Repossessions in Spain - Is it really worth all the bother?

Repossessions in Spain - Is it really worth all the bother?

Sometimes but not most of the time!



A lot of our UK customers seem to think there is a car boot sale occurring all over Spain. Partly true. But not for good quality property - here we have a buyers market for sure, but they still remain superb properties at amazing prices if you allow us to help with a quality service and effort.

We have been approached on numerous occasions recently by various Spanish banks and hangers on (people who know bank employees), wanting to feature their bank repossessions as part of our distressed Spanish property portfolio.Whereas we have no problems looking at opportunities for our clients, and in some cases it makes sense, you have to tread very carefully.

But having looked into the repossessions market here in Spain, and in our opinion, there are a number of obstacles to overcome before you can successfully (and confidently) promote the concept.

No Control

With Bank "Repossessions", as a client looking to buy a cheap Spanish property, you are completely in the hands of the bank and their representatives. We have heard nightmare stories about banks changing the prices at the last minute, and being very vague on property information. We think only a very small percentage of these Spanish repossessions are actually genuine ´bargains´ - most of the really good properties are snapped up by bank staff or families while the rest of the properties are usually rubbish, low quality properties with paper thin walls in poor developments or in the centre of cities where our majority of clients do not want to be.

In a few scenarios, a developer has gone bankrupt and the bank needs cash to salvage something from the situation. Very often, the true value can also be much lower than even the discounted price from the bank.

Cheap but nasty

Repossessions they may be, but as far removed from a genuine bargain as you could get. These are the properties that I keep telling my clients that will be on the market in 3,4,5 or 6 years time.

You get the property you deserve

If you don't listen, and you don't take the time to get it right you will join the many people who are buying properties in haste, to repent at leisure for years.

As we look after many clients and lots of agents we are so careful that we get it right I know we have lost many clients in the last 6 months who have ignored our advice and bought badly. We cannot impinge on customer choice, we are not that influential!

Look, listen and learn from us


All of the properties we promote are via our quality network and via our quality partners, we work with you to make sure we have listened so we can help you not make a mistake in securing your Spanish Property Bargain.

Its your move, and it's your money.....