jonter

How can I access a list of reposessed properties from the banks ( For property in Lanzarote)? , can i visit one central site ? or would it be bank by bank ?  and can i deal direct with the banks rather than go thru the estate agents ?  

please advise regards   jonter

Almost certain there's no central register, so you will have to go bank to bank. Sabadell (Solbank) have a dedicated site, solvia.es, for example, and other banks have their own too. But personally I think you're wasting your time. Most of the banks' stock is at best overpriced, at worst utter rubbish anyway (which is why it belongs to the bank now and not a bankrupt developer who couldn't sell it at any price)

My advice: there are very few genuine bargains out there, don't be fooled by the media & constant mantra of "it's a buyer's market", and above all, forget about Spanish property as an investment.

Sareb was the organisation formed in 2012 to deal with all the banks bad assets - they use Altamira, Servihabitat,Haya and Solva as commercial agents.

All the properties they are prepared to list are on idealista here

Very few good deals ever found their way to the public domain, I would of thought that was especially true on Lanzarote

Two years ago I was in negociations to buy a property being sold by Solvia.

The 'owner' was desperate to sell but the banks negociators kept stalling even though they had accepted my bid and I was keen to buy as soon as possible.

I believe the bank felt that there was no hurry and prices were likely to go up. In any case there was no further loss to them just less remaining for their client. They had no interest to sell as long as the original buyer had some equity left.

In the end I bought a similar property at the same price.

The moral of this story is that, if you cannot afford to continue to pay the mortgage, you should conclude a fire sale and accept your loss. Do not dump it on the bank.

If you are buying make your offer conditional on quick conclusion.