Is this lack of info strange from an agent ?

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05 May 2014 5:22 PM by Spanishsteve Star rating in Surrey, Eastbourne &.... 81 posts Send private message

I have seen a property advertised on a property search website and filled in my details asking for info from the agent. I received an email today and a generic brochure so I emailed back asking for specific location of the apartment .i.e village or town etc and if they had a layout / plans of the apt. Allegedly 2 bed apts near golf resort near Denia, bank repos for 65k euros.
I then received a phone call some minutes later from the agent,so I asked where the location was and was told ' I can't tell you where the product is because our competitors would like to know too so they can get an advantage but their between Denia and Oliva'. I then asked about the layout and was told they did not have any details as they were bank repos. So I said, ' so I'm expected to fly to Spain to look at a property where I don't know where it is or the layout ?" The agent then rambled on about how good the 'product' was and how very few have not bought.
I've looked on the net and can't find properties which match the photos I have to see if another agent is also selling or even if they exist. I can imagine I fly over and surprise, the last one was sold yesterday!
I've never come across this before from an agent so all the alarm bells are ringing, any thoughts anybody ?




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05 May 2014 6:09 PM by Woodbug Star rating. 371 posts Send private message

The Spanish property market is a minefield and anyone can be an Estate Agent here. Luckily loads of these self professed experts have packed up and gone back to their day jobs in UK.

SAREB (banco malo) was created to handle the sales of all the repossessions and toxic debts from the Spanish commercial banks but last year they made a 1bn euro loss – paying the commercial banks commission on sales that they made on properties that they had given to SAREB, that SAREB couldn’t sell and gave back to the banks to sell (With me so far?).  See http://sareb.org/

Many Spanish banks have their own Estate Agencies so Google them and see what’s on offer. The web is packed with Agents who are ‘authorised’ by banks to sell ‘distressed’ properties so beware of them although there are genuine honest companies representing banks so take your time and look carefully.

With regard to the agent you have written about – simple advice............. run.

There are lots of deals to be had with thousands, if not millions of properties in Spain so the buyer is the boss and you buy on your terms.  Decide on your budget and find an Estate Agent you like and trust in the area you want to live in.

Good luck and take care.





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