In the past few years we have seen positive changes in the economic climate across Europe. Many things are beginning to change and one of these areas is the Bank Repossessions and what the banks are doing to clear their inventory.
“Several of the leading banks in Spain have now approached us to offer the best of their repossession property exclusively through us to our global network of buyers”
Previously, most bank repossessions never got anywhere near the public domain with the real bargains being sold to bank contacts or employees and the not-so-desirable properties not being sold to anyone. Banks preferred to keep a property on their books if they felt the price it would sell at wouldn’t be sufficient to cover the original loan plus costs and thereby built up a collection of assets with the intention of selling them off later at a price to cover any loss. This was a real financial gamble; not only for prices but they fact they where and still are spending millions on community fees and maintenance just to hold onto what is effectively ‘toxic debt’.
Now the banks are having to get their own houses in order and have realised that there is a growing market of buyers out there who are interested in these great bargains. They have been looking for ways to market these opportunities to the general public and can do so with low starting prices and great finance packages. However, they lack the expertise and knowledge to be able to provide clients with the level of service and assistance they need.
Often there is just a local key holder who only speaks Spanish and it can be often very frustrating and a complete waste of time to attempt to do it yourself. We hear stories where ‘individuals’ want a payment to just put the offer forward the offer to the bank and without expert advice and guidance you may not even be buying it at the best price you can, this is of course why it make sense for us to do it all for you.
Bank Repossession property now available through us
We are not talking unwanted properties on unfinished or “ghost” developments, but great value, highly desirable properties on consolidated urbanisations with fully functioning communities of owners. We can help you through all the ins and outs of buying a bank repossessed property as it is quite a different process to a standard property purchase and will work with you to make sure it is exactly the right property for you – as we do with all our buyers.
These repossession opportunities are available in all areas of the Costa Calida, Costa Blanca and Costa Almeria and at all price levels, starting from just €40,000 and with finance of 80-90%, and in some cases even 100% available (subject to status).
How can you take advantage of the amazing bank repossession opportunities out there? Simple, just talk to us.