So I put my property on the market . . . . . .

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scotty
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So I put my property on the market . . . . . .

Postby scotty » Sun Sep 03, 2017 12:01 am

And within ten days I have had an offer of the full asking price. We have been surprised by the speed of the offer and really didn't expect it to sell so quickly. Now we have an estate agent chasing us to sign the deposit form so he can take the deposit from the buyer. We now wonder if we want to sell :crazy: :crazy: :crazy: I assume we can back out of the sale anytime before we sign contracts ? ?

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Re: So I put my property on the market . . . . . .

Postby country boy » Sun Sep 03, 2017 7:36 am

Which Agent did you use? It all sounds very good! We are thinking of selling too. But......on the other hand ...etc Lol
What nationality are the buyers?

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Re: So I put my property on the market . . . . . .

Postby scotty » Sun Sep 03, 2017 8:16 am

I can message you the name if you want but they are local to San Pedro de Alcantara. The buyers are from UK. My agent put it on a real estate aggregator web site so it comes up on all estate agents sites, the buyers had wanted to buy in another area but fell in love with mine. Our issue is a strange one. We put it for sale thinking it would take several months and that we would have time to come to terms with the sale but it's all happened quickly.

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Re: So I put my property on the market . . . . . .

Postby gerryh » Sun Sep 03, 2017 8:28 am

I believe that once you have accepted the deposit that if you back out of the sale you have to pay the prospective purchaser twice the deposit.
So if the deposit was 10k then you pay him 20k.
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Re: So I put my property on the market . . . . . .

Postby costakid » Sun Sep 03, 2017 8:45 am

With no deposit you can back out with out losing any money, once you accept there deposit you have to return the deposit plus the same. If they back out after leaving the deposit you keep there money.
One thing I will say if you back out you may regret that decision if you decide to sell in a few months. Buyers are hard to find unless your place is unique.

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Re: So I put my property on the market . . . . . .

Postby country boy » Sun Sep 03, 2017 9:18 am

Thanks for the reply. We are great fatalists, que sera sera etc: We think you should grab it while it's going it might not come round again, fate etc.

Our house is a bit remote and we would be stymied without a vehicle. We have about 15 acres and a lovely old mountainside farm house which we have done up over the last 17 years. Last year I had a bit of a coronary and subsequent by-pass operation, all is very fine again now, better than for a long time actually. However as Wifey says, she couldn't look after this place on her own and would feel very vulnerable. Sooo...we love it to death out here and would be very reluctant to leave but common sense says we are not getting any younger and should start planning for the last chapter..YUK! It seems that the UK and/or Ireland are to be the choice but when is the big question.

What are your motives for selling? Where do you think you would like to finish your travels?

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Re: So I put my property on the market . . . . . .

Postby BENIDORM » Sun Sep 03, 2017 10:25 am

Scotty, If you have a 'good buyer' then if I were you I would grab the money and run .... :lol:

Country boy,
If you are considering selling well may I suggest that now is a good time to put your property on the market.
Campo property does tend to take awhile to sell, however you may be heartened to hear that I know of two recent sales agreed and one had only been on the market for 4 weeks ,and both buyers from the UK.!
Sales of town houses/ village houses seem to be steady now, with modern houses being purchased by Spanish buyers, and coastal apartments ,if priced realistically , are selling to all nationalities.
There will always be plenty of property for sale in Spain, in my opinion, however 'good' property seems to be selling well.
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Gordon

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Re: So I put my property on the market . . . . . .

Postby Pamela1 » Sun Sep 03, 2017 11:11 am

When i first joined the forum it was at a time when some forum members were trying to sell their properties through difficult times, nothing seemed to be selling and some had been trying to sell for 3yrs and some who had sold did so at an incredible loss...This year the forum became up beat and positive with sales and now we are all reading new entries like Miro's about his account of selling his Spanish home to buying his new home and how he's settling in the Uk..I'd say the same as other forum members and go for it while you can..

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Re: So I put my property on the market . . . . . .

