[Anonymous]

I have finally sold my house in spain after having it on the market since 2007! 😀 Deal signed and done. At last!!!
Good luck to any sellers still trying to sell. Just thought I will shout it from the roof tops to give any desperate sellers a glimmer of hope. I admit it did take 4 years, but I can at last open a bottle of champagne and celebrate!
All the best sellers!!!
😀

[Anonymous]

@ethnatkev wrote:

I have finally sold my house in spain after having it on the market since 2007! 😀 Deal signed and done. At last!!!
Good luck to any sellers still trying to sell. Just thought I will shout it from the roof tops to give any desperate sellers a glimmer of hope. I admit it did take 4 years, but I can at last open a bottle of champagne and celebrate!
All the best sellers!!!
😀

Well done ethnakev,

I hope you got a good price. Best of luck for the future whatever that holds for you!

[Anonymous]

Hi Angela, thanks, all the best to you too! 🙂

[angie]

Well done, what was the key to you selling it? Was it: Price, Presentation, Location, Individuality, Small development, Good Agent, Cash Buyer etc It would be good to know 🙄

4 years on the market is not unusual on the Costas, we know of some that are still on after 5-6 years, so your’s sounds pretty speedy for Spain 😛

I assume you won’t be buying another Spanish property, and also that you could convert your Euros to Sterling at a good rate and before the Euro could crash 😕

[Anonymous]

Hi Angie, in answer to your questions:
*How did it sell?: Marketing, marketing and more marketing, home improvements and a lot of hard work!
*I didn’t make huge profits, just walked away clearing my debt with the bank and expenses for the sale. Never expected a profit in this market, but have not lost either as I did really well on the rentals.
*It is in a good location, which helped I suppose.
*I did deck it out with all new furniture just for the viewings, which again helped.
*Agent 😆 To be honest I dealt with tons of agents and not one did a good job, or should I say, they didn’t do anything! I don’t intend to slag off agents here but just speaking from my personal experience. All the hard graft was done by myself and my family in Spain. I only dealt with spanish agents not british, so I don’t know how well they may have performed, but I have to say that I don’t have a good word to say about spanish agents. Complete waste of time even dealing with them. In my opinion they are useless and aided my sale in no way at all. They can’t even take decent photos for you, I had to do this myself! and I even did a home information pack (I did this, not the agents, they couldn’t even do that!) and every person that viewed the house, walked away with one. This is completely normal in the uk, but wayyy too much technology for a spanish agent 🙄 As much as people moan about estate agents in the uk, they put spanish estate agents to shame, no wonder properties sit on the market for years in Spain, (even in boom times!)
*The buyers are “friends” of the bank, (as you all know in Spain it’s who you know…) The bank has been sending round buyers for the last 4 years, (I do have a good relationship with the bank which also helps) but nothing and at long last one was found!!! 😀
*Would I buy again in Spain?? Not in a million years! NEVER AGAIN. As they say once bitten, twice shy…. I may have said in the past that I would buy again in Spain and I have enjoyed Spain, but, with Spain, your’e on your own! So would not take the risk again. My headache is now over. The holiday rentals were good, but not as good as selling and finally moving on! 😀

[angie]

Well done again ethnatkev.

Your answers to my questions were brilliant and it shows what a lot of hard work, contacts, improvements, furnishing and all the rest can do just to achieve a sale in Spain 😛

I think too many Brits in Spain assume their property is better than anyone else’s, but in reality they are no different, they also think they will get ‘all’ their money back when in fact they probably won’t, so they stick out for their ‘high price’ and can’t understand why they can’t sell.

You are probably an example to all of them, you have to really work at it in these times, methinks 🙂

Many agents in Spain whether British or Spanish have always produced awful property details, if an apartment, they more or less use the same details for every apartment, they often don’t put anything like the work into the details that a bog standard UK agent would, yet the agents in Spain want huge commissions for little effort 😡

You said it all when you mentioned you wouldn’t buy again in Spain in a million years, I’d like to add Cyprus, Bulgaria, Turkey, Cape Verde, Morocco and all the other so called overseas property hotspots.

