Bank Repossessions
There are many "Stories" from those who "Know". Be aware!! The truth is this type of property is sought after, very elusive!.....Normally just moments away from going into a "public" auction. If the properties reach the stage of going to auction in Spain they have cost the banks money!! Reposessing !! Normally taken out of the open market circuit and are all bought by a couple of the largest investment companies who hold them untill the market lifts. Theses auctions are a closed market within the spanish subasta market and it is hard to find out were those are and on which date and time!
So what do we mean " Bank Repossessions "
Private Individual Client Repossessions
First the banks want to help their clients and they do talk in a " Humane nature ".
They will advise their clients to sell the property on as soon as possible
because the financial risks take up a lot of the reserves from the banks. The bank will have to spend money and time repossessing
( and we all know the banks do not like to lose or spend money !! )
The properties we offer are presented to us direct from
the banks to prevent them from going to auction, the banks know the
system and prefer to sell them on the normal way!!
- Comunication is the key! The systems of buying a repossession
directly from the bank is different from bank to bank, just ask us to
help you with this.
We work with over 15 different independent banks in this area of Spain and they know us!
We have a large network of over 500 International and Spanish Member
Agents and Financial Advisers with investors waiting to buy and sell, many years of
repossession and distressed sale, experience in Spain.
Every so often we get developer repossessions If you are looking for a really good priced bank repossession, or have found one and
need some help purchasing it,
contact us.
Calle Comunidad Valenciana 70 / 42 (Almoradi) Alicante 03160 Spain
Mobile: (0034) 667 669 218 Office: (0034) 966 782 866 Fax: (0034) 966 782 866
Find out more about what we can do for you. The
services we provide.
When the developer finishes a project they have no alternative other than
to foreclose on uncompleted sales. The developer will not return the deposit, ( From 10% to 30% of the original sales price )
They have not failed in any part of their contract, nor
do they wish to profit from someone’s misfortune. The developer simply
wants to leave the development and get on with their next project.
As Soon As Possible
They have already received a deposit for the purchase
price from the original buyer, they will often let the property sell at the
original price (2-3 years ago). This results in the
property being approximately 10-30% under the current market value. We
can arranging up to 100% finance for our clients on these
properties (subject to status and valuation). Obviously, these
properties are the ultimate investment and usually sell within days.
Email:
info@encompassinternationalproperty.com