Postby firsttango » Sun Sep 03, 2017 12:36 pm

We put our property on the market several years ago with a local estate agent just down the road from us. Admittedly the price was a bit high hence it only generated a few viewings then nothing for a number of years until two weeks ago when the Agent knocked on our door asking if we still wanted to sell at a similar price, as he had some people who were actively looking in our area and could he arrange some viewings. So it does seem that the market has picked up in many areas with potential buyers from a cross section of nationalities, in our case a local Spanish couple and an Austrian couple. This has put a bit of a fly in the ointment as we had dismissed any plans to sell as circumstances change but who knows if the offer is tempting enough.

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Re: So I put my property on the market . . . . . .

Postby truebrit » Sun Sep 03, 2017 1:16 pm

Who did you use First Tango? Looking at the agents windows it does look as if prices are moving a bit and I know local people are selling and buying.

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Re: So I put my property on the market . . . . . .

Postby firsttango » Sun Sep 03, 2017 1:32 pm

P.M'd you the details

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Re: So I put my property on the market . . . . . .

Postby scotty » Sun Sep 03, 2017 2:18 pm

costakid wrote:With no deposit you can back out with out losing any money, once you accept there deposit you have to return the deposit plus the same. If they back out after leaving the deposit you keep there money.
One thing I will say if you back out you may regret that decision if you decide to sell in a few months. Buyers are hard to find unless your place is unique.


I appreciate this information. I wasn't aware but was going to speak to my Spanish lawyer tomorrow. We are in an urbanisation between San Pedro & Estepona and uthere is a demand for good properties there. The estate agent is having "apoplexy" as I wont sign the deposit acceptance even though we got the full asking price. I've told him it will be a few days more as I'm waiting for a deal t close here in Ireland as well. He said that they may pull out but I think he is only worried about his fat commission cheque. I told him that he was working for me and not the buyer, he was not a happy salesman.

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Re: So I put my property on the market . . . . . .

Postby scotty » Sun Sep 03, 2017 2:18 pm

costakid wrote:With no deposit you can back out with out losing any money, once you accept there deposit you have to return the deposit plus the same. If they back out after leaving the deposit you keep there money.
One thing I will say if you back out you may regret that decision if you decide to sell in a few months. Buyers are hard to find unless your place is unique.


I appreciate this information. I wasn't aware but was going to speak to my Spanish lawyer tomorrow. We are in an urbanisation between San Pedro & Estepona and uthere is a demand for good properties there. The estate agent is having "apoplexy" as I wont sign the deposit acceptance even though we got the full asking price. I've told him it will be a few days more as I'm waiting for a deal t close here in Ireland as well. He said that they may pull out but I think he is only worried about his fat commission cheque. I told him that he was working for me and not the buyer, he was not a happy salesman.

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Re: So I put my property on the market . . . . . .

Postby Trooperman » Sun Sep 03, 2017 3:07 pm

I told him that he was working for me and not the buyer,


Well done! :thumbup:
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Re: So I put my property on the market . . . . . .

Postby Miro » Sun Sep 03, 2017 3:47 pm

Scotty: we accepted (in principal) an offer on our place I think about 3 or 4 years ago, very shortly after putting the place on the market. We were taken by surprise too. We didn't sign an acceptance contract, and the buyers, from Sweden, had not paid a deposit - they said they would come out from Sweden in a couple of weeks to view again, and "if everything was as they remembered", they'd pay a deposit. In between-time, we decided that we just weren't ready...we had expected it to take a long time to find a buyer and hadn't really thought the whole thing through. The "buyers" were livid, and kept sending the agent threatening e-mails, asking for compensation. We did feel a tad guilty for messing people around, but at the end of the day, you simply have to put yourself first. The agent wasn't best pleased either, but just forwarded the messages on. We told her to ignore them, or if she liked, to tell the "buyers" to go **** themselves. :oops: Until a deposit is paid, nothing is guaranteed, and unlike in the UK, buyers stand to lose nothing financially - unless of course they're trying to buy remotely from another country and are paying for airfares & hotels etc., but that's hardly the seller's problem. We withdrew the property from the market, and when we put it back on (at a slightly higher asking price) a year or so later, the same agent was surprised, but more than happy to re-list it (and brought us a few viewings).
We then waited years for a sale, and although there was no urgency to sell, yes, of course there were times when we got a bit demoralized & wondered if we had been foolish losing that sale. But we did finally sell, for a better price, and at a better time for us.

