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-   -   Bank Reposessions Website (https://britishexpats.com/forum/spain-75/bank-reposessions-website-697516/)

AdrianTO Dec 19th 2010 5:02 am
Bank Reposessions Website
 
Apparently this site lists properties reposessed by Spanish banks. I have been looking at some of the stuff listed, and they still appear to be overpriced. Has anybody tried this site before? Are these prices open to offers?

http://www.pisosembargados.com/

I am seeing 2 bedroom properties listed for around 280,000 Euros in Marbella. Which is probably a 100K over what I think they are worth.

missile Dec 19th 2010 5:54 am
Re: Bank Reposessions Website
 
I am not looking to buy, but a friend who is told me CAM bank repossions are overpriced and they do not negotiate. Upside is you may have a better prospect of getting a mortgage.

I did have a passing interest in a large repo villa whch IMHO seemed very reasonably priced, so I guess you need to decide for yourself. It is not so easy to determine the current market value in spain as it is in UK.

guesswork Dec 19th 2010 7:30 am
Re: Bank Reposessions Website
 
Originally Posted by AdrianTO (Post 9049582)
Apparently this site lists properties reposessed by Spanish banks. I have been looking at some of the stuff listed, and they still appear to be overpriced. Has anybody tried this site before? Are these prices open to offers?

http://www.pisosembargados.com/

I am seeing 2 bedroom properties listed for around 280,000 Euros in Marbella. Which is probably a 100K over what I think they are worth.
I have just looked at the apartments where mine is and they are priced at very near the 2007 prices. On the BBVA website for distressed sales they are up for approx 70000e less

AdrianTO Dec 19th 2010 10:54 am
Re: Bank Reposessions Website
 
Upside is you may have a better prospect of getting a mortgage.
They mention 100% financing on the website. What the qualifications are, is anybody's guess.

Originally Posted by guesswork (Post 9049768)
I On the BBVA website for distressed sales they are up for approx 70000e less
What site would that be?

johnboy1 Dec 19th 2010 11:06 pm
Re: Bank Reposessions Website
 
Originally Posted by AdrianTO (Post 9049582)
Apparently this site lists properties reposessed by Spanish banks. I have been looking at some of the stuff listed, and they still appear to be overpriced. Has anybody tried this site before? Are these prices open to offers?

http://www.pisosembargados.com/

I am seeing 2 bedroom properties listed for around 280,000 Euros in Marbella. Which is probably a 100K over what I think they are worth.
Have a look here. http://www.altamirasantander.com/index.jsp?lang=EN

also http://www.connellsoverseas.com/

Rightmove have a lot of repos discounted properties too.

ShinyAndy Dec 20th 2010 1:50 am
Re: Bank Reposessions Website
 
Originally Posted by AdrianTO (Post 9049582)
I am seeing 2 bedroom properties listed for around 280,000 Euros in Marbella. Which is probably a 100K over what I think they are worth.
Subscribe to fotocasa.es, there is a 400m2 4bed/3 bath townhouse in La Mairena for 235K and a whole raft of cheap 2 beds for well under 200K. I am yet to see any decent deals from the banks yet

Nige Dec 20th 2010 2:50 am
Re: Bank Reposessions Website
 
La Caixa is a large bank and they have their own portal for selling repossessions.

http://www.servihabitat.com/svhPortal?idioma=3

guesswork Dec 20th 2010 6:24 am
Re: Bank Reposessions Website
 
Originally Posted by AdrianTO (Post 9049988)
They mention 100% financing on the website. What the qualifications are, is anybody's guess.



What site would that be?
http://www.bbvavivienda.com/

Nige Dec 20th 2010 6:50 am
Re: Bank Reposessions Website
 
This is an interesting graph on http://www.spanishpropertyinsight.com
shows the trend since 1st Quarter 2006 of sales to Foreigners. Explains the glut of holiday homes and the problem the banks have.
http://www.spanishpropertyinsight.co...gners-q310.jpg

jdr Dec 20th 2010 7:41 am
Re: Bank Reposessions Website
 
Originally Posted by Nige (Post 9051741)
This is an interesting graph on http://www.spanishpropertyinsight.com
shows the trend since 1st Quarter 2006 of sales to Foreigners. Explains the glut of holiday homes and the problem the banks have.
http://www.spanishpropertyinsight.co...gners-q310.jpg
And they are still building big blocks of apartments near us. :eek:

jojojojojo Dec 20th 2010 8:41 am
Re: Bank Reposessions Website
 
I've heard that the banks give reputable estate agents first refusal of selling decent properties and the stuff that they have left is "the rubbish" that no one wants - I doint know if thats true though it was an estate agent that told me, but they do get some pretty amazing properties from bank repossessions!!!!

Jo xxx

jdr Dec 20th 2010 8:45 am
Re: Bank Reposessions Website
 
Originally Posted by jojojojojo (Post 9051934)
I've heard that the banks give reputable estate agents first refusal of selling decent properties and the stuff that they have left is "the rubbish" that no one wants - I doint know if thats true though it was an estate agent that told me, but they do get some pretty amazing properties from bank repossessions!!!!

Jo xxx
All the banks want is the money they are short of, even better if goes to a friend or relation. ;);)

AdrianTO Dec 20th 2010 3:40 pm
Re: Bank Reposessions Website
 
Originally Posted by jojojojojo (Post 9051934)
I've heard that the banks give reputable estate agents first refusal of selling decent properties and the stuff that they have left is "the rubbish" that no one wants - I doint know if thats true though it was an estate agent that told me, but they do get some pretty amazing properties from bank repossessions!!!!

Jo xxx
I think it is a line they are feeding you. According to another website the agents are whining about how low the commissions are that it is not worth their while to market these properties. Maybe the truth is somewhere in between.

http://news.kyero.com/2010/07/21/spa...erty-recovery/

Spain’s banks are deliberately stifling the property recovery they are desperate to see by screwing agency commission rates down to 1.5% to 3%; and by forcing developers to the wall.

“It’s a mess,” says Greg Butcher of developers Ocean Village Gibraltar. “The Spanish banks just don’t respect property agents in Spain.

It is a very, very difficult situation … there is no margin for the sales network to reinvest and lots of agencies are not going to be able to make a profit.”

jojojojojo Dec 20th 2010 7:21 pm
Re: Bank Reposessions Website
 
Originally Posted by AdrianTO (Post 9052521)
I think it is a line they are feeding you. According to another website the agents are whining about how low the commissions are that it is not worth their while to market these properties. Maybe the truth is somewhere in between.

http://news.kyero.com/2010/07/21/spa...erty-recovery/
Maybe, altho I have seen them do a couple of quite lucrative deals on repossessions that they've just completed, one in particular wasnt even a "legal build", but the bank did all the work to make legal for the new owners with the help of these agents! They are very "friendly" with one particular bank.

Jo xxx


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