If you’re looking to buy property at prices below market value, it’s worth taking a look at distressed property sales in Spain.
Banks currently have hundreds of homes in the repossession process or about to enter it opening up the market to investors looking for cheap properties.
But before you start Googling for potential purchases, take a look at the Costaluz Lawyers Distressed Property Sales Service.
This gives you, the investor, three key benefits:
- You get direct access to properties in the process because we deal directly with Spanish banks.
- You have full legal guarantees from start to finish because our legal practice specialises in conveyancing.
- You get a better price because no third parties (e.g. estate agents) add commission. This can be as high as 6% so a commission-free purchase saves you a considerable amount.
Looking to invest in the best-priced Spanish property? Get in touch with us now.
What are Distressed Property Sales?
Distressed properties or repossessions are sold directly from Spanish banks.
They usually belong to the bank because the homeowner has defaulted on mortgage payments. Banks are generally keen to off-load repossessions from their portfolio as soon as possible.
As a result, properties tend to be well below market value and as a result, offer excellent investment potential.
Why Is It A Good Time to Buy a Distressed Property in Spain?
Distressed property sales in Spain are currently entering a boom period. The COVID-19 crisis, combined with the end of interest-free mortgage terms for loans taken out 10 years ago means that many homeowners are unable to meet payments.
Repossessions are on the rise, although many owners are looking for alternatives to avoid the process.
One of these is direct negotiation with the bank to allow them to hand back the keys and remove all debt obligations.
This means banks are more than willing to sell the properties at below market value prices to remove the asset from their books.
Contact us to find out which distressed properties are available to buy in Spain right now.
Why Choose Costaluz Lawyers For Distressed Property Sales In Spain?
We are specialists in helping homeowners in Spain with property problems. We have years of experience of finding solutions for owners who are ‘mortgage prisoners’.
This might be because they are no longer able to pay their mortgage, have negative equity or find themselves at the end of an interest-free mortgage with the subsequent rise in monthly payments.
As experts in helping people with mortgage problems since 2006, one of our particular strengths is negotiating with Spanish banks.
Years of fighting for consumer rights have given us bargaining power, and we have a strong track record of success in defending our clients’ interests.
We know exactly what makes Spanish banks tick and how to get the optimum deal for our clients, both homeowners and buyers.
We have found that one of the best routes to success is to have the interests of all parties at the core of negotiations.
We, therefore, agree on the best deal for everyone in a scenario where all three parties win.
The homeowner hands over the keys and rids himself of negative equity and all mortgage and debt obligations.
The bank is able to repossess quickly and easily and then off-load the asset to another buyer.
The buyer buys a property for a lower than market value price, free of third-party commission.
The investor also has full legal guarantees because at Costaluz Lawyers we have already checked the property.
Bottom line? Spanish banks listen to us and are prepared to negotiate the best deal.
They are even more likely to come to an agreement if we go to the negotiating table with an owner and a buyer.
A Win-win With Distressed Property Sales in Spain
Homeowners – if you have a mortgage on your Spanish home, get in touch with us if you face any of the following problems:
- Difficulty in meeting your mortgage payments.
- Higher monthly payments because your interest-free mortgage period has ended or is about to.
- Spiralling negative equity
With our expertise, we’ll find a buyer for your property so that we can negotiate quickly and easily with the bank, and you can walk away from your mortgage commitments with no debt obligations.
Investors – if you’d like to snap up a Spanish property at the best price, get in touch with us for:
- A lower than market value property purchase.
- Complete legal peace of mind.
- Savings on commission.
The Costaluz Lawyers know-how and expertise plus the surge in distressed properties offer the perfect investment scenario.
We’ll find a seller of the right property for you and negotiate the right deal for you at the bank so that you can enhance your portfolio.
Contact us now
Get in touch to find out more about our Distressed Property Sales service and how it can help you.