And so the househunting in Spain saga continues …. At the end of our post, the ongoing story of our attempt at buying property in Spain, and explaining the changes in mortgage tax relief that are due to come into effect, from January 2011 in Spain, we had sent an email to the estate agent to ask his advice on our proposed offer on a house that we had seen and very much liked. The news was not good. He said that the sellers would not accept such a low offer and advised us of a minimum price that he believed he could negotiate for us.
And so the game began … How do you know if the estate agent is playing games? How do we really know that the sellers would refuse a low offer? Did he make the offer or was he simply trying to get a better price from us? On one hand, you want to secure the best price possible within your budget. On the other hand, I do also believe that you can lose a good property if you barter too much over the price.
After a few days of deliberation and many more property viewings, we decided to put in an offer which was higher than the original suggestion but still below the “advised” minimum offer price. We decided that if the offer was accepted then we would go ahead and if it was rejected then we would continue with our long term rental and keep looking. The pressure would be off, as we would have missed the final date for the tax relief .
One phone call later and a slight increase on our behalf, after a final push by the agent, (still below the minimum I must add!) and the offer was put forward. Within twenty four hours, the offer was accepted and it was full steam ahead.
Now the race against time is on. Next, we go to the bank to talk about mortgages in Spain ….