In February 2014, Spanska Fastigheter signed a unique contract with Spain's second largest bank, the nationwide and well-respected CaixaBank. We became the first broker to be awarded an International Brokers License.
[Update 2020, after the Corona crisis, on bank repossession . The market for bank repossession is basically dead as the most attractive homes sold out long ago, and there are basically no new listing . Many wonder if the Corona crisis will lead to a market for bank-owned homes like after the last crisis. We have spoken to several banks and they all say the same thing. No, it won't. This crisis will not be as protracted, and it will not be rooted in the lending sector. In particular, new Spanish laws (which came into force before the Corona crisis should be added) have been enacted with the aim of preventing people who have fallen into financial hardship from losing their homes. The banks also do not want homes that cannot be sold on the market, as these are extremely difficult to sell. The great opportunities in the wake of the Corona crisis lies instead in so-called off-marketsales.
The most affordable off-plan apartments on Costa Del Sol this year. Beachfront apartments in Torrox.
off-market after Corona
off-market simply means that many who are now putting their homes (including hotels, B&Bs and other commercial properties) up for sale at heavily discounted prices, or those who are heavily lowering the price of their homes that were already up for sale before the crisis, choose to do so “secretly”. They don’t want to advertise it. However, we are allowed to send these discounted properties via direct mail. Write to info@spanskafastigheter.se if you know what you are looking for, and where, and can make a quick deal.
However, this procedure will not apply to new development .
However, there are still bargains to do in the form of new development on cheap, bank-owned land/skeleton structures bought up by developers, i.e. projects that went bankrupt around the crisis but are now being restarted at a cheaper than usual cost. Above all, there is talk now, and for a long time to come, about so-called construction communitiesA project solution that reduces prices on new development by up to 35%. Read more here. Another option is renovation project . Read more about properties in need of renovation in Spain (Malagaarea recommended).
Link to Eastern Costa del Sol and Costa Tropical (Nerja, Torrox, Almunecar etc.)
Link to the western Costa del Sol (Marbella, Benalmadena, Fuengirola etc.).
Alternatively, write directly to info@spanskafastigheter.se
Older article about bank repossession below:
This represents a unique opportunity for our customers, not least because we get information about their bank repossession before anyone else foreign brokers in Spain. We also get exclusive rights to sell certain homes. [Later, several other banks have also signed contracts with us so we cover all major players around Spain when it comes to bank repossession . Depending on what and where you are looking, we make sure that you are matched with the most suitable player. This can change from month to month.]
Note, the bank made a major investment in 2015 and changed its name, among other things. The international office was relocated to the city that is most sought after for investments (Nerja) and they offer after-sales service, advantageous bank loans for Swedes, etc. Read more about getting a loan promise from a Spanish bank online.
The bank not only provides us with cheap bank repossessions throughout Spain, but can also offer our customers up to 90 percent financing (70% on listing that do not belong to them) and after-sales service. The bank-repossessed homes are mainly found on the popular coasts of the Costa Blanca and Costa del Sol, but also Mallorca, the Canary Islands and Barcelona, etc. La Caixa is the country's second largest bank and has the largest database of bank repossession in Spain. Through us, you have the opportunity to buy a bank-repossessed home in all Spanish provinces.
Read our article about property investment in Spain. About the best areas to invest in, what type of home ( bank repossession is rarely the best buy) which is the best investment, etc.
Also read our overview of the most affordable and attractive projects with newly built properties .
Registering with the bank to receive information about their offerings, as well as viewing bank-repossessed listing on site in Spain, costs nothing. The service is completely free.
The bank has Swedish-speaking (or English-speaking) staff and they offer, in collaboration with spanskafastigheter.se bank loans in Spain that are adapted for SwedesThe aim of this collaboration is to make it easier and safer to borrow money across borders, and to ensure that you make the best possible investment when buying a bank repossession or other property, plot of land or commercial listing in Spain.
For our customers, this not only means increased security but also better conditions and service. All loan applications at the Spanish bank are handled by Swedish-speaking staff. All communication and viewing of bank-repossessed apartments and houses, wherever in Spain the property is located, is also handled by Swedish-speaking staff.
Write to us and we will provide information about which documents you need to send if you want to have a more or less clear decision about whether you will get a loan or not even before you go to Spain. info@spanskafastigheter.se
Our head realtor Anders Larsson also participates in seminars in Benahavis a few times a year together with the bank. The seminars are attended by international investors who are looking for land, housing, hotels and other commercial listing in Spain. So it's not just villas and apartments that can be purchased directly from a bank. The opportunities to make a really big investment in Spain have never been greater.
Bank Properties – New construction and second-hand properties
- The market for bank repossession was chaotic for a few years, but how several of the larger banks in Spain have stepped in and brought the situation under control. Bank Properties we have access to includes thousands of listing across the ENTIRE Spain and new listing are constantly being added.
- How cheap are bank withdrawals? They are up to 65% off price . Everything from apartments from 10,000 Euro and up is for sale. The cheapest properties (those under 500,000 SEK) are rarely located near the beach .
- All the paperwork is in order and all parties act in accordance with a strictly regulated procedure so everything goes smoothly.
- Brokers from spanskafastigheter.se arrange viewing in certain areas, otherwise we will arrange for the bank to meet you with its staff.
- Note, again, that Bank Properties is available in all provinces where CaixaBank has offices, which means that the database includes all of Spain.
