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This message was last edited by san miguel on 2/4/2008.
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 STOP CYBER-BULLYING
 AND PRACTICE WHAT YOU PREACH
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This message was last edited by san miguel on 2/4/2008.
_______________________
STOP CYBER-BULLYING
AND PRACTICE WHAT YOU PREACH
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No probs, love the pig with the money. 
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San Miguel asked
I've noticed some Spanish estate agents are now advertising bank repossessions. In the UK these can be a good buy.
In Spain;-
- Are these a good buy?
- What is the risk?
- what about title deeds?
This message was last edited by morerosado on 1/22/2008.
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Hi San Miguel
Can't speak for the Spanish repos but you will find in the UK that as the majority of reposessed properties have high mortgages on them these days so the lenders have to achieve a lot more to cover the debt. I think that there is a misconception about repos being cheap!
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PLease have answers below in blue:
I've noticed some Spanish estate agents are now advertising bank repossessions. In the UK these can be a good buy.
In Spain;-
- Are these a good buy? Usually they are cheaper than market. Anyhow, market prices are falling too now.
- What is the risk? No risk. You buy them in an official public auction
- what about title deeds? They will be granted into your name at your expense and will be registered under your name to in the Lan Registry. You will have, of course, full ownership on them.
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Maria L. de Castro, JD, MA
Lawyer
Director www.costaluzlawyers.es
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How do I find details of the official public auctions for say the area between Alicante and Mojacar?
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Public Auctions are held in Courts. The Court dealing with the repossession procedure shows them in its notice board .
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Maria L. de Castro, JD, MA
Lawyer
Director www.costaluzlawyers.es
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San Miguel. Advice from Maria is invaluable. We're honoured she is available to us so freely. (Thank you Maria. Please advise your new website as the one you gave me won't work.)
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This message was last edited by san miguel on 2/4/2008.
_______________________
STOP CYBER-BULLYING
AND PRACTICE WHAT YOU PREACH
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You need to know your stuff on this. Firstly the good deals tend to be farmed out to friends, family, bank employees, lawyers notaries and their hangers on way before it gets to the open court.
At court you are invited to bid by tender - in writing - its not the open arm up bidding type auction. There will be a notice at the court giving time before the day and time of the tenders.
There are many cartels who specialize in these properties and for a fee will guarantee the property for you!
Also these properties may be clear of mortgage debt but usually have community fees outstanding and other debts from the previous owner which can come out of the woodwork, so ensure you do your homework very well.
It was for all the above reasons that I concentrated on distressed owners who have to sell, just before the bank steps in!
God luck with it.
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Quite frankly m'dear, I don't give a damn!
www.herbalmarbella.com
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I thought this was quite an interesting article
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aajXobh_gqBc
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