My last post on the site was about why spanish property sells. What to look for as both buyer and seller. You could say that the reasons why a spanish property doesn’t sell are directly and inversely proportional but that isn’t exactly the case. However the first reason for not selling a Spanish Property given below is very common and a huge impediment. Take a look and tell me what you think.
- Unrealistic Price Expectations by the Owner: In the last week I have had to turn down various people wanting to sell their properties due to pricing. In one case I had to go with the totally unprofessional answer of “You have got to be feckin joking!” when I was told the price expectation of the owner. What I would really like to know is why a property bought for a certain price in 2004 is now worth double or more what the client paid for it when property that is selling is at 2004 prices? What an owner should do is look at comparable prices in the area of things that have sold, not things that are up for sale and then position their property in the ballpark of those properties. If they want to sell then obviously the lower part of the ballpark.
- Location: If your property is great, well presented and nicely decorated, it may still not sell. The area that the property is in can be the most important aspect regarding selling a property. If your property is lovely, with great views and superb facilities but lies underneath some electric wires and pylons then it will not sell (At least I will not try to sell it for you), if it is in a part of town where the local drug gangs like to meet up then it will not sell, if it overlooks a gasworks or a nuclear plant then don’t expect it to sell. Equally next to a railway track or motorway, at the side of a pig farm or overlooking a sewerage plant is not going to be easy to move on.
- Presentation: If you present the property in a way that suggests you don’t care then it is likely that red flags are being raised in the mind of the buyer right from the start. Usually this means that there will be hidden problems because if you cannot even be bothered to make it look nice on first look then there is little chance of the underlying aspects being sound.
- Lack of Distinguishing Features: Spanish property buyers coming in from abroad are generally looking at a lot of properties. If each one blends into the others and don’t stand out then it is unlikely that yours will be remembered and will be sold. Make something memorable about it so that when the buyer is going over the options later they can say good things like “No, that was the one with the rooftop jacuzzi overlooking the mountains”. which is obviously a lot better than “No, that is the one where the bedrooms were devoted to cat breeding and Graham started sneezing uncontrollably!”
- Comparisons: Well it is a lot darker than/smaller than/older style than… You must always get the positive aspects of your property accentuated. Unfortunately there are a lot of properties in Spain that have few distinguishing features and they will always look bad in the comparisons with any others. I have a simple solution for this, they do not get onto the Valencia Property website so the comparisons are always positive rather than disparaging.
- Pool: If you have a pool at the property either empty it and clean it or have it full and sparkling even though it is the middle of the winter. mages like the one below do not help! People come to Spain for a lifestyle and imagining themselves in or around the pool is better than imagining themselves negotiating crocodiles in a swamp while cleaning it out.
So the big question at the end of this post is simple, what would stop you from buying a particular Spanish Property? How would you advise a seller to set up their property for sale? Once you have given your advice then take a look at the Valencia Property website and see how the properties are presented.