subject: Bank Repossessions Spain - 90% Are Useless [print this page] There has been a lot of talk and interest about bank repossessions in Spain recently but do they really represent good value for the would be international property buyer or is there better value to had elsewhere? Whilst there is some great value in Spanish bank repossessions it would be fair to say that one needs to do a lot of work to actually find the gems that are real value and at serious discount below market value and whilst it is easy to register with bank sites that will give you there repossession lists the reality is 90% represent no value at all. One example of this was a CAM Bank repossession in Los Arqueros Golf in Andaluca that had an asking price of 310,000 and I could have walked you into a similar brand new apartment for 190,000. However if you know what your looking for bank repossessions do have some very good advantages especially for the local market where people just cant get mortgages or not the percentage they need to buy. The major advantage is that depending on the project some banks will lend up to 100% of the purchase price as they see that in turning bad debt into good debt and obviously if the borrower is not rated as a good risk the bank won't lend to them. The reality is amongst the dross there are some very good deals to be had so if your looking for a good Spanish bank repossession in the current property for sale Spain marketplace it is imperative that you use an agent with local knowledge to help you make a selection of properties that represent good value for money and don't end up with something that may look like a good deal on the outside but on closer inspection isn't really that good a bank repossession in Spain.
Bank Repossessions Spain - 90% Are Useless
By: Xana Sexta
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