Spanish Properties to appear at UK Auction

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This topic contains 9 replies, has 6 voices, and was last updated by Profile photo of Anonymous Anonymous 7 years ago.

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  • #55307
    Profile photo of Anonymous
    Anonymous
    Participant

    Barnett Ross is joining up with Channel 4’s A Place in the Sun to offer 56 Spanish properties at its 13 December sale in London.

    The key-ready properties, which are being supplied by the television programme on behalf of developers, are located on the Costa Blanca, Costa del Sol, Costa Calida and Costa Almeria.

    It is the first time the auctioneer has joined forces with the show.

    The sale, at the Radisson SAS Portman Hotel, W1, aims to build on the success of A Place in the Sun Live, a show which took place at Birmingham’s NEC in October.

    The properties are being brought to market at discounts of as much as 50%.

    Thirteen lots have guides between €70,000 and €500,000. Six are being offered with no reserve prices.

    The most expensive property going under the hammer is Isla 1, Residencial La Isla Veneziola in La Manga, Murcia.

    The detached villa is at the end of La Manga Strip and has direct access to the beach.

    The four-bedroom, three-bathroom house has a total area of approximately 600m2.

    The reserve is below €500,000.

    Barnett Ross auctioneer Jonathan Ross said: “During 2007 and 2008 we sold 17 out of 18 Portuguese lots at auction and we are keen to explore the overseas market again.

    “The difference between this and previous disposals in Spain is that it is not distressed stock or secondhand apartments. These are new and have never been occupied.

    “With the Spanish property market having had a difficult time, developers are keen to move stock at just about any price.”

    He added that a team from Barnett Ross would be visiting Spain this week to make sure that the properties are described accurately in the catalogue.

  • #95178
    Profile photo of Anonymous
    Anonymous
    Participant

    Buying property at an Auctions is a risky business & not for the faint hearted in any Country.

    On the basis of buyer be aware the auctioneer is not responsible for any short comings. Bidders who do not know the area, the development or the developers track record do not have enough time to investigate.

    I am not aware as to how knowledgeable the auction House in respect of area, legal, planning & other mess that Spain is in. If I need to buy at an Auction in Spain I rather focus on local Auctioneers who have in depth knowledge of the area & the lots that are entered.

    The other side of the argument is that as buying in Spain is a lottery. Why not an Auction lottery.

  • #95179
    Profile photo of Anonymous
    Anonymous
    Participant

    For anyone interested the lots can be viewed here:

    http://www.barnettross.co.uk/current_aplaceinthesun.php

    I’ve just downloaded the pdf brochure & some leave a lot to be desired (16,17 & 18 Almeria) 😯
    But, each to their own, I suppose.

  • #95182
    Profile photo of Anonymous
    Anonymous
    Participant

    @shakeel wrote:

    Buying property at an Auctions is a risky business

    Sorry, cannot agree on that. Buying at auction if inexperienced is stupidity if one cannot afford.
    For those who do their research and have funds, superb bargains can be had in any Country.

  • #95184
    Profile photo of katy
    katy
    Spectator

    There always seems to be a few posters who insinuate that if someone cannot find a bargain it is because they are not savvy enough. I have had a few bargains in Spain, been buying since the 80’s. THERE AREN’T ANY BARGAINS ON THE CDS RIGHT NOW. There are reductions but only from overstated previous prices.

    This auction house says they sold 80%+ last month….what at 1.07 to the Pound……they wish, dream on 😆 Most look like Eastern bloc state flats anyway!

  • #95185
    Profile photo of Anonymous
    Anonymous
    Participant

    The auction claims of sold premises, but weren’t these the UK properties?

  • #95186
    Profile photo of katy
    katy
    Spectator

    TBH I only glanced at the site, same old rubbish. Auctions are the best thing to be in though right now, especially in Spain. Money upfront from the vunerable and the desperate, better than being an estate agent. Keeps them ticking over whilst they sell the odd one. 🙄

  • #95190
    Profile photo of Anonymous
    Anonymous
    Participant

    “Sorry, cannot agree on that. Buying at auction if inexperienced is stupidity if one cannot afford. For those who do their research and have funds, superb bargains can be had in any Country.”

    Timmy, You are stating the obvious. The old saying no risk no gain. The people who succeed in this are the ones in the know & take a calculated risk. The truth is that not many people are experienced as can seen from the forum .

  • #95191
    Profile photo of Anonymous
    Anonymous
    Participant

    I had a quick look at the Alicante ones, the reserves seem very high to me, and pretty unappealing properties. You can do better at the banks!

  • #95198
    Profile photo of Anonymous
    Anonymous
    Participant

    @shakeel wrote:

    The truth is that not many people are experienced as can seen from the forum .

    Assuming that is the truth as stated, then it just reinforces my comment “Buying at auction if inexperienced is stupidity if one cannot afford.”, as with anything in life.

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