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 Post subject: Bank repossessions
PostPosted: Sat May 11, 2013 8:39 am 
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Joined: Mon Mar 18, 2013 1:33 pm
Posts: 28
This one is mainly for residents, I suppose.
I've been looking at some repossessed properties online, some of which seem like very good deals. Not wanting to come across as predatory, but one always wants to get the best deal possible, does anyone know know any repossessed properties where the bank is really keen to sell asap and may therefore be open to even further discount? Ideally in Costa Teguise, though please feel free to let me know of any such properties anywhere on the island. Muchas gracias,,,


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 Post subject: Re: Bank repossessions
PostPosted: Sat May 11, 2013 9:15 am 
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Joined: Thu Jun 14, 2012 7:30 am
Posts: 541
Hi
Sorry for this long-winded answer but here we go.........Banks are keen to sell all properties on their books....especially now as the Canarian Govt. has just passed a law allowing them to temporarily seize properties held by the Banks( or any property which has been without tenants for a while) in order to provide low-cost social housing for those people evicted by the Banks because of being unable to make payments on their mortgage(so will now be offered a lower rental payment)......so most will listen to reasonable offers as here in Spain the Banks are only looking for the clearance of the amount owed on the mortgage plus a reasonable fee for legal costs of the repossession( not to make a profit but simply to cover their loss).......however since the merger of many smaller Banks into various larger entities such as Bankia etc most bank properties are offered through only 3 or 4 larger websites(main ones are http://www.casaktua.com http://www.solvia.es http://www.altamirasantander.com.
http://www.servihabitat.com )which means lots of speculators are snapping up property in the hope of future returns when the market revives......especially as most of these properties on these sites invite offers or come with guaranteed mortgages.
Hope this helps


Last edited by lanzalocal on Sat May 11, 2013 9:20 am, edited 1 time in total.

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 Post subject: Re: Bank repossessions
PostPosted: Sat May 11, 2013 9:20 am 
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Joined: Mon Mar 18, 2013 1:33 pm
Posts: 28
lanzalocal wrote:
Hi
Sorry for this long-winded answer but here we go.........Banks are keen to sell all properties on their books....especially now as the Canarian Govt. has just passed a law allowing them to seize properties held by the Banks in order to provide low-cost housing for those people evicted by the Banks because of being unable to make payments on their mortgage......so most will listen to reasonable offers as here in Spain the Banks are only looking for the clearance of the amount owed on the mortgage plus a reasonable fee for legal costs of the repossession( not to make a profit but simply to cover their loss).......however since the merger of many smaller Banks into various larger entities such as Bankia etc most bank properties are offered through only 3 or 4 larger websites(main ones are http://www.casaktua.com http://www.solvia.es http://www.altamirasantander.com.
http://www.servihabitat.com )which means lots of speculators are snapping up property in the hope of future returns when the market revives......especially as most of these properties on these sites invite offers or come with guaranteed mortgages.
Hope this helps


Many thanks, that's some really interesting info. I'll have a look at those sites. I'm coming out on Monday to have a look at some properties. Looks like it's an excellent time to buy.
Cheers,


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 Post subject: Re: Bank repossessions
PostPosted: Sat May 11, 2013 9:36 am 
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Joined: Mon Mar 18, 2013 1:33 pm
Posts: 28
Hi Lanzalocal,

I can't see any Lanzarote properties on any of the links you sent-only mainland Spain and Las Palmas & Tenerife.
Am I doing something wrong?


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 Post subject: Re: Bank repossessions
PostPosted: Sat May 11, 2013 3:56 pm 
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Joined: Thu Jun 14, 2012 7:30 am
Posts: 541
Hi
Lanzarote is one island(población) of the three (the others are Fuerteventura and Gran Canaria) that form the Province of Las Palmas(provincia)........don´t be surprised not to find any in the holiday áreas......thats not where the Spanish live and they are the ones who are defaulting as there is no work........places in holiday áreas tend to be owned by foreigners and non-nationals who are not having repayment problems :(


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 Post subject: Re: Bank repossessions
PostPosted: Sat May 11, 2013 6:44 pm 
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Joined: Mon Mar 18, 2013 1:33 pm
Posts: 28
lanzalocal wrote:
Hi
Lanzarote is one island(población) of the three (the others are Fuerteventura and Gran Canaria) that form the Province of Las Palmas(provincia)........don´t be surprised not to find any in the holiday áreas......thats not where the Spanish live and they are the ones who are defaulting as there is no work........places in holiday áreas tend to be owned by foreigners and non-nationals who are not having repayment problems :(


Got it-thanks. Some reasonable looking props out there ,,,


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 Post subject: Re: Bank repossessions
PostPosted: Thu Jun 13, 2013 3:06 pm 
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Joined: Thu Jun 13, 2013 3:01 pm
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Try this website, the are some cheap places on here in the tourist area.
I have just bought one of the 29000euros properties on los Naranjos, Costa Teguise

www . kyero . com


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 Post subject: Re: Bank repossessions
PostPosted: Fri Jun 14, 2013 9:31 pm 
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Joined: Fri Aug 28, 2009 9:14 am
Posts: 230
I'm keeping an eye out for something myself at the moment as well, and I've found the Lanzarote Investments website to be a decent guide for the type of money involved:

http://www.lanzaroteinvestments.com/ban ... ssions.asp


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 Post subject: Re: Bank repossessions
PostPosted: Wed Jan 13, 2016 7:56 pm 
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Joined: Wed Jan 13, 2016 5:55 pm
Posts: 3
Hi does anybody know anything about unfinished villas think called calle holanda , calle francia this is the road
there are some finished and living in but a lot of others unfinished ?

just found name i think Vista Lobos


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