How To Get a Reduction of 30% in the Price of an Apartment in Spain

property bargains spainAccording to the Spanish Consumer Website Consumer Eroski, it is possible nowadays to obtain a reduction of between 5% and 30% –  if you are a cash buyer and happy to negotiate with the seller.

Of course the background to all of this is the continuing – if not increasing – difficulty that the average Spaniard has in acquiring a property themselves. A temporary reduction in government stamp duty from 10% to 4% came to an end, a large stock of unsold homes, banks unwilling to extend credit etc etc. So, if by contrast you arrive as a willing buyer, with no difficulties in obtaining the finance, or even better, a cash buyer, the proverbial ball is in your court.

Some of the advice that the Eroski Website offers is really little more than a recompilation of sensible buyer’s practices, for example, consider the urgency with which the seller wishes to sell, analyse the price in comparison to other similar properties in the area and to haggle with the seller.

There is however some more country specific advice such as requesting a valuation and a copy of the ‘Nota Simple’ or Basic Land Registry Certificate.

You can read the full article in original Spanish or in Spanglish (uses the Bing Translator)

 

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