How much lower bidding on a house in Spain?

It is a persistent urban myth that in Spain you can bid much lower when buying a house. As in the Netherlands, there are 3 groups of sellers:

• Sellers who want to get rid of their house quickly. Think of emigration, inheritance, changing family circumstances or financial problems
• Sellers who are trying to hit the jackpot. They are not actually planning to move yet, but when someone comes along who is willing to pay way too much they adjust
• Sellers who have several months to sell and want a normal market price

Of course, the vast majority of sellers are in the latter category. They know what they have and they are not in a hurry. Those who are in a hurry often have already factored this into the asking price. Well, and the category of fortune hunters won't sell for less in the first place. Besides, if you really want to sell, you're not going to put a €300,000 house up for sale for double that. If your potential buyers search up to €400,000 on the sites of real estate agents they won't even see your house.

Of course, you can always try to haggle about 3-10% off the purchase price. But much better still is to see what the house is really worth. To do that, engage a buying agent. Negotiating is a profession and that certainly applies to the valuation of houses. In Spain it is often difficult to compare houses and purchase price lists are not available. Local knowledge comes in handy.

Finally, a small reassurance: bidding more than the asking price, as is common in the Netherlands, does not happen much in Spain.

It is a persistent urban myth that in Spain you can bid much lower when buying a house. As in the Netherlands, there are 3 groups of sellers:

• Sellers who want to get rid of their house quickly. Think of emigration, inheritance, changing family circumstances or financial problems
• Sellers who are trying to hit the jackpot. They are not actually planning to move yet, but when someone comes along who is willing to pay way too much they adjust
• Sellers who have several months to sell and want a normal market price

Of course, the vast majority of sellers are in the latter category. They know what they have and they are not in a hurry. Those who are in a hurry often have already factored this into the asking price. Well, and the category of fortune hunters won't sell for less in the first place. Besides, if you really want to sell, you're not going to put a €300,000 house up for sale for double that. If your potential buyers search up to €400,000 on the sites of real estate agents they won't even see your house.

Of course, you can always try to haggle about 3-10% off the purchase price. But much better still is to see what the house is really worth. To do that, engage a buying agent. Negotiating is a profession and that certainly applies to the valuation of houses. In Spain it is often difficult to compare houses and purchase price lists are not available. Local knowledge comes in handy.

Finally, a small reassurance: bidding more than the asking price, as is common in the Netherlands, does not happen much in Spain.

We are happy to help you find your new dream home or sell your existing Spanish home. Good guidance will save you a lot of stress and ensure that you will not be faced with unpleasant financial surprises. Just contact us and we will be happy to help you!