The property is back on the market. We had a buyer who has now pulled out due to a problem with his ability to prove earnings!
We have already contracted to buy another property and are fortunate enough to have financing in place if we need it so are not in a distress / panic situation.
To update the price etc, we are now prepared to accept €310,000 for the sale, to reflect the retained deposit we had from the buyer who cannot complete.
Further, we are prepared to discount this by a further €10,000 if we have a private contract with completion at the Notario by the 1st September (this reflects the saving in the costs to us of not using the finance we have in place)
The €310,000 / €300,000 prices are bottom lines and are not open to offers. The property was valued for the Purchasers Bank in early July and has a Valuation of €390,000 reflecting todays market – it is available €90,000 below that figure to a genuine buyer! A 70-80% mortgage (of valuation and not purchase price) is available to a buyer through the brokers with a fee of 1%