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Spain: Paradise Lost

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:lol:

Very sad programme. I blame the bankers. It was said a few times that credit was too easy to get "a passport and a pulse" was all you needed.

a few jugs of sangria and a day in the sun... wake up with a hangover and a 300K mortgage! :blink:

Edited by Bubble&Squeak

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Nice find, id love to leave here for spain so will be very interested in this. Thank you.

don't buy rent first as if it doesn't workout you can give notice and leave , its very hard to get work that pays a decent wage also if like me your other half doesn't settle you are not tied to a property ( seriously thought about staying on my own but splitting finances could not afford it as i loved it over there the happiest i have been for years been back 9 months now and hate it here) i know people who have been trying to sell for over 2 years so safer to rent for a year first to see if its what you want buenos suerte amigo

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Spanish property prices have been struggling for some time ...

I was looking at places last year in Los Gigantes , Tenerife that owners were unable to shift for 120, 000Euro - when you consider that they cost the best part of £60,000 in 1988 - not sure what the pesata equivalent was then to sterling(over 20 years ago !) then it`s hard to see how they could be treated as a serious investment...

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I've recorded the programme and I have it on in the background.

Sounds like a terrible mess they have gotten into.

Such a shame all those greedy feckers got shafted...still nevermind

Later I will crack open a bottle of cheap bubbly and play it again so that I can savour key moments.

I might even treat myself to some hula hoops,the barbeque flavour ones.

Aaah Spain such a beautiful country...and the people..oh the people are soooooo lovely

The weather,ohhhh the weather

And it's so cheap(well it will be)

Can hardly contain myself

Well must fly

Before I pop laughing

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It's all about horrible teeth from what I've seen of them. Expensive ridiculous sunglasses and teeth like a row of abandoned Spanish villas.

:P I'd have to bet she was a smoker.

He's on his turd broom now...

LOL

:P

As an old cynic, I admit my ******** radar is set pretty high, but that 'dream seller' in the last shot ...!?

Anybody who buys ANYTHING off that man is asking for trouble.

The worst kind of salesman to encounter - I think he really believed that stuff.

The program shows how big an impact psychology has in driving markets (madness). For anybody who's interested the web address of the auctioneers featured in the program is

http://www.direct-auctions.com/

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How to handle a pushy salesman - wear sunglasses to avoid direct eye contact!

Mandy was pretty cool, and not letting herself get too excited by the hype from the EA [who was trying his best to sell a very overpriced property].

Watch and learn.

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I think I'm usually as nasty and cynical as the next person, but I did feel sorry for this lot. Most of them, anyway, not so much for the family who took on the colossal mortgage. At least they didn't have a river of raw sewage flowing past their front door.

What I don't understand is why the EU, with all its meddling and law-passing on just about everything else, doesn't put some hefty pressure on Spain to clean up its rogue-developer act. Far more important to make farmers chuck out perfectly good cauliflowers that haven't been growing in the ground for 78 days (or whatever it is) I guess.

IMO the worst EA was the first, doing the hard sell to Mandy. 'Buy it NOW! NOW!' Reminded me of the dreadful bloke trying to get me to sign NOW! NOW! for £4K's worth of fitted wardrobes.

Good on her for holding out.

(I painted the old ones instead and put new handles on, cost around £60 :P )

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Kinda sums up capitalism...

we got cheap pushy repo auction ads in the ad breaks (North west)

The old girl decided to rent at the end :D

Well,she may have "decided" to rent. I get loads of people looking at cars who say "Oh yes I have the money in the bank" Then when it comes to the deal it's "What are your finance rates" I explain that if they have the money it's cheaper to use their own than pay a finance company interest. I know the next line off by heart "We thought we might keep that there for a rainy day ". All these foreign property shows are alike.punter gets a fortnight in Torrelmelinos at the expense of ITV/Channel 4 on the pretence of being in the market to buy.At the end Mandy/Sharon/Wayne/Darren decided not to buy. Am I a cynic?

