REPOSSESSED & DISTRESSED PROPERTIES

MARBELLA & THE COSTA DEL SOL

In Marbella & generally in the area of the Costa del Sol, we are currently in a situation where the economic market and rise of interest rates has forced the banks to tighten their belts and repossess a number of apartments, villas and townhouses from those who can no longer meet their mortgage repayments.

Click Here To Go To Our Distressed Property Listings 

Distressed vendors

Even though all the properties we market and sell from our portfolio are professionally valued and represent good safe investments there are occasions that vendors must sell their property quickly and well under market price.

This could be for various reasons, personal even, but mainly it’s second home owners not being able to meet their mortgage repayments. Perhaps not wanting to loose everything to the bank, owner's DISTRESSED PROPERTIES as we call them could be up to 50% less than the market value.

There is nothing wrong with the property itself and all  relevant  paperwork is thoroughly checked by our legal team , its literally the urgency to sell that makes these properties distressed.

Please browse through our portfolio of Distressed Properties in Marbella & The Costa del Sol. For those of you lucky enough to be able to act quickly and snap up these fantastic bargains before the vendors situation recovers. 

Bank Repossessed Properties

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.
• Blue Sky Homes International in Marbella  is an API approved agent and is giving its clients the opportunity of seeing some of the properties available with the prospect to contact the Bank.