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Analysis of the purchase and sale transaction

The Customer referred to us with a request to analyse his forthcoming transaction on the purchase of apartments in Fuengirola. This town is located 8 km from Marbella, which is a very expensive and high-status resort.



The Customer is a very wealthy business man with an extensive experience in conducting the purchase and sale transactions, having visited Spain on holidays with his family often. He has found an apartment to purchase, with an area of almost 220 square meters, with an adjoining large, comfortable, safeguarded children's playground. The cost of the apartment amounted to EUR 680,000.

Our Customer has requested a loan of 50% of the transaction amount for this purchase. However, according to real estate agents, the bank was not ready for such a transaction, and it was practically impossible to reduce the cost of the transaction itself, since the owner of the property did not want to reduce the price. An intermediary agency was ready to reduce the cost by EUR 30,000, subject to the sale without furniture. The transaction was almost ready, and the Customer has applied to us not so much with confidence that we were really able to help him, but more because of curiosity: whether it was really possible to improve something in the transaction? He referred to us upon the recommendations.

During the study of this transaction, it was found that this property belongs to a business entity, not an individual. Due to inability to continue to pay the loan on mortgage, this property is in the process of a possible seizure by the bank and immediately listed for sale. The amount of a mortgage amounted to EUR 250,000. The Customer has requested EUR 340,000 of the loan on mortgage under the transaction. Therefore, the bank was not willing to fund it in the amount of the previously existing mortgage, i.e., EUR 250,000. The owners of the apartment were in the emergency of the sale, and agents set an unreasonably high selling price. It often happens in practice, and a new buyer is almost always unaware of the actual proposals.

We gave reasoned recommendations on the possible reduction in the purchase price.

Also, we provided the Customer with, as an alternative consideration, information on a similar property on the coast 20 km away from the provincial city of Castellon in the Marina Dor tourist complex. The cost of the apartment was half as the price.



As later our Customer remarked our information enabled him to negotiate successfully and achieve an acceptable reduction in the selling price and complete the transaction successfully.


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