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We have been approached on numerous occasions recently by various Spanish banks and intermediaries, wanting to feature their bank repossessions as part of our distressed Spanish property portfolio.
We have 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.
Firstly, as an end-user client looking to buy a cheap Spanish property, you are completely in the hands of the bank and their representatives. I´ve heard nightmare stories about banks changing the askig prices at the last minute, and denying access to photos and property information until a client has committed to an inspection trip to Spain. Continue reading »
