# Asking price v price paid



## KG5 (Mar 21, 2016)

Straightforward one here which may or may not help me!

If you have bought a house in Spain (or know the financial details when someone else has bought) how much less than the asking price did you pay?


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## snikpoh (Nov 19, 2007)

We paid the asking price!

Seemed a good buy for us and a good price for the seller - we were all happy.

A property is only worth what someone will pay for it - why not offer what you think it's worth?

NEVER buy in Spain as an investment (IMHO)


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## Pesky Wesky (May 10, 2009)

KG5 said:


> Straightforward one here which may or may not help me!
> 
> If you have bought a house in Spain (or know the financial details when someone else has bought) how much less than the asking price did you pay?


That, imo is not something that can be answered except by someone who has bought in the very street/ block of flats/ urbanization that you are buying, and the same would apply in the UK


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## kalohi (May 6, 2012)

We bought a little over a year ago, and at the same time sold the house we owned at that time. We paid the asking price for the house we bought, and we were also paid what we were asking for the house we sold. 

I agree with snikpoh that a house is worth what someone will pay for it. But I do understand that nobody wants to be the sucker that pays too much. I recommend going onto websites such as idealista or fotocasa and see what is being asked for similiar properties in the area you're interested in. You'll quickly get a feel for what's reasonable.

Good luck!


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## Alcalaina (Aug 6, 2010)

It used to be the case in Spain that sellers would not drop the asking price, even if it meant having the property on the market for years. This all changed after the financial crisis, now it's just like anywhere else and they will often accept low offers.

Fotocasa shows drops in asking prices for individual properties, and also has an analysis of actual selling prices by area, if you care to do a comparison.


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## Lynn R (Feb 21, 2014)

I bought last year and paid 5% less than the asking price. Rang to make an appointment to view the day it appeared on an agent's website, viewed it the next day and it was obvious that (compared to the other places we'd seen over the previous 3 months) it would not hang around for long. If the seller had refused that offer I would still have bought it at the asking price, to be honest.


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## Lynn R (Feb 21, 2014)

I should add that 1´d sold my old house 3 months previously and had accepted an offer of 7.5% below the asking price on that. It was on the market for 3 months before I accepted that offer. A friend sold her house earlier this year for 2.5% below asking price, was on the market for 6 weeks.


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## Isobella (Oct 16, 2014)

Useful if you can find out how long it has been on the market.


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## snikpoh (Nov 19, 2007)

Isobella said:


> Useful if you can find out how long it has been on the market.


... and whether the price has already been dropped.


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## baldilocks (Mar 7, 2010)

Back 2007 ours was on offer at 87k, we offered 85k and it was accepted.


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## Megsmum (Sep 9, 2012)

On at 101K, bought 75K my área is not full of competition or foreign buyers


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## MaryHinge (Jul 13, 2018)

It appears the further inland you go the more you get for your money, especially in small towns with a minimal foreign presence. In some areas near Jaen for example you can still pick up a 5 bed 2 bathroom townhouse for 28k euros that only needs some tlc, I'd be too embarrassed to make an offer.


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## KG5 (Mar 21, 2016)

Thanks for all the answers everyone


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## Monkey104 (Aug 24, 2014)

We have just paid the asking price for our villa. We had seen some properties that we liked but no one was budging on price. 
Ours was the last property we saw and as soon as we saw it both of us fell in love with it.


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## DonMarco (Nov 20, 2016)

Paid 12% below asking price three years ago.


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## Relyat (Sep 29, 2013)

Just sold at 15% above and bought at 10% below.


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## SandraP (Apr 23, 2014)

We are in the process of buying, price has been dropped by 6k but seller has offered it to us at 2% less than reduced price. There is a story to this sale though as we offered full asking price 4 months ago but even though offer was accepted they took it off the market as they decided to sell to someone else. This new buyer cannot raise the money so seller is offering it to us at a reduced price. 
Fingers crossed it goes through this time.


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## recol (Feb 3, 2009)

*Never pay the asking price*

Today in El Economista, a finance and business newspaper, there´s an article about rebates and asking prices. I can´t post the link because the forum won´t let me but go to eleconomista website and in the search function (buscar) type "rebaja precio". It´s the first result. 

The average rebate for used properties is 7%. Some comunidades have higher rebates (8.75% in Asturias) and some lower (5% in Castilla La Mancha).

So, always ask for a rebate, never pay the asking price.


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## tammy123 (Mar 27, 2008)

We bought our house in May this year asking price was 83,000 euro, we offered 80,000 and it was accepted.


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## bobley (Nov 7, 2018)

We bought in Pollenca Mallorca at easter. Prices are a bit high and we were stretching ourselves so we'd always be discussing somewhere approaching 9% off.

We had an offer accepted at 9% but that fell through as some of the house (attic conversion) was outside planning regs. In the end the house we bought was knocked down by 6%. The house we bought had been on the market 6 months and had just been marketed by multiple agents so we knew they wanted to move. Average houses can take 18months or more to sell.

We still ended up paying well over the asking price as the fees all added up to about 10% of the purchase price and that didn't include any mortgage setup fees.

Even on the day of completion I got stung for another €€€ as the bank charges about 0.2% for writing out a bankers draft. They halved their fee as I agreed to take their home insurance!


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## Isobella (Oct 16, 2014)

I think one size does not fit all when making offers. Had something from Viva estates yesterday and browsing in one urbanisation of villas I know, at a guess there seems to be two thirds on sale and have been for a long time. A few I know well seem really overpriced.


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## bobley (Nov 7, 2018)

Interesting article...

spanishpropertyinsight.com/2016/09/01/spanish-buyers-offer-21pc-asking-price-average/


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