Bank-owned property new Golden Buys in Spain
By Alison Farmer, 28 Sep 2008
Spanish bank repossessions are the new “Golden Buys” for British and other north European families and investors as property values slump below EUR 1,500 a square metre for a 2-bed holiday apartment with secure underground parking and communal swimming pool.
That’s less than GBP 77,000 for a typically sized 60-65 square metre apartment with sunny balcony, fitted kitchen and sometimes even air-con. www.PropertyInSpain.Net the specialists in Spanish bank repossessions and Must Sell homes have a selection of bargains in fiesta village, Formentera del Segura, 10 minutes from La Finca Golf, one of the Costa Blanca’s best golf courses and Blue Flag beaches of Guardamar de Segura.
The homes are bank-owned, carry current independent valuations and are offered with vacant possession, 80%-90% mortgages, easy-legal validation and deposits as low as £7,000.
“We choose the best bargains direct from the Spanish banks, who want only their loan and repossession legal costs back. Many these homes are just a few years old, on holiday developments with communal pools and grounds, secure parking and close to beaches and other amenities,” said Kevin Barnett of www.PropertyInSpain.Net
The website has hundreds of buyers registered for these bargain properties and provides a viewing service at every airport in Spain to allow pre-purchase inspection. Reservation is EUR 3,000 and paperwork completed in the nearest bank branch. 30 days is allowed for buyers’ own lawyers to check the details in the registry and for a new mortgage to be set-up – sometimes, buyers can take over the previous mortgage.
Formentera del Segura is located a short distance away from glorious beaches of Guadamar de Segura and La Mata and all the entertainment and cultural attractions of the area. Formentera is typical of many Spanish villages and celebrates many fiestas during the year, where locals and tourists mingle in bars, cafes and restaurants sampling wonderful regional food and drink.
Top destination for golf lovers with La Marquesa Quesada Golf & Country Club and the fantastic La Finca Golf Club only ten minutes drive away. Twenty five minutes drive from both Alicante and Murcia international airports.
Here's the top 50 bank-owned bargains available right now:
http://www.propertyinspain.net/property-for-sale/showcase/spanish-bank-repossessions.aspx