Bank-Repossession-Spain

 

 

What is a bank repossession in Spain

When looking for Spanish property you will often find property that is being offered under "bank repossession", "direct from the bank", "forced sale" or "repossessed by the bank". In all cases these are properties that have been repossessed or taken back by the bank. A Spanish bank has given a mortgage to a private person or a developer with their property as collateral. Just like back home the property will be repossessed if the debtor does not fulfill his or her financial obligations. In the end the bank becomes the owner of the property.

Why do Spanish banks sell bankrepossessions

As is very well known, Spain has been hit hard by the recession and bank repossessions are common in Spain nowadays. The Spanish banks prefer to have liquid assets instead of having assets in bricks and mortar. The banks would like to convert bricks and mortar into cash again and therefore they want to sell their properties as soon as possible. This is why the bank stock is offered with 50 to 70% discount on the original prices.

The time to buy is now

The market has bottomed out and the banks are now selling Spanish apartments, townhouses and villas at rock bottom prices. The time to buy is now. Following is a selection of bank repossessions; apartments, townhouses and villas in Southern Spain.

Bank repossession Marbella - was € 520.000,- NOW € 290.000,-

 
bank repossession Marbella Nueva Andalucia walking distance to Puerto Banús  

Very luxurious complex in the exclusive area
Nueva Andalucia. Only a few minutes walking 
distance to the Puerto Banús Marina.

More information >>

Bank repossession Benahavís - was € 440.000,- NOW € 165.000,-

 
bank repossession west marbella benahavis torremolinos townhouse  

Modern townhouse in exclusive complex.
Three bedrooms, parking, communal pool and garden.
More information >>

Bank repossession Mijas Costa - 65% reduced NOW € 94.500,-

 
Apartment bankstock Mijas Costa hilltop location sandy beaches  

Apartment from bankctock. Hilltop location, only 5 minutes
to beautiful sandy beaches. Two bedrooms, two bathrooms,
communal pool & garden.
More information >>

 

Apartment in Elviria, Marbella >       Apartment in Los Monteros >           Apartment in Benahavís >

 

 

 

 

 

 


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