Spanish Repossessed Properties
In the current economical climate it's no wonder that we have seen a tremendous increase
in bank repossessed properties not only in the UK but also across the globe and
especially in Spain.
Repossessions can come in all shapes and sizes and affect all property types
including businesses and private property owners.
The obvious advantages to the property buyer include acquiring a property at greatly
reduced prices and the benefit of buying direct from the bank in possession.
We now have access to some excellent repossessed properties for sale in Spain and
have listed them below. All are available and come with bank valuations
Spanish Repossessions
Our list of Spanish repossessed properties currently for sale direct from the banks
in Spain this month. Each month this list will be updated with new repossessions
so please bookmark this page and check back regularly.
For more information on any of the above properties please fill in the contact form
below, stating the property reference number and we will contact you with more details:
ENQUIRY FORM
Please email us for further details on repossession properties for sale in Spain:-
sales(at)property-abroad.com
Buying a Repossessed Property in Spain
The process for purchasing these is as follows: - 10% plus VAT has to be deposited
with the lawyer of the Bank Agency and they will then release the information. (Description
of property, search, conditions of mortgage).
Once we have the information we have to communicate if we are going ahead and completion
is prepared as soon as possible.
On completion we pay the full amount to the mortgage bank and take over the debt.
We will then register this deed at the Land office (this takes about 4 weeks).
Further costs to cover are 1% legal fees + VAT, Notary and Registration fees and
1% stamp duty. At the same time, we would prepare the proceedings of the debt execution.
The costs of the execution will also depend of the value and we would provide you
with an estimate of costs in each case. We estimate the costs to be about 7% of
the value.