Wednesday, June 19, 2024

Bank Repossessions


Over the last few years, with the huge changes we have seen in the economic climate across Europe, many things have had to change and fast. One of the most interesting areas where we have seen a huge turnaround is that of Bank Repossessions, not only in their perception to buyers but also in how the banks in Spain are dealing with them.

"Several of the leading banks in Spain have now approached JMT Spanish Properties to offer the best of their repossess property “

Previously, most bank repossessions never got anywhere near the public domain with the real bargains being sold to bank contacts or employees, and the not-so-desirable properties not going anywhere. Banks preferred to keep a property on their books if they felt the price it would sell at wouldn't be sufficient to cover the original loan plus costs, and thereby built up a collection of assets with the intention of selling them off later at a price to cover any loss.

Nowadays, the banks are starting to get their own houses in order and have realised that there is a growing market of buyers out there who are interested in these great bargains. They are looking for ways to market these opportunities to the general public and are able to do so with low starting prices and great finance packages. However, they lack the expertise and knowledge to be able to provide clients with the level of service and assistance they need – something that a tried and tested, long running estate agent like JMT Spanish Properties does have the experience to do!

Several of the leading banks in Spain have now approached JMT to offer the best of their repossession property – and we're not talking unwanted properties on unfinished or "ghost" developments, but great value, highly desirable properties on consolidated urbanisations with fully functioning communities of owners. We can help you through all the ins and outs of buying a bank repossessed property as it is quite a different process to a standard property purchase, and will work with you to make sure it is exactly the right property for you – as we do with all our buyers.

How can you take advantage of the amazing bank repossession opportunities out there? Simple, just talk to us. Our range of bank repossession property covers all areas and all budgets. With so many being listed it is impossible for us to list all of them. We can arrange to meet you on your trip and one of our team will show you a selection of properties to match your budget and criteria from the banks and owner distress sales.

0044 (0)2380 766479

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Spanish Bank


JMT have been retained by major Spanish Banks to sell their Repossession properties.

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