What's all this talk about bank repossessions? What's changed recently to make bank
repossessions more interesting to buyers? How can I find a bargain bank repossession?
Over the last few years, with the huge changes we have seen in the economic climate across Europe, many things have had to change and fast. One of the most interesting areas where we have seen a huge turnaround is that of Bank Repossessions, not only in their perception to buyers but also in how the banks in Spain are dealing with them.
Previously, most bank repossessions never got anywhere near the public domain with the real bargains being sold to bank contacts or employees, and the not-so-desirable properties not going anywhere. Banks preferred to keep a property on their books if they felt the price it would sell at wouldn't be sufficient to cover the original loan plus costs, and thereby built up a collection of assets with the intention of selling them off later at a price to cover any loss.
Nowadays, the banks are starting to get their own houses in order and have realised that there is a growing market out there of buyers interested in these great bargains. They are looking for ways to market these opportunities to the general public and are able to do so with low starting prices and great finance packages, however they lack the expertise and knowledge to be able to provide clients with the level of service and assistance they need - something that a tried and tested, long running estate agent like PROPERTY COSTA DEL SOL can!