If you have decided to buy property in Spain and are desperate to secure the house of your dreams as soon as possible you will need to work a little harder to reduce the price and clinch the deal.
Making an offer
It is tempting for buyers to make a considerably low er offer than the asking price in a depressed property market. However, it is advised to be fair and make a reasonable offer. Otherwise, you can lose the property you want. Look out for sellers who are motivated to sell the property immediately rather than waiting for a higher offer.
See if the property is worth buying
Once you have analysed the seller's circumstances, see if the property is worth buying. Notice if it fulfills all your requirements and wishes. If you are willing to make some changes, evaluate the cost you will have to pay on repairing or changing the house/ property.
Keep your budget in mind
If you have set a budget for buying a property, ask the estate agent if any other offers have been made on the property. Agents are unlikely to disclose details of previous offers made but they can indicate whether your offer will be considered favourbly or not. In this way you can make changes in your offer if needed.
Making an offer below the asking price
If you are planning to offer a lower price than the asking price for a particular property you will have to justify your decision. You can give various reasons for a reduced offer. For example:
- Someone sold a similar property at a lower price a short time ago.
- There has been no considerable change in the market and the property doesn't fulfill your needs.
- You are going to spend money on making changes and improvements. You can argue with the seller that you should save that money on the initial outlay.