Bank Repossessions in Spain

About Bank Repossessions:                                                       Return to the property list!

Bank Repossessions naturally attract attention as they are associated with genuine bargains. In addition, we also list distressed and pre bank repossession properties, both new and resales. In many cases these can offer a better investment opportunity. Bank repossessed property may have been overvalued originally, if purchased before 2009, to maximise the mortgage for the borrower, and post repossession there will be legal charges on top of the outstanding debt.

This kind of transaction is more suited to the serious property investor, and the category of buyer is someone who has the cash ready to snap up a bargain to sit on until the market improves. Due to the nature of the situation with bank owned properties, in respect to each case, it may not be possible to supply further information on the property in advance, such as more photographs and rooms measurements etc, and in some cases it may not even be possible to view the property internally at short notice as appointments need to be made with the bank concerned to gain access.

Bank Repossesions are now in high demand and properties are being sold every day; in some cases multiple properties may be bought buy a single buyer or Investment Fund. These properties, located throughout Spain, are all sold for the value of the debt, in most cases at a fraction of the true value and of the market valuation price and include:

     o  Apartments, o  Penthouses, o  Townhouses, o  Villas, o  Fincas, o  Land Plots, o  Commercial Property,      o  Garages, o  Whole Urbanisations (Complete New Developments).

It is possible to make huge savings up to 70% from the original selling prices on some new developments and around 25% below the current market value. Since the system started recently in Spain hundreds of millions of Euros worth of property has already been sold.

The Banks and their Agents have the Power to Release further information to potential buyers and Investors once there has been a registration of interest. As an appointed intermediary, we are authorised to bring these opportunities to investors and to facilitate the process. As we are agents for many sources of bank repossessions in some cases there may not be an agent's commission included from the bank and in such cases we would need to charge the buyer a professional fee (plus IVA) for our services, of introducing, processing and administration etc.

Prices are more or less fixed by the banks, in the main it's a take it or leave it deal athough some negotiation may be possible depending on the property. The fact is that you are buying at the value of the Bank's defaulted mortgage loan and so the bank recovers its dues, which is all it wants.

Fees: As mentioned above, all applicable fees will be outlined at the outset. This is totally seperate from your own legal fees, Government taxes and closing costs usually associated in the buying process in Spain.

Note: All properties are offered subject to availability.

Let us know what you are looking for:

Iif you are looking for a genuine Below Market Value Property in Spain (BMV), please let us know what specifically you are looking for, i.e., the type of property wanted, town or area, and name the development name if you know it and we will reply quickly with specific properties matching your criteria.

Click Here to Search Our Database of Bank Repossessed Resale Property

Click Here to Search Distressed New Property Developments

For more information on Bank Repossessions in Spain or to arrange viewings please call (+34) 952 963937 or Email: propertydirectors@orange.es