We’ve already talked about buying a property in Lanzarote, so let’s have a look at selling one in the current climate.
Background
The property market here is certainly showing signs of a recovery from the recession, but there are still lingering issues. There’s a lot of property for sale here, and the banks are aggressively marketing the houses and apartments they repossessed at the height of “El Crisis.” If you are looking to sell, you need to research the market thoroughly first to understand how many similar properties to yours are on the market, and secondly to see their selling prices. You don’t stand a chance of getting a buyer if the price you need is significantly higher than other, very similar places, and even if you can price match them, you need to try to find some unique aspect of yours that will make people look at it rather than all the others.
You should have two prices in mind before you contact agents. One is your preferred selling price, and the other is the lowest amount you are prepared to accept. I would advise having “trade offs” in mind as well. For example, you’ll take an offer of X, but that won’t include the furniture, or completion must be before a certain date. read more »