Ultimately only you can answer your own question. You need to have a real long hard head to head (with whoever "we" is in your case!) and decide if the price and time is right. If not, for whatever reason, don't be afraid to back out. The "market" will always be there, in one state or another. You also need to check exactly what it's going to cost you to sell, as this seems to be something that many people overlook until they're committed, and then get some nasty surprises. We bought & sold several properties over the years, so we were well aware of the costs, but pretty much all our transactions were during the boom years when the extravagant cost of buying and selling property in Spain kind of got absorbed & compensated for by the silly gains that were to be made, so even we were a bit surprised at some of the expenses. Make sure you're fully aware of: any capital gains tax liabilities (I assume in your case there'll be 3% retention for non-residents); plus valia; agents fees; lawyer's fees; moving costs; bank charges for deposits/transfers etc.; purchasing costs/fees/taxes etc. if you're planning on buying somewhere else, either in Spain or elsewhere.

Whatever you decide, don't forget to let us all know...and good luck!
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Re: So I put my property on the market . . . . . .

Postby Miro » Sun Sep 03, 2017 4:01 pm

As an aside to my previous post, on the subject of the market and how it's performing, a former neighbour of mine in Torremolinos tells me that since we left (only 3 months ago) several new estate agents have opened, and properties, albeit those at the lower end of the market, seem to be selling quite quickly. Tecnocasa, those bottom-feeders of the lowest order, have opened a second office in Torrie, down in La Carihuela, so despite the fact that they seem to think they can offer an "official" valuation of your property by looking a your last IBI receipt and reading off the valor catastral, must be doing OK selling cr4p for desperate sellers at rock bottom prices to un-fussy buyers! As to whether prices are actually showing any signs of rising, my ex-neighbour didn't really think so, and furthermore said that where she owns another property (that she's been trying to sell for years), in Algorrobo, she felt prices were still falling.
Don't worry about what people think, they don't do it very often

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Re: So I put my property on the market . . . . . .

Postby wollie » Sun Sep 03, 2017 6:59 pm

It seems to me you need to decide where you want to live "NOW"
All of these people are treating you very well and to me you are the messers.
If its just a few grand i would take the hit other than break even a handshake deal.
On the other hand if you decide to stay explain and take the hit by losing sale.
The estate agents i know would not deal with you 2nd time..

sorry

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Re: So I put my property on the market . . . . . .

Postby markwilding » Sun Sep 03, 2017 7:18 pm

You have to do what's best for you but you should make up your mind as as not to leave the buyers in limbo. These things are not a one way street. It could be that someone puts in an offer then pulls out .

I wouldn't worry too much about the agents though, it's part and parcel of the job. If they don't want to help you next time, that's bad business.

I took my house off the market in London after an offer because I didn't feel it was the right time to sell and the agent got ars%y so I used another one when we finally decided to sell.

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Re: So I put my property on the market . . . . . .

Postby Sorpresa » Mon Sep 25, 2017 8:15 pm

wollie wrote:It seems to me you need to decide where you want to live "NOW"
All of these people are treating you very well and to me you are the messers.
If its just a few grand i would take the hit other than break even a handshake deal.
On the other hand if you decide to stay explain and take the hit by losing sale.
The estate agents i know would not deal with you 2nd time..

sorry

I agree stop wasting people's time either accept or withdraw from the market

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Re: So I put my property on the market . . . . . .

Postby scotty » Wed Sep 27, 2017 5:30 pm

Update . . . . . . During this thread my best friends son committed suicide. We couldn't focus on Spain and told the agent we would not sell at the time. He wasn't happy at all. I was in sales for thirty years and had experience of customers changing their mind, what it showed me was that he (estate agent) was being driven by the cheque. I never fought with my customers when they cancelled an order or changed their mind and as a result I held them as customers and got the sale when they were ready. I tried to explain this concept to him but it appears I'm off his Christmas card list.


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