Repossessed Property

On the Costa del Sol

Under Spanish law, the banks themselves are unable to directly sell repossessed properties. In short, a member of the public cannot walk into a bank looking to buy a repossessed property and ask for a list of the houses on their books and purchase direct. High street banks are not in the business of selling properties, however they do need to recoup the money owed to them as soon as they can, regardless of whether the property is sold for its true potential value.

An Order (Orientivo commercial) is sent to all branches from the Banks Central Office and an Officially registered API Agent (Agente de la Propiedad Inmobilaria) is selected by the bank to act on the their behalf. If after a short period the Agent is unable to sell the property it will go to auction where banks invite recognized brokers of funds who are in a very strong position economically to buy a high quantity of units.

Buying a ‘Repossessed Property’ is a superb way of acquiring accommodation with high rental income potential or as a primary residence, in many cases a purchase can be made for up to 40% of the market value.

The properties listed below are official 'Bank Repossessions' which have been placed on the public market for sale by the pre selected Bank Approved API Agent and are not available anywhere else.

marbellas.com is giving its readers the opportunity of seeing some of the properties available with the opportunity to contact the Bank selected API Agent.

Listed below are some of the repossessed properties just released. Unfortunately due to the speed of turn around, the financial situation and the fact they are literally just on the market there are no images to accompany many of the properties and information about the property is limited. The API Agent will be able to answer all questions about any particular dwelling if reqested.