Property repossessions Spain

[totallyproperty]

Even though the Spanish property market is showing some signs of recovery, with Chinese and Russian investors showing interest, property repossessions Spain is still a very hot topic. After the collapse of the euro many Spanish banks were left with defaulted properties many of which are still overhanging the market. There is a growing consensus that Spanish banks will look to offload their unwanted property assets in the short to medium term and there could be some bargains to be had.

Have you any experience purchasing property repossessions in Spain?

 

[DC]

I have sold repossessions and in this area they are a nightmare, many agents will not touch as the banks are clueless at organisation and marketing.

 

[DanielP]

Hi

The bank repossession market is something not very beneficial for families because the bank entities do not negotiate

 

[MaxMarbella]

I agree with DC, as an estate agent we also do not like to work with banks. They do not have a clue when it comes to selling, they are happy to try and steal your clients however. for example we have had clients who have decided on a property but want a mortgage, they go to the bank and the bank will say, are you sure you want that property, have a look at ours we can find you something much better.

 

[CristianSelected]

In my experience Bank repossessions are the way to go many times because prices.
They are able to loose more money on property than private owners at the moment.