About Us
Company profile
If you are considering buying a property in Spain or Tenerife, then choosing the right agent is your first and most important decision.
Beckham Overseas is an established business serving your needs with trust and confidence. Our business has been built on personal recommendations.
Our staff are on hand to advise you every step of the way. We can advise you regarding money transfers, mortgages, and we can also assist you in furnishing your new home. Whether it is your intention to move to Spain or Tenerife permanently or purchase as a holiday home we can help with arrangements of opening bank accounts, mortgage advice, lawyers, health care, schools and any other services which may be necessary.
We pride ourselves on a total ¨no pressure¨ approach when you make your enquiries with us.
Buying a property does not have to be complicated. Beckham Overseas will make your purchase run as smooth and as straightforward as possible. Our dedicated staff are always on hand and ready for all your enquiries regarding the purchase of your home in the sun.
Beckham Overseas specialise in distressed sales.
The market in Spain has now matured and although there are still fabulous off-plan property investments available, a new and exciting opportunity has arisen for investors, Distressed Sales (properties being sold well below the current market value).
About 4 years ago, off-plan property investment was something only practised by the hard-core investor or entrepreneur and was extremely profitable. However, with the internet and television programmes making off-plan investment easily understandable and available to the general public, the market is now somewhat saturated with new properties for sale.
The off-plan concept was to buy property with developers offering a discounted price if the investor exchanged at planning stage (before being built). Many investors bought with the sole intention of selling 2 years later at an increased price of approximately 20-30%. With investors only paying 30% before completion returns were very profitable. The benefits of the investors selling before completion were that tax and completion costs, could usually be avoided.
However, with so many investors trying to sell properties in each development, at the same time, just before completion, the market becomes saturated on that particular development, resulting in adverse effects on their selling price.
These facts coupled with adverse market conditions in the global financial markets mean many investors cannot complete their purchases and have no alternative but to walk away from their investments.
Some off-plan property Investors have a desperate need to sell before completion as either;
Their circumstances have dramatically changed (death, divorce, emigration, loss of job etc.), or
They exchanged/completed on properties they could not financially keep, with the sole intention of flipping (selling on)
These property owners are forced to make a decision, either;
Sell for far less than the market value (distressed sale)
Have the property repossessed by the developer/bank and lose their 30% deposit.
Repossessions
When the developer finishes a project he has no alternative other than to foreclose on uncompleted sales. The developer will not give back the 30% deposit, as they have not failed in any part of their contract, nor do they wish to profit from someone’s misfortune. The developer simply wants to leave the development and get on with the next project.
As we have 20 years of repossessions and distressed sale experience in the UK, we have recently been selected by a number of developers to market their repossessions professionally and with due diligence.
As already mentioned, the developers simply want to move on to their next project and as they have already received about 30% of the purchase price from the previous buyer, they will often let us sell the properties at the original (2-3 years ago) price or less. This results in the property being considerably less than the current market value. Obviously, these properties are the ultimate investment and usually sell within days, please register your interest at our
contact us section.