The Company for the Management of Assets proceeding from Restructuring of the Banking System (SAREB) is a company created within the framework of Law 9/2012 of 14 November that enables the segregation of toxic or problematic assets of credit institutions that require public support so as to remove them from the balance sheet of these institutions and you can find out more on the website www.sareb.es,
They don't actually take over anything, what the banks are able to do is request that properties that they take back from a developer are placed in Sareb protecting in effect removing them from their balance sheet but the bank will still be marketing the properties for sale but Sareb fix the pricing and then market these properties through selected agents and their own agents and most banks now have an agents network
Typically that these are properties that have been taken back from the developer, either because they cannot pay the mortgages and the banks only really want to recover their original builder’s mortgages
I work as a Sareb agent in Murcia and get access to heavily discounted properties, with mortgages, via a variety of banks and some examples are properties on Corvera which were originally €260k and are selling at €60k. Properties in Hacienda Requelme, RODA and El Valle, originally €270 selling for €70k and La Manga Club Originally €345 now €180k
Even though Sareb is involved it is still the original bank that has to agree sale price based on an offer and the mortgage and they are not always at low prices and it is a long process for the banks where Sareb have restrictions on the number of properties they can take
Chances are that the banks are looking to transfer some properties on HDA into Sareb, possibly