# bank owned foreclosures/repos



## maxd (Mar 22, 2009)

Hi Spanish locals. I am looking for websites that lists bank owned properties, in particular villas.


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## djfwells (Sep 28, 2009)

Check the Imerso website, although the majority tend not to be Holiday Villas


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## zx10r-Al (Apr 8, 2013)

Could you post a link to that site, as a google search for 'imerso property' doesn't return anything.


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## Pesky Wesky (May 10, 2009)

maxd said:


> Hi Spanish locals. I am looking for websites that lists bank owned properties, in particular villas.


Go to the banks websites, like this one
Solvia, Inmobiliaria de Banco Sabadell. Casas, Pisos, Locales... en Venta o Alquiler.


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## djfwells (Sep 28, 2009)

zx10r-Al said:


> Could you post a link to that site, as a google search for 'imerso property' doesn't return anything.



Here you go >> Imserso. Instituto de Mayores y Servicios Sociales :: Fondo Social de Viviendas


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## Dunpleecin (Dec 