Bank distressed / reposessed properties. Where? Links?
Mar 21st 2011, 1:17 pm
#1
Just Joined
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Joined: Mar 2011
Location: South Shields
Posts: 1
Bank distressed / reposessed properties. Where? Links?
Hola everyone.
Several estate agents on the Costa Blanca have told me that Spanish banks often advertise their own resposessed / distressed properties.
Benefit of this is maybe a cheaper price and easier to get mortgage, maybe at 90%.
Though, after hours of searching, I can find the odd estate agent that mentions that a property is a bank reposession - but not many.
Plus, I can't find ANY bank website that lists property.
Any thoughts? Links?
Thanks.
Phil
Several estate agents on the Costa Blanca have told me that Spanish banks often advertise their own resposessed / distressed properties.
Benefit of this is maybe a cheaper price and easier to get mortgage, maybe at 90%.
Though, after hours of searching, I can find the odd estate agent that mentions that a property is a bank reposession - but not many.
Plus, I can't find ANY bank website that lists property.
Any thoughts? Links?
Thanks.
Phil
Mar 21st 2011, 2:17 pm
#2
BE Forum Addict
Joined: Apr 2008
Posts: 3,171
Re: Bank distressed / reposessed properties. Where? Links?
Hola everyone.
Several estate agents on the Costa Blanca have told me that Spanish banks often advertise their own resposessed / distressed properties.
Benefit of this is maybe a cheaper price and easier to get mortgage, maybe at 90%.
Though, after hours of searching, I can find the odd estate agent that mentions that a property is a bank reposession - but not many.
Plus, I can't find ANY bank website that lists property.
Any thoughts? Links?
Thanks.
Phil
Several estate agents on the Costa Blanca have told me that Spanish banks often advertise their own resposessed / distressed properties.
Benefit of this is maybe a cheaper price and easier to get mortgage, maybe at 90%.
Though, after hours of searching, I can find the odd estate agent that mentions that a property is a bank reposession - but not many.
Plus, I can't find ANY bank website that lists property.
Any thoughts? Links?
Thanks.
Phil
If you have a Spanish bank account ask your manager , he will know of numerous people who cant pay their mortgage and want to sell , alternativley adverstise in the "property wanted" section of the expat magazines ,you will eventually get a bargain if you have cash waiting
Mar 21st 2011, 4:29 pm
#3
Lost in BE Cyberspace
Joined: Jan 2009
Posts: 5,368
Re: Bank distressed / reposessed properties. Where? Links?
One things for sure, all the best bargains will have been snapped up by bank staff!
Bank repossessions in Spain is closed market where the employees are being offered the properties first. Then partner companies get their choise of the bank repossessions in Spain, and latest are the general public
http://www.casauna.com/spanish_bank_...ns--art96.html
http://www.casauna.com/spanish_bank_...ns--art96.html
Mar 21st 2011, 6:16 pm
#4
On the road again.
Joined: Aug 2008
Location: On Top of the World
Posts: 17,507
Re: Bank distressed / reposessed properties. Where? Links?
Thats been the case as long as I can remember, with only the less desirable appearing on the open market.
However in these troubled times who knows, they might just have a few to spare for us mere mortals.
Mar 21st 2011, 8:38 pm
#5
Forum Regular
Joined: Jan 2011
Posts: 35
Re: Bank distressed / reposessed properties. Where? Links?
Agree they cant have That many friends
Mar 22nd 2011, 12:06 am
#7
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Re: Bank distressed / reposessed properties. Where? Links?
Mar 22nd 2011, 12:57 am
#8
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Joined: Sep 2010
Location: Near Alora....but not too near. :)
Posts: 1,646
Re: Bank distressed / reposessed properties. Where? Links?
Just this week La Caixa sent me a letter saying they have cheap houses for sale and to call in the office for details......they really must be getting desperate! 