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Its a great idea for her to rent and then she can check out area and look at loads of properties and see prices slide till she feels its the right time to jump in. Isnt that what a lot of us are doing on here?

Also, with the money she saves she can get some laser tooth whittening booked <_< those teeth will not go with a nice spanish year round tan.

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What a t0sser he was. Fortunately she seems to be made of sterner stuff.

I liked the line where the Yorkshire woman asked for a discount and the EA (female) said that they had already negotiated the best discount for the buyers.

Do EA work for the buyer in Spain?

:lol::lol::lol::lol:

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Have to say I really enjoyed the show, and I liked Mandy. Wanted to hate her at the start but she was good.

My mum had a place very near to La Zenia and was incredibly lucky to sell it just two years ago (following the death of my father). Had I not 'had words' at the time, she'd have held out for more money and be still trying to sell.

The EA's were pretty much scum. Nicely presented in some instances, but scum.

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The EA's were pretty much scum. Nicely presented in some instances, but scum.

I dont know why you guys get so upset by EAs. They are just sales people, they want to get the highest price. Just like car sales people, in fact all sales people really.

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Have to say I really enjoyed the show, and I liked Mandy. Wanted to hate her at the start but she was good...

I got the feeling though, that if she ever does get round to buying, she will buy what she considers to be the best 'bargin' (ie most reduced from xxx million euro) rather than something that suits her needs that also leaves some cash in the bank.

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I am every salesmans nightmare.

Anything worthwhile sells itself, so the more they push the more rats I smell.

Love the Atlas salesman who facilitates all those dreams.

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£400 000 Euros for a poxy flat in Spain, are they mad.

We spent some years touring southern Europe in an old motorhome to see if any place felt right.

The Spanish costas were dismissed fairly early on, & the barren concrete flats were circa £35,000 then!

I'm not saying the concrete & golf is any better in Portugal either, but inland ( a little) certainly is; especially in winter.

Reality Valuation Service:-

1) Do you want to live there? - No

2) Will it rent out? - No

Value - Zero

___________________

1) & 2) plus:-

3) Are there annual costs? - Always

4) Are there problems? - Of course.

Revised value:- Negative

Edited by Laura

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NOT JUST SPAIN!

Written in 2006

Well over a million Britain’s now own holiday homes abroad. Our love affair with owning ‘a place in the sun’ has never been greater. As ever Spain, France, Italy and Portugal are proving popular. More recently as prices have been pushed up in these countries we’ve looked further a field. To places like Slovenia and Croatia in what was the old Socialist Federal Republic of Yugoslavia. You can’t beat the Dalmatian coast only don’t dig too deep in the back garden, as mass graves are commonplace and 20,000 bodies are still unaccounted for. They don’t put that in the sales presentation. Recently Latvia, Bulgaria and Romania are being pushed as the next hot, ‘Fly to Buy/Fly to Let’ leading edge locations. When buying abroad its important to recognise that the laws, processes, customs and practice, for the transfer of unencumbered title to land and property, are not the same as in the UK. We hear horror stories, where unsuspecting Brits having bought abroad, only to find themselves with no end of problems, having either been duped or failed to take appropriate precautions. Be it problems with the escritura (title deed) or building permits in Spain, Villas built on war expropriated land in Northern Cyprus or inheritance/tax issues in Monrovia. As mentioned earlier with countries like Romania and Bulgaria now being pushed as destinations to buy holiday homes, the term Caveat Emptor has never been more appropriate.

