We have seen a significant pick up in market activity in 2011 and we are finding that over 70% or more of product now selling on the golf resorts we promote in Murcia is bank owned property. The prices on offer today are exceptional bargains. Typical discounts range from 30% to 50% below 2007 prices. Brand new properties on fabulous golf courses offered with 90%, sometimes 100% mortgages.

 

The market at present is distorted in the sense that normal resellers are unable to cut their price by 50% to match the banks. (Imagine a seller in the UK selling at half price!?). Hence while the bank stock lasts there is potential for opportunistic buyers to snap up any number of superb bargains.

 

 

In general the Spanish banks we work with do not take offers officially. Prices are already substantially discounted. However we have had considerable success this year in negotiating with some of the banks a lower offer price on behalf of our clients. Despite the market pick up we are noticing a greater eagerness by the banks to talk about price. The pressure on them from the central bank in Spain to clear their stock quickly is building. In some circumstances we have been able to obtain up to 15% discount from the already discounted prices on offer. We may not always be successful and the process for communicating and processing each offer differs by bank.

 

 

Villa Cashback is experienced in dealing with the banks in Spain. We are the largest seller of bank property on the Polaris World resorts in Murcia and we have processed many sales. Working with the Spanish banks is challenging and we are prepared to negotiate on behalf of our clients for better prices where we feel there may be an opportunity to achieve this.

 

Please note that there is a fee for this service and we only charge for successful negotiation. For details on our fees please contact our UK office on 0207 060 1475.