Bank Reposessions

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Costa Blanca Spain

Bank Reposessions...........

There are many "Stories" from those who "Know". Be aware!!

If you believe you are going to have a property reposessed look here .....

The truth about buying this type of property is, very elusive..!
Normally just moments away from going into a "public" auction.
If the properties reach the stage of going to auction in Spain they have cost the banks money..!! Reposessing..!!
These properties are normally taken out of the open market circuit and are bought by a couple of the largest investment companies who hold them untill the market lifts.
Theses auctions are a closed market within the spanish subasta market and it is hard to find out were those are and on which date and time..!

" So what do we mean Bank Repossessions? "

Private Individual Client Repossessions
First the banks want to help their clients and they do talk in a

" Humane nature ".

They will advise their clients to sell the property on as soon as possible because the financial risks take up a lot of the reserves from the banks. The bank will have to spend money and time repossessing.
( and we all know the banks do not like to lose or spend money !! )

The properties we offer are presented to us direct from the banks to prevent them from going to auction, the banks know the system and prefer to sell them on the normal way!!

" Comunication is the key"

The systems of buying a repossession directly from the bank is different from bank to bank, just ask us to help you with this.
We work with over 15 different independent banks in this area of Spain and they know us! We have a large network of over 500 International and Spanish Member Agents and Financial Advisers with investors waiting to buy and sell, many years of repossession and distressed sale, experience in Spain.

Every so often we get developer repossessions
When the developer finishes a project they have no alternative other than to foreclose on uncompleted sales. The developer will not return the deposit, ( From 10% to 30% of the original sales price ) 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 their next project.

" As Soon As Possible "

They have already received a deposit for the purchase price from the original buyer, they will often let the property sell at the original price (2-3 years ago). This results in the property being approximately 10-30% under the current market value. We can arranging up to 100% finance for our clients on these properties (subject to status and valuation). Obviously, these properties are the ultimate investment and usually sell within days.

If you are looking for a really good priced bank repossession, or have found one and need some help purchasing it, contact us.

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