If you’re not entirely happy with the reputation for honesty of Estate Agents at home here in the UK, wait till you meet some of the ex Transylvanian Donkey rustlers selling unsuspecting Brits holiday homes in Tulcea and Constanta on the Black Sea! Where next? Ski lodges in Nagorno-Karabakh, just 8 days yak ride from Baku international airport. Or Beach Villas on the Aral’s Sea health Spa, specialising in chemical body scrubs, with all the toxic pollution you can drink. “Prices start at 3 million Dram (£15,000), 10% discount if you buy off plan. Legal title guaranteed by The South Caucasus Development Corporation of Kazakhstan All deposits underwritten by the Bank of Chechnya, as advertised on Channel 4 by the regional goodwill ambassador Borat! Don’t miss this ground floor, investment opportunity of a lifetimeâ€â€¦â€¦â€¦.. I mean seriously they are now advertising apartments in Ulaan Baator Mongolia, to us Brits, as a fly to buy investment destination. The decedents of Genghis Khan must by laughing into their celebratory 'airag' (fermented mares milk) cocktails!!!

Don’t let the next, up and coming, leading edge location that’s being pushed as a must have investment, turn from leading to bleeding edge for you!

I can only think that on arrival in a hot country the caution we would normally exercise when about to spend (and in most cases borrow) a life changing amount of money, goes out of the window. Maybe it’s the heat, the warm sea, the swaying palms and unfamiliar, intoxicating, aromas of the exotic, which relaxes our guard. Alternatively it could just be that our natural caution is blunted by materialistic desire, brought on by greed, masking itself as a dream in which many temporarily part company with commonsense. There are many great investment opportunities out there, but to safely take advantage of them you need to exercise the same level of caution and due diligence, you would back home and then some!

MAD DOGS & BRITS!!!

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WHAT A LESSON these poor people have learned!

They will remember it for a lifetime, and pass it to their children.

Maybe their grandchildren will repeat the mistake /

Remember: Lessons of the Grandparents ??

Nice article, Dr B. The anecdotes about holes in socks, the tent in Grandfather's garden, and bean soup really bring it home.

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I dont know why you guys get so upset by EAs. They are just sales people, they want to get the highest price. Just like car sales people, in fact all sales people really.

No, they are far worse than car sales people.

A car salesman doesn't make unsubstantiated claims about investment potential, growth, future saleability etc.....

Many many of them have been complicit in driving house prices to ridiculous levels.

They have no regulation, have no legal need to justify their actions, yet they can influence people into parting with absolutely vast sums of money.

Other people in the financial sectors have to justify advice for far smaller sums, but these bastards have a free reign to do whatever they wish.

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No, they are far worse than car sales people.

A car salesman doesn't make unsubstantiated claims about investment potential, growth, future saleability etc.....

Many many of them have been complicit in driving house prices to ridiculous levels.

They have no regulation, have no legal need to justify their actions, yet they can influence people into parting with absolutely vast sums of money.

Other people in the financial sectors have to justify advice for far smaller sums, but these bastards have a free reign to do whatever they wish.

This is a superb reply hedge, nice one.

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Spanish property prices have been struggling for some time ...

I was looking at places last year in Los Gigantes , Tenerife that owners were unable to shift for 120, 000Euro - when you consider that they cost the best part of £60,000 in 1988 - not sure what the pesata equivalent was then to sterling(over 20 years ago !) then it`s hard to see how they could be treated as a serious investment...

was at the cliffs....in about 1989....174 ish potatoes exchange if i recall correctly

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Just to add to the expats misery. (Some misconceptions regarding UK repos in the main script though)

http://www.marbella-lawyers.com/articles/s...ing-on-mortgage

Lawbird Lawyer Says:

Mon, Jun 15th 2009, 10:21

Dear Spanish resident, You may not have assets now but in time you will. i.e. inheritance. The Spanish lender will have you blacklisted in Experian and others barring you the possiblity to acces UK mortgages. The dealine to pursue the mortgage debt is 20 years. However, if the lender within those 20 years communicates the debt or tries to contact the borrower the deadline is renewed, each time. So basically, unless you are very lucky, they will pursue you for the remainder of your lifetime. And quite certainly at some point or other you will have assets.

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