What about Bank Repossessions?20/05/2013
In Spain, there are still many bank repossession properties available, many more than in any other country. So, the Spanish banks want to reduce the numbers of properties on their books. For the buyer this means that the time has never been better to acquire a property on the Costa del Sol.
Why buying repossession properties is cheaper?
Many people who want to sell their property wait many months or years in order to receive the perfect offer. Sellers generally don’t want to make any concession on their target price. On the contrary, for the bank, the house is a troublesome asset and their priority is to sell quickly, even if they must sell at a cheaper rate.
How much cheaper are they?
Prices are up to 80% less than the market value. Another bonus is that there is usually no chain involved – often you can be inside in just few days. Repossession properties from Properties247 start in the region of €90.000 for a two bedroom apartment. These are repossession properties located in key touristic areas of the Costa del Sol, including apartments, villas and townhouses which offer a high build standard with luxurious fixtures and fittings.
Seeking a good investment?
Through our network of real estate associates, Marbella Property Warehouse has exclusive and direct access to local bank repossession listings. Our clients are given the privilege of being amongst the first people to hear of Marbella properties once the bank has taken possession. It is here that many clients are able to purchase a new home below the current market value with the benefits of 100% mortgage – due to changes in the EU this level of financing will be scarce so it is recommended that clients act fast!
Comments are closed.