Bank Repossessions Costa del Sol
Due to our professional relations with some of the biggest banking institutions in Spain, we are able to offer our clients an extensive portfolio of bank repossessions on the Costa del Sol. These properties usually offer excellent value for money, to be in with a chance of securing a purchase of these types of properties, buyers are urged to act fast as numerous parties will also be interested in the same property. Nine times out of ten, Spanish bank repossessions sell within a matter of days!
A fair percentage of these repossessions are absolute bargains, deals you will never see repeated!
To be kept up to date with the latest bank owned properties, simply fill in the form at the bottom of this page to register your interest, once you have been registered one of our friendly members of staff will contact you to list your requirements and inform you about the excellent financial and repayment terms open to foreign buyers when you purchase through us.There are no properties matching your search
What to see more bank repossessions?
Other than this small selection, we have many more excellent value Costa del Sol bank repossessions available for you to see today. Simply register your interest and we will give you access to our whole "bank owned" database of properties and provide you with free information for property financing for foreign buyers planning to buy in Spain.
Frequently Asked Questions about Bank Repossessions ...
How are bank repossessions in Spain marketed and sold?
In Spain, bank repossessed properties (also known as "Embargos") are typically marketed and sold through real estate agents or auction houses. Banks will often list these properties with real estate agents who will then promote and market the properties to potential buyers. The properties are also often listed on property websites, which allow buyers to search for and view repossessed properties in a specific area.
In some cases, banks may also hold auctions to sell repossessed properties. These auctions are typically open to the public and are held by the bank or by an auction house appointed by the bank. The properties are usually sold to the highest bidder, and the proceeds from the sale go towards paying off the outstanding debt on the property.
It's important to keep in mind that bank repossessed properties are usually sold "as is" meaning they are sold in the condition they are in at the time of the sale, and the bank takes no responsibility for any defects or issues with the property. Additionally, the bank may also make no guarantees about the legal status of the property and about any debts or charges that may be associated with the property.
Overall, bank repossessed properties can be a good opportunity for buyers to purchase a property at a discounted price. However, it's important to carefully research the property and the market conditions before making any investment decisions.
Is it possible for a non resident to obtain a 100% mortgage in Spain?
It is possible for non-residents to obtain a mortgage in Spain, but the availability and terms of mortgages can vary depending on the lender and the individual's circumstances. Typically, non-residents will have to provide a larger deposit or down payment than residents, and the interest rates and terms of the mortgage may be less favorable than those available to residents.
A 100% mortgage is typically not available to non-residents in Spain as they are considered a higher risk by the banks, and they generally require a higher deposit or down payment. However, some banks may offer mortgages with a high loan-to-value (LTV) ratio (60% - 70% or higher) for non-residents.
It's important to note that the mortgage market in Spain has been affected by the financial crisis, and the availability and terms of mortgages can vary depending on the bank and the individual's circumstances. Additionally, the Spanish government has implemented various measures to reduce the risk of default on mortgages, which have made it more difficult for non-residents to obtain mortgages.
It's important to research and compare different mortgage options and to work with a reputable mortgage broker or bank to understand the requirements and terms of a mortgage in Spain as a non-resident.
What is the meaning of a "distressed property sale"?
A "distressed property sale" is a real estate transaction in which a property is sold quickly or at a reduced price in order to avoid foreclosure or to liquidate assets. These properties are typically sold by banks, mortgage companies, or government agencies that have taken possession of the property through foreclosure, or by property owners who are motivated to sell quickly due to financial difficulties.