Houses for Sale in Spain

The Spanish Government, Banks and Repossessions.

Up to now if you couldn’t pay your mortgage in Spain you had three months and then the bank would start proceedings to embargo (Repossess) your property. The process would usually take around a year and at the end of the year when nobody bought it at auction because of the debt on the property, original mortgage debt plus around 35% costs on top, the bank would adjudicate it to themselves at 50% of mortgage value, sell it onto an investor, usually another financial institution, and then start the process of recouping the money from you for the rest of time, they could embargo a percentage of your wages above 648 Euros per month.

Looking at Property in a Different Way

Valencia Property started in business 11 years ago at the request of a friend to find him a property. About a year later we put the first website up and until about four years ago it was a total mess but did its job. About four years ago it became database driven after the previous webmaster had refused to do his job properly for a couple of years but the website was still a mess. Last December thanks to Steve at Microedge it became much more coherent and now makes sense for people arriving on the site.

There’s A Dead Clown In The Garden

I have been told the usual complaint about other estate agents many, many times, “but estate agents don’t actually listen”. Now I pride myself on listening to what clients want rather than taking them to what I want to sell them so when I saw this video this morning I thought it summed up the difference between my estate agency and many others very well.

When a Carbuncle Rises From The Hillsides. A Spanish Ghost Estate

I have had the fortune to travel around the Valencian community quite a lot in the last few weeks and I have noticed some major differences since the last time I was able to do it.

I have been down to Javea a couple of times with excellent weather to accompany me. Because of this as I wasn’t in a hurry I took the CV332 rather than the toll motorway. I saw this carbuncle near to Favara.

What Does A Spanish Estate Agent Do?

What does a Spanish Estate Agent do? Or rather what do I do as a Spanish real estate agent and property finder?

Today I have to do some housekeeping for clients.

The Valencia Property End Of Year Report

Well you got it first if you were on our Facebook page a couple of weeks back but now it is here for the rest of you who don’t use Facebook. The Valencia Property end of year report can be downloaded here.

Just Around The Corner, Valencia Property Changes

Yesterday I was bored for about the first time in four years. I have been annoyed, frustrated, ecstatic, worried, hurt, delighted and a whole host of other emotions in that time but one thing I haven’t been is bored.

Last night I was bored.

Black Money In Spain. Tip Number 86

The thorny issue of black money in Spain is one you should be aware of when buying Spanish property. Black money is when you buy a house for one price, let’s say 200,000 Euros for argument’s sake, and you declare less on the deeds, for example 180,000 Euros. The reason people do this is very simple, tax avoidance. The buyer would save themselves around 1400 Euros in tax in the above example, 7% of 20000 saved, and the seller might well save a lot on capital gains, eg 18% of any capital gain, let’s say the original purchase was made at 150,000 Euros and then the sale was declared at 200,000 in theory there would be a capital gain of 50,000 Euros minus costs on purchase and sale, round about 15,000 Euros. The saving therefore would be around 3600 Euros