The coastal city of Torrevieja is an excellent area to purchase property, and Spain’s recent economic crisis saw a substantial drop in prices resulting in a glut of properties on the housing market. Although a sad situation for homeowners who bought property before the crisis hit, it created a perfect opportunity for investors and private buyers to purchase property at rock bottom prices. With so many properties available, there is a huge amount of estate agents in Torrevieja and potential buyers are in a good position to negotiate on any properties they may be interested in.
Torrevieja is not a large city in comparison to the amount of estate agents in the area and due to this fact buyers should be aware that many of them will advertise the same property at different prices depending on the commissions the agents are adding. Even in this buyers market, property will probably be the biggest purchase any person will make in their lifetime so taking your time and being thorough in your property search is a wise idea. Most people are content with searching estate agents websites, newspapers and local Facebook buy & sell groups, but there are that many agents out there, not all will be found on the internet.
Visit Estate Agents
It can be hot and tiring work walking the streets of Torrevieja, but putting in a bit of groundwork can pay dividends, especially when it can literally save you thousands on your property purchase. Visiting estate agents in person will give you some idea of how big the company is, what type of overheads they have, which can reflect in the commission they charge, and most importantly give you the chance for a face to face chat. Unfortunately quite a few estate agents do not update their websites regularly enough, and many collaborate with other agents on properties so it is not surprising that quite often a property marked as for sale on an agents website has actually been sold, either by them or one of their collaborators, and due to bad communication the property status has not been updated. Property advertised in agents windows and display boards are far more likely to be updated on a regular basis, especially ones that are new to the market which is another good reason to window shop.
When visiting estate agents, prepare a list of questions you wish to ask, have your desired search areas noted and particular features you require in a property such as the amount of bedrooms, bathrooms, outside space, private or communal swimming pool, distance to amenities, schools in the area and distance to the beach. By doing this you are saving both the agent and yourself time and you will avoid the agent taking you to properties that they are keen to sell, rather than properties that suit your search criteria. You are there to part with a substantial amount of money and competition is fierce, so don’t be afraid to ask agents outright what their commission structure is and avoid using agents lawyers or ones recommended by them, rather find your own and be safe in the knowledge that the lawyer is working for you, not the estate agent.