making an off

Inspetahome

I have no intention of putting too much if my business dealings on a forum

I have said more than enough and maybe you are missing something 

I don't know you or your business and don't want to 

But as you say there are AWAYS many factors and there are options to ensure all debts are clear and they don't come to the buyer and stay with the seller. 

As I said my original point still stands banks will not block a sale in a black and white way implied 

Your client was obviously unlucky as I have been in the past but I have had far more luck than bad luck privately and in business. 

I am sorry Tadd but I am not trying to have a row but people know my business, now I am an estate agent as per my signature and one of the few posters that has always published his contact details

As always on this forum what I post is based on real life experiences and ofetn where people claim that there are ways to defer or move debt and then cannot or will not explain how you do have to doubt their information and credibility

On your development, last week, one of the 3 bed detached villas with a pool sold for €159k, would you, knowing perhaps the area and properties have expected 30% off that greatly reduced price, it sold at the listed price and there was a Q of buyers

Again for the benefit of all, unless the property is clear of all bank debt the bank will refuse to allow the completion.

One method around this, that I have used is to surrogate an existing mortgage, the new buyer takes on the full debt and the existing mortgage, saving setup fees. Now however, with low mortgage rates, 1.7% fixed rate on 10 years, chances are that the old mortgage won't be at an attractive rate, so often even with charges a new mortgage is better. This was known as a buiders mortgage, often from the bank that financed the development, at a special rate

I have heard stories of course that black money is paid to the seller, they declare enough to clear the debt and then they get some cash payment, not clever if you consider tax on the value

Trust me if there is a way to legally move the debt I would know about it and be happy to tell this forum,

Sorry meant to add that the stories that you have heard of the banks chasing people for money, owned when the property has been sold for a value below the amount owmed on a mortgage, are where the bank has repossessed the property, sold it at auction or via their site like Solvia and come after the original owners for the debt and fees

Inspetahome

I respect your views even though I have a very low opinion of estate agents in spain (no offence to you)

But I know my private affairs and business matters and experiences as a result 

I don't wish to argue with you so maybe we should agree to disagree and I will continue on my own affairs as you do with yours 

Maybe we should agree that we're just splitting hairs here. Tadd, if your escritura/copia simple has words to the effect of "libre de grávamenes y limitaciones", then the mortgage on the property was cancelled before you signed on the dotted line. It's not just the bank that would stop the sale, the notary would. How the vendor settled his debt with the bank (transferred it or whatever) is irrelevant. If on the other hand there's nothing to that effect on your escritura, you should be very worried right now!

Oh dear did not mean te cause too many arguments, the apartment we have seen  is 179,000 euros one agent has told us that one sold at the begining of the year at 160,000 and she said they have not gone up since then and he should have priced it at 160,000, we would like to start at 155,000.??

Glad you came back, despite all the petty bickering we indulge in here! 

I'd say that sounds like a fair and sensible offer - about 13% below asking. If you get it for 160, that's around 10%, which most would agree is a good result. Go for it, and good luck!

Roberto

Yes we are splitting hairs which is my point everything is not as black and white as many people say

Good luck to the OP

Yes I would agree that sounds like a very sensible offer and please don't worrry about the exchanges, this is a verty helpfull and I believe usefull thread for lots of people

Mos of us experienced on here are used to the exchanges and we can look after ourselves