What are Spanish bank repossessed properties?
Repossessed homes or real estate owned (REO) are properties that have been foreclosed by the Spanish Bank because their owner failed to make payments.
Generally the Spanish Banks repossess the homes and therefore they want to sell them to the general public. As a result the banking companies want to sell these repossessed residences as quickly as possible in order to reclaim money they lost by the delinquent loan. This offers opportunities for new homebuyers and investors. You can buy these bank owned homes with a discount, priced below the actual market value, and negotiate about a tolerate funding.
Why buy direct from Spanish Banks?
We offer you direct access to bank owned properties and developments, the inside track to the banks best deals on distressed, repossessed residences in Spain. Every request will go directly to the bank that listed the property to make the perfect deal. The advantages:
- Bank deals are the best deals - the banks want to get rid of their bricks, so they offer huge discounts to get the money in
- Banks can offer friendly mortgages - to make the deal possible the companies are willing to offer you a very tolerant funding
- Bank deals are safe deals - we collaborate with strong reliable banks - they are used to work in a safe and secure way to keep up their reputation as reliable partners
- Banks have a local, specialized and multilingual staff - you will be dealing with staff members or partners, by the bank authorised to negotiate, speaking your language: English, French, Norwegian, Dutch, Russian, German, Swedish, Chinese, Polish, Finnish, etc. Should it occur that the bank in a particular area does not have an employee who speaks your language, an authorised bank partner will discuss with you in English.
- Banks are used to do business on an international level - these companies make international deals. They know the ins and outs of dealing with financial assets, money transfers and mortgages.
The buying process step by step
Using our website bankbargainsspain.com you can search for houses troughout Spain. You can search for specific categories like price, property type, surface area, number of bedrooms and regions or places. You can mark the houses you like the most as favorite. Click on more information and fill in the application form.
Tip: Use our Bargain Alert Service for automatic notifications about our new deals based on your search requests.
The authorised personal partner
Using our website bankbargainsspain.com you can search for houses troughout Spain. You can search for specific categories like price, property type, surface area, number of bedrooms and regions or places. You can mark the houses you like the most as favorite. Click on "more information" and fill in the application form.
Your application will be processed within a couple of days. A professional and authorised bank partner with sufficient knowledge about the area of your choice will review your application. In most cases this employee speaks the language of the applicant.
To get a good impression of the property and the area, it is necessary to make an appointment for a house viewing. Your consultant will take care of this and informs you about the best preparation: this includes all the requirements for a possible purchase or further information about the residence.
If you want, the bank can provide an offer for financing the purchase of the real estate. To make the deal possible the companies are willing to offer you a very tolerant funding.
The authorised partner guides you in the process of choosing a lawyer, getting an overview of all costs involved, negotiating, formalizing the offer, setting up private contract, completion at the notary and the registration of the property.
BankBargainsSpain.com is founded by the online marketing agency Connecting Minds. Connecting Minds is specialized in 'connecting' buyers and sellers of property in Spain. The website BankBargainsSpain.com only focuses on bank owned Spanish properties.
What makes us different?
- Only the real Bank Bargains - repossessed properties, forced sales, etc. that are owned by Spanish banks
- No extra costs - no extra costs will be added if you inquire through the contact forms on bankbargainsspain.com
- Buying directly - you will be dealing directly with the selling party
- Available in your language - we offer information in 10 different languages
- Building on solid parties - we only work with solid and trustworthy leading parties that are offering real Bank Bargains
- Extra Services - we will do our utmost to offer you the best service and guidance
- All information available - including the exact location of the property
- Support - please let us know if you have questions or complaints, we are here to serve you