I was reminded this week about the potential for anyone already living in Spain or who has sold a property in Spain to be owed some money by officialdom.
I got a call from a gestor about one of my clients from three years ago. Could I come in and pick up the excess money from the provision of funds made when she sold the property in … 2009! I misheard the amount on the phone. I thought they had told me 50 euros. When I arrived at the gestoria I was given a cheque in the name of my client for 950 euros.
In 2011 we gave an iPad away to all people who bought a property from Valencia Property, except to those who already had one. Next year we have decided to change the offer. In view of the fact that Valencia now has its own Apple Store (On the corner of Calle Colón and Calle Lauria in the centre in case you didn’t know) you can now get there to get your own iPad and enjoy the experience of buying and using it. This year the change of offer involves three things.
When you are negotiating the price and other aspects of a Spanish property purchase you need to understand the seller psychologically. If we are to assume that the seller is Spanish, as the majority of sellers are away from the Costas, then it is necessary to understand how their mind works.
In order to do this we need to realize what the Spanish mind thinks, obviously this is a broad generalization but by generalizing you can get an idea of what you need to understand in order to be successful in any property purchase.
A new report that ADICAE has produced (The consumer organisation protecting people from abuse by banks) reported in Global Edge here, shows what banks are doing to overvalue the properties they have in stock and then try to sell them by offering 100% mortgages over a period of up to 50 years while not offering mortgages to people on properties that are not in their portfolio, ie the general market.
Last Saturday I took some clients out to see a lot of Spanish properties again. That’s what I do of course. This time the issue was the purchase of a Spanish Property in Valencia for a client moving to Spain to work at the Ford factory. (Don’t be surprised Ford have announced a huge new investment in the Valencia plant to build the new Ford Kuga (Or Cougar))
Last week I wanted to take a client to see a few places for sale in Valencia. I made a few phone calls and found that three places out of four had been sold in the previous two weeks. Then another client came along and the same happened with three more places, this time houses rather than city flats. Last week we sold a property after having it on site for just a week.
Valencia has had the no vacancies signs out for a few weeks now. I have been told by lots of clients that they have had major problems booking accommodation for when they are visiting Valencia to look at properties. Firstly there was the Formula One, next weekend is Campus Party, the summer is full of events from Iggy Pop last night through to Seal, the Jazz Festival, the midnight beachside firework displays, the Champions’ Tour showjumping, ATP tennis etc… (And that is a long etcetera)
Spain has had a lot of publicity recently about the #SpanishRevolution with people camping out on the streets complaining bitterly about the political classes and the banks, but everything has been done in an orderly and civilised way. Other countries have not been so lucky. Greece has had riots, Egypt a revolution, most North African countries are going through the same process and as fuel prices rise the cost of getting to long haul destinations like Thailand, the Caribbean and the States (Not even mentioning the ridiculous checks at airports in The States due to the Homeland security laws) mean that suddenly the old favourites are making a comeback big time when people look for overseas property and places to get away to.