- Also note that the bank does not sell bank properties directly to customers, but rather it is handled through brokers, like us (without any extra cost being added to the price of course).
How to buy bank foreclosures in Spain
Are you unsure about your options? Write to our head broker at Costa Del Sol , Anders Larsson, and he will get back to you with answers to your questions: spanienkontoret@spanskafastigheter.se
NOTE that the most common and best approach is a little different compared to buying "regular" homes, where you email back and forth for several months until the client feels that she or he has found the right one and then books a trip for viewing . The attractive bank-repossessed apartments and houses for sale quickly. We will therefore not post many listing on the page.
As we receive advance information about new listing it is important that, when something new and unique comes onto the market that we know will sell immediately, you are prepared to travel to Spain at short notice and that you have reservation money (in a Spanish account) ready. More on this below.
Here's how it works:
- Please send us an expression of interest . Please include your full name, phone number and email address.
- Write what and where in Spain you are looking for accommodation (if you are unsure where in Spain you want to invest, write to info@spanskafastigheter.se for advice and tips.)
- We register you with the bank that currently has listing that best matches your criteria. Within about 3 days, the bank's broker, Swedish-speaking or English-speaking (depending on the area), will return with examples of listing that are available right here and now, and what may be on its way to the market where you are looking. They will then continue to continuously send listing based on your criteria for a shorter period (2-3 months at most, depending on the bank in question).
- If you are looking for listing in an area where we have our own brokers, we will handle all future contact and any future viewing .
- We receive continuous information about all our clients so we can provide feedback. If the bank hasn't found what you're looking for after a couple of months, write back to us and we'll find alternative ways.
PLEASE NOTE, signing up to be featured on listing , and/or applying for a loan online is completely free of charge.
bank repossession purchase process
- When you arrive in Spain, an authorized broker will show you the properties you are interested in.
- If you decide to buy, an official reservation document must be submitted. In order for this to be established, you must have a Spanish bank account, any bank (but the bank that shows you the property is obviously the most convenient choice).
- The reservation document indicates a specific bank account number for the transaction of the property. You must have a deposit of 1500 Euro available on this bank account for purchases of bank withdrawals up to 100,000 Euro. Deposit is 3000 Euro for purchases above this amount.
- However, this deposit does not guarantee that the property will be purchased by the customer. The reservation document is sent to La Caixa, which approves or rejects the transaction within a maximum of 15 days. If the transaction is not approved, you will receive deposit back within 7 days of the decision.
- Once your application to purchase the home has been approved, the purchasing process continues.
- To sign the title deed , you must be able to present a valid passport, NIE number (ID number for foreign citizens in Spain, or CIF number (for companies). You will receive all the information and help you need to draw up these documents.
- The entire amount is paid when title deed is drawn up (which is faster than with regular purchases which can take several months)
Dagens Industri used us as reference regarding, among other things, bank repossession , May 14, 2014:
A one-minute video presentation, a small selection of bank repos that are for sale right now (to give you an idea of the prices).
Is bank repossession the best investment in Spain?
Not necessarily. It depends on where you buy and what you buy. Most bank repossession are not located on the beach or other popular areas where it is easy to rent out your apartment. However, such listing do come in sometimes, but as I said, you have to be very well prepared as they disappear in just a few days. Write to spanienkontoret@spanskafastigheter.se and we will tell you about the Spanish homes that are the best investments right now.
After-sales service
In addition to giving Swedes good conditions for borrowing money to buy a home in Spain, as well as a Spanish account, etc., they also offer a complete after-sales service. For example, the bank helps with things like helping with translators for hospital visits, reviewing insurance, arranging auto-payment on water/electricity/community association bills, etc. Everything you would like to have as little hassle with as possible when moving to Spain.
About La Caixa Bank
- In a country where banks have been in the crosshairs for the past 7 years, it is a feather in LaCaixa's cap that they were recently named Spain's best bank by Euromoney.
- The bank was founded in Barcelona over 20 years ago, and in the fall of 2013, the brokerage portion of the business alone was valued at a staggering 370 million Euros.
- They have more than 6,000 offices in Spain.
- They offer several credit solutions with tailored investments for those who want to buy a home in Spain.
- CaixaProtect is the best service to protect yourself against fraud in Spain.
- Mortgage loan with good terms.
- CaixaBank has Swedish-speaking staffAll loan applications are handled in collaboration with Spanska Fastigheter by Swedish-speaking staff.
- Their Linea Abierta banking service is available in 19 languages 24/7, all year round
Write to spanienkontoret@spanskafastigheter.se for more information about bank repossession and loan terms.
Note that it has been selling very well for a year now. The pressure for agents on both Costa del Sol and the Costa Blanca shows that their problem is no longer getting clients but getting what they are looking for, within their budget.
Links to our newsletters
- Newsletter Nerja
- Newsletter Marbella and the rest of the western Costa del Sol (Mijas, Fuengirola, Estepona etc)
- Newsletter Torrevieja and the rest of the Costa Blanca (Alicante, Calpe, Altea, etc.)
- Newsletter Barcelona and Costa Brava
- Newsletter Canary Islands
- Newsletter Mallorca
Read also:
A selection of our homes in Nerja. (note, there are hardly any bank repossession in Nerja. The best area for bank repossession in all of Spain right now is Marbella).
Apartment in Torrevieja on the Costa Blanca – best buy right now.
About renting a house or apartment in Spain.
