are looking.
    newb.

  • #60050
    Profile photo of Anonymous
    Anonymous
    Participant

    Thank you to the previous person who obviously DID attend the auctions. We have ALWAYS sold at every auction and after 2 years we would not still be doing this if not – we would be bankrupt. The 2 guys above are obviously sour agents who are unable to sell their overpriced properties. We sell approximately 45 to 50% of our catalogue as some sell prior, on the day and after auction. We also sell all month round, and last week 4 properties have offers accepted on them. Thank goodness for forward thinking people such as the organizers of the forthcoming Viva Espana Show at Olympia London at the end of january 06 who have cordially invited us to conduct live overseas auctions – we are looking forward to a massive media interest on this first time ever event. The majority of our units are offered way below the prices other agents have and it is not a gimmick – you are welcome to our offices at any time to see us exist!

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