TV shows about the Costas

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04 Jun 2007 7:19 PM by Pitby Star rating in Andalucía. 1904 posts Send private message

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Tinto, as someone who "knows a little about auctioneering", what exactly are you implying?  A seller can obviously set a reserve figure for their sale, but what has the auctioneer to do with it? 

Your post suggests something misleading about Rixxy's comments.



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04 Jun 2007 7:29 PM by Pitby Star rating in Andalucía. 1904 posts Send private message

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Rixxy, what a realistic synopsis of what is happening in the Spanish property market, particularly on the Costas.

You have obviously spent some time on your post and it is most appreciated - it's only a shame that the same time wasn't spent by the producers of the the TV programme debated herein, in being fair and objective about the state of the market.






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04 Jun 2007 8:31 PM by tinto. Star rating in Scotland & Nr Estepo.... 243 posts Send private message

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I am quite sure Rixxy would not mislead intentionally what i am saying is auctions as such can be open and transparent but can also be the opposite which can be the fault of either the auctioneer or the seller or both. Depending on the integrity of these people I would always say to someone not experienced in buying at auctions "buyer beware"



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04 Jun 2007 9:24 PM by Roberto Star rating in Torremolinos. 4551 posts Send private message

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Great piece, Rixxy. If only ITV had taken you aside and concentrated on turning (all) your thoughts into a half hour program, a lot of people would be feeling a lot less confused now, would be far better informed on the REAL situation here, and would no doubt also feel a lot more confident about investing in Spanish property. Shame on them for wasting such a wonderful opportunity to produce a worthwhile program that would stand apart from the rest of the dross.

I particularly appreciate this point of yours: " Who are the main buyers now? The Spanish - luckily they have money and confidence in their own market but again they know what the prices should be!"  I've not sold a lot of properties, but those that I have, have all been to Spaniards so far. It's not that I've deliberately targeted them - rather that I've deliberately NOT bought anything in the foreigner-only market, i.e. "in the hills miles away from anywhere and anything".



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05 Jun 2007 1:30 PM by Rixxy Star rating in San Pedro. 2010 posts Send private message

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Hola again, well I did say all this to the programmers but they have to keep their figures up so I do understand their dilemma. On re-watching the programme (yes I will be selling signed copies) good points did come through and it vertainly hasnt put off the flood of people who have a) looked at my website and b) contacted me wanting to buy and sell so there is confidence in the marketplace and it is actually back to a normal market (pre-mad offplan speculative driven by greed scramble)

We have a lot of Spanish buyers and I am intending to take the auctions to the Spanish market place - it was the long term goal!

With regards to transparency, I have a reserve price in place agreed between myself and the owner. I do have discretion but usually only within my fee! Which I have to say I often drop to close the gap in a deal. The guide price is pointed out as a guide price only and buyers can visit the property and request the legal pack at any time.

In the auction room, as anyone who has actually attended one of my auctions, all the terms and conditions are firstly printed out on the walls to be seen and I read them out.

Buyers bid and if they are on or over the reserve, they win the property. Once the property has a bid on reserve I actually let people in the room know this by saying the property is in the room to be sold.

So I find it a little hard to swallow when you say there isnt total transparency.

After auction all bids are told to the sellers so they are aware exactly the situation of their proeprty in the market place. All offers without question are put to them. I follow the UK estate agents act closely and beyond it - there are no rules here as auctions in this manner do not exist in Spain

However, other companies who have tried the auction route have taken my lead both in due diligence and in fee structure.

PS auctions in the UK do not offer full money back guarantees - I do!

Caveat Emptor should be in mind wherever you purchase property. Good day to you all.



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05 Jun 2007 1:55 PM by Smiley Star rating in San Pedro de Alcanta.... 2502 posts Send private message

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Will be saying more on this but before casting aspersions and insinuations Tinto maybe you should attend a DA auction in person.

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