Marbella Repos.

[Rocco]

[B]Does anyone have experience purchasing debt on property in Spain?

Effecitively you buy at about 30% of the bank evaluation. The problem is that these guys that are walking away obviously bought these villas with dodgy money - why else would they walk away with so little to pay off??????? What is the chance that you end up with a gangsters property?
Besides the potential gangster issue this is certain appear to be a good investment. Appreciate all feedback.

[Paul Murphy]

there seens to be a lot of that type of property in Spain at the moment and there seens to be plenty still in the market. I haven't myself bought but know a few who have with proper due diligents though a lawyer you should be fine. If it goes back to the bank you will need cash.

[investigationsiberian]

Originally Posted by Paul Murphy

there seens to be a lot of that type of property in Spain at the moment and there seens to be plenty still in the market. I haven't myself bought but know a few who have with proper due diligents though a lawyer you should be fine. If it goes back to the bank you will need cash.

I have lived out here in spain now for ten years, I am now looking to invest but localy i would avoid it, better gains can be made right now in places like Tunisia.

Its safer and if you want i can forward you the detials of the company i have bought two of plan properties from.

[Paul Murphy]

Thanks that would be great I will have a look

[toupeira]

Hi Rocco I have been living semi-permanently in Marbella for the last twenty years or so
and as Paul states with true diligence you should be okay, but the paper trails of some of these properties can be confusing to quote a friend of mine involved in such "sometimes the trail leads you after months of work back to where you started from" he was referring specifically to Marbella, personally at the moment I wouldnt touch anything with a bargepole in that particular line. Wait until the new regime in Marbella get settled in and prove that their intentions are purely "honourable"

[Goldberg Global]

Rocco, buying at 30% of the valuation, is not unheard of but is rare.

If the banks have repossessed it and it has gone through the courts, then it is yours if you buy it with legal deeds. It does not matter who owned it before.

If it was a gangsters house, you call the police if they come knocking.

People have to sell for whatever reason. no money, etc, if you get for 30% and is correct (this sounds quite low) for a novice investor.

Originally Posted by Rocco

[B]Does anyone have experience purchasing debt on property in Spain?

Effecitively you buy at about 30% of the bank evaluation. The problem is that these guys that are walking away obviously bought these villas with dodgy money - why else would they walk away with so little to pay off??????? What is the chance that you end up with a gangsters property?
Besides the potential gangster issue this is certain appear to be a good investment. Appreciate all feedback.