Corner Townhouse in Calahonda


Townhouse with 3 bedrooms and 2 bathrooms, large living room with fireplace. very quiet and close to shops.
Number of floors: 2
Poolin the community.
Built year: 1990
Bank repossessed property.

Price: 180000 euro

Ref no: BKR9001-1-4727

Bank Repossessions

Now is a great time a property investment in Spain. Significant price reduction, distressed sales, motivated sellers and threat of repossession by the bank, means that there are bargains in the current market in Spain and on Costa del Sol!

Bank repossessions property sales are properties to be sold quickly and this can be for several different reasons. In the current market Рthe main reason for the sale of repossessed  properties on the market because the owner not being able to keep up with mortgage payments that were set in terms of bank payment mortgages. Many repossessed property sales on Costa del Sol are also due to personal reasons. There are also many newly built repossessed apartments which was finished 2007 and 2008. When the international crise came, the development companies could not sell and was not able to keep up with mortgage payments.

Why buy a bank repossession property?

Most often, this type of property, are less than market value and prices are negotiable. Not only do the buyers get the opportunity in buying a cheap property, in some cases below bank valuation, but the seller can sell their property quickly.

Bank Repossessions:

We work closely with banks such as Cajasur, Banco Bilbao Vizcaya, Santander, Banco Popular, Unicaja, among others, who have a large portfolio of Repossessions in order to give you the best options.

Mortgages up to 100% are available to residents and non residents on selected bank repossessions. Other bank repossession properties offer a 80  to 90% mortgage to non-residents and 100% to residents and Spanish Nationals. All mortgages are subject to financial status and all clients applying for a mortgage will be required to demonstrate that they have the funds available to cover any deposit as well as their legal and transmission costs in respect of a purchase.

The Bank will consider all realistic offers from prospective buyers and we will assist you throughout the whole purchasing process.

If you are looking for a bank repossession property in Spain – you are welcome to contact us today and we will be able to advise you on what properties are for sale within your budget.

We speak english, spanish, swedish and german.

How To Buy Spanish Property Repossessions

Are you a potential buyer searching for the best deal going on Spanish property?

Then bank repossessed property in Spain could definitely be for you!

But, what exactly are Spanish property repossessions and how do they come about?

Well, when people get seriously into debt, anything they own of value – such as property, cars, boats – can be legally “seized” or “repossessed” and sold to the highest bidder.

When a property is repossessed, it’s very often because the owner owes money to a bank or financial institution, and is unable to pay the mortgage.

If the individual banks or financial institutions don’t manage to sell the repossessed property – and, in Spain, they don’t usually make a tremendous effort to do so – the property will eventually go up for Official Public Auction in a Spanish Court of Law.

In Spain, up to three Public Auctions can be held for any given property.

With the first two, a guide price or reserve is set, this guide price being lowered for the second Public Auction.

If no-one buys the property and it goes to a third Public Auction, the guide price is completely removed, and the property will go to the highest bidder – however low that bid!

This, of course, is when you can bag real Spanish property bargains!

Repossessions in Spain vary from countries such as the UK, where strict regulations exist to ensure that banks or building societies obtain the best offer for any property.

And the result?

You can get terrific bargains buying repossessed Spanish properties!

What’s more, you’ll discover there are a variety of ways of stepping in and buying the repossessed property before it actually gets to Public Auction!

So, do give some thought to Spanish property repossessions.

If you’re considering buying a place in Spain, you’ll have to do a fair amount of property research anyway.

The main reason for this is that, in Spain, absolutely anyone can open up as a real estate agent.

There’s no need to have any qualifications … or even to speak Spanish for that matter!

So, when buying a normal property through a real estate agent in Spain, you’ll need to know what you’re doing and employ your own lawyer to act on your behalf.

You’re sure to enjoy both the experience … and the profits!