Good luck back in Blighty if that’s where you’re headed, at least you understand the system in the UK 😛

[Anonymous]

Yes, she was very proactive. The only way to move forward irrespective of the market condition. As you can see on this forum people who are trying to sell, what little work they do. They dont even bother to state where the property is. I suppose they feel that their property is in a hot spot so the whole world would know about it.

[katy]

You can’t expect much of the spanish based agents. Many of them were gas-fitters or working at B&Q a couple years ago 😆

When my daughter sold in the Netherlands the agent drew up a marketing plan and went through it item by item. Commission was 2%

However, I don’t think it would make a lot of difference right now in the Spanish market, there just isn’t the punters. Selling there has almost the same stats as winning the lottery.

[Anonymous]

@shakeel wrote:

Yes, she was very proactive. The only way to move forward irrespective of the market condition. As you can see on this forum people who are trying to sell, what little work they do. They dont even bother to state where the property is. I suppose they feel that their property is in a hot spot so the whole world would know about it.

I am constantly amazed how little effort people go to when advertising their property here FOR FREE! As you point out, they often fail to provide basic details like location and photos. Talk about being keen to sell 😕

[logan]

Congratulations ethnatkev. You deserve it. 😀
All that truth, err…. sorry negativity about Spanish agents may get you into trouble with some posters on here.
However your experience is something anyone who has been involved with buying and selling property in Spain knows only too well.
I have in the past always sold my properties myself but I agree it’s hard and expensive work even in a good market.
Good luck for the future.

[katy]

We have sold 6 properties in Spain and never managed to sell any ourselves except the last one. VIVA sold most of ours. When we tried to sell privately the only punters we got were scammers and time-wasters (dreamers!) Our last house we sold to a relative. Sheer luck that he was moving to nearby hospital and after looking at many duff overpriced properties said “let me know if you ever want to sell this”.

[Fuengi (Andrew)]

congratulations ethnatkev!

If you do not mind me asking, what was the final sales price?

also what nationality were the buyers?

[Anonymous]

Thanks to all for your kind comments. Katie, I agree, it does actually feel like I have won the lottery! 😀 and it is like a lottery at the moment. The agents on here can say what they like, I am yet to meet a spanish estate agent who does do anything for the money. I have sold about 3 properties in Spain of my own myself so I am sort of used to it. I find putting mini posters up in the area with a section where people can rip off the phone number worked really well for me. (like tags hanging off the bottom of the page with the number written on it, so if someone reading it doesn’t have a pen at hand, they just rip the number off. 😉 )Well, this certainly worked for me, the last 2 properties were sold this way, no agent involved. And advertising in the local papers etc. I had more private viewings of my own than agents had with any of my properties. So just speaking from experience. Saying that, I didn’t sell this one though, the bank found me the buyer! But, I did create my own website for the sale, which the bank used to show potential clients if any were looking for a property in that neck of the woods, plus my home pack, which I would give to anyone who viewed the property and I left the bank a pile also. I suppose keeping in with the bank is always a good move in Spain (in the uk I have never had the dealings or treatment received from a spanish bank, they would bend over backwards for you, in the uk, you are just a number) And finally, it sold to a spanish and french couple (one was spanish, the other was french) Saying that the urbanization is extremely popular with weathly spanish and other europeans, (not british to be honest) I knew it wouldn’t sell to a british buyer as it was too expensive to be a holiday home. But it was a struggle to say the least!

[DBMarcos99]

@ethnatkev wrote:

Thanks to all for your kind comments. Katie, I agree, it does actually feel like I have won the lottery! 😀 and it is like a lottery at the moment. The agents on here can say what they like, I am yet to meet a spanish estate agent who does do anything for the money. I have sold about 3 properties in Spain of my own myself so I am sort of used to it. I find putting mini posters up in the area with a section where people can rip off the phone number worked really well for me. (like tags hanging off the bottom of the page with the number written on it, so if someone reading it doesn’t have a pen at hand, they just rip the number off. 😉 )Well, this certainly worked for me, the last 2 properties were sold this way, no agent involved. And advertising in the local papers etc. I had more private viewings of my own than agents had with any of my properties. So just speaking from experience. Saying that, I didn’t sell this one though, the bank found me the buyer! But, I did create my own website for the sale, which the bank used to show potential clients if any were looking for a property in that neck of the woods, plus my home pack, which I would give to anyone who viewed the property and I left the bank a pile also. I suppose keeping in with the bank is always a good move in Spain (in the uk I have never had the dealings or treatment received from a spanish bank, they would bend over backwards for you, in the uk, you are just a number) And finally, it sold to a spanish and french couple (one was spanish, the other was french) Saying that the urbanization is extremely popular with weathly spanish and other europeans, (not british to be honest) I knew it wouldn’t sell to a british buyer as it was too expensive to be a holiday home. But it was a struggle to say the least!

Yes, I’ve seen houses advertised on papers stuck on lampposts, mainly in the cities. Something I will utilise if I do manage to get my finances together for my intended Valencian property (or elsewhere).
Do you think that method would normally put off prospective British buyers though? Seems a good way to find places in the area you’re looking at. Also, from your tale, it may also be worth asking the bank manager if they know of suitable properties for sale – although I can see big drawbacks on that too.

[peterhun]

@ethnatkev wrote:

Thanks to all for your kind comments. Katie, I agree, it does actually feel like I have won the lottery!

You have, your timing is impeccable.

[Anonymous]

It depends where your property is located and at what price to be honest. British buyers will not go to Spain and buy a property for 500.000euros. But they would buy one for 100.000euros. (obviously in a normal market, right now we all know british aren’t buying anything in Spain)
With regards to the banks helping out. Again, it depends what relationship you have with the bank from a selling point of view. I almost pestered the bank manager on a weekly basis so he could keep me up to date on whether there were even buyers looking for properties.
The banks would rather try to help if they know you definetely want to sell and can’t. So every time someone walked into the bank and asked for properties similar to the one I owned. They showed them mine, (they obviously tried to flog them their own properties first) but, I do have a very good relationship with the bank which helps a lot (and I suppose having a spanish father who has the odd drink with the bank manager also helps 😉 ) Sad, I know, but in Spain unfortunately it is who you know. I have got used to how corrupt they are, and if you can’t beat’em, join’em.
From a buyers point of view, there is no harm asking the bank if they have anything. If you buy with an agent you are paying a high commision fee, where as buying from a private seller, you can negotiate harder. I know loads of people in Spain that just refuse to use an estate agent because of the high fees. And they also know they can do the same job themselves. I also know of buyers who don’t use estate agents to purchase.
All the best with looking for your valencian property, just make sure you do your homework first and don’t rush into anything, seriously, I learnt the hard way, so just take 10 long deep breaths before you commit to anything. I certainly would.

[Chopera]

@ethnatkev wrote:

…
From a buyers point of view, there is no harm asking the bank if they have anything. If you buy with an agent you are paying a high commision fee, where as buying from a private seller, you can negotiate harder. I know loads of people in Spain that just refuse to use an estate agent because of the high fees. And they also know they can do the same job themselves. I also know of buyers who don’t use estate agents to purchase.
All the best with looking for your valencian property, just make sure you do your homework first and don’t rush into anything, seriously, I learnt the hard way, so just take 10 long deep breaths before you commit to anything. I certainly would.

We sold our flat last year without using an agent (or a lawyer for that matter) We advertised on Idealista/Fotocasa and used the €10k saving to reduce the asking price. Of course it’s difficult to do that if you are looking to sell to non-Spaniards because many don’t use those websites – they’ll automatically go to an agent when looking to buy.

[Chopera]

@DBMarcos99 wrote:

Yes, I’ve seen houses advertised on papers stuck on lampposts, mainly in the cities. Something I will utilise if I do manage to get my finances together for my intended Valencian property (or elsewhere).
Do you think that method would normally put off prospective British buyers though? Seems a good way to find places in the area you’re looking at. Also, from your tale, it may also be worth asking the bank manager if they know of suitable properties for sale – although I can see big drawbacks on that too.

In Madrid it is usually the agents who advertise on lampposts

[Anonymous]

Great work!

I don’t want to bash your method but in my opinion you got your buyer from the bank and not just on your own. If you don’t count pestering the bank boss. =)

If I would try to sell I would contract lots of agents but I would also try and sell it myself. The agents will only really make an effort if your property is well priced.

[Anonymous]

One has to try all venues. If one price’s their property well. The agents will add to the price resulting in pricing the property out.

[Author]

Posts