Parador Properties

Antony28

I recently went to a open day in my local town regarding buying properties abroad that was hosted by Parador Properties. I haven’t been really looking to buy a place abroad but after going there it has really got me thinking, they offered me and my partner a four day inspection tour for £49 and stated that we were under no obligation to buy and that we would not be hassled whilst out there. Has anyone had any dealings with this company or been on there inspection tours?

They seemed very professional and said that they deal with everything for you and suggested that the purchasing a property in Spain could quite easily be self financing through renting it out, whilst also using it as a holiday home.

I am looking to spend about £100k on something.

Are there other companies that offer a similar service?

Thanks in advance for any responses.

Regards

Antony

david29dpo

be careful and use all you common sense! i when on one as a second opinion with a friend, talk about hard sell! he went ahead anyway and purchased off plan with a 30% deposit. this was 2 years ago and it is still not built! he is now trying to get his deposit back from spain and the best of luck! he is going to need it.

ageandjo

Yes there are loads, we have had dealings with Parador too but found in the end they were quite pushy.
The internet is a fab thing so I would do as much research yourself and book a couple of cheap flights and do it all yourself

missile

We did something similar 4 years back and it worked well. No hard selll and a very easy way to do it. However if I were buying now I would look for a re-sale and do it myself, rather than buying off plan. This is not so easy if you have no experience and do not understand the system. Many EAs will also give you a hard sell. All you need do is say NO and be very careful what you sign

There are many who offer free / reduced cost visits = Polair World, Atlas, QSD and MASSA.

grebbo

£49 including flights??

Any company offering that will certainly be expecting to sell you something. Personally I think it's best for clients to make their own plans - that way they don't feel hassled.

Ian_W

Antony28 wrote:

They seemed very professional and said that they deal with everything for you and suggested that the purchasing a property in Spain could quite easily be self financing through renting it out, whilst also using it as a holiday home.
Antony

They're salesmen they WILL tell you it could quite easily be self financing through renting it out but if it's Costa Blanca I would doubt you've any real chance of that as they've built hundreds of thousands of new properties over a very few years and many owners are trying to let them. Have a look on https://www.ownersdirect.co.uk and check out how many there are and what their availability is like. Massive over-supply of holiday rentals IMO.

We owned an apartment in the Canaries for over 8yrs and it did let out very well but we were lucky in that I could advertise FOC to around 10,000 well paid colleagues and picked up most bookings from them. We also made a good capital gain when we sold but development was quite limited compared to the mainland.

I wouldn't knock buying in Spain at all, it worked very well for us. But you do need to do your own research and it's helpful if you actually like the place you buy as you'll be spending most of your hols there! Cheap inspection trips are to sell a particular developers/agents property to you and IMO are a false economy. Go independent, look at new and resales, get a feel for the area and research letting yourselves - don't believe what agents tell you - EVER.

BoL.

gallygirl

OH & I went on an inspection trip with Parador last October, £49 for both of us. No intention of buying..... came back with 3 bed apt.......

We bought because we saw a property that ticked all my boxes (& I'm v precise in my requirements!!!).

As for Parador - I have nothing but praise for them. We had one rep driving us for 4 days - luckily we got on v well with him. He was quite open that he is on a commission only package. I had done research beforehand though and knew that the prices we were quoted were the same as are quoted for solo buyers - commission to Parador based on volume I suppose.

Put us up in a 4* hotel, great meals every lunch and night.

There was no hard sell whatsover, at any stage. We suspected reverse psychology it was so laid back! Our rep said it wasn't worth his while pressurising anyone into signing, then they back out when they get back to the UK and he has the hassle to cope with.

So, it's not for everyone - but there is def no flash lights and thumb screws involved.

Good luck if you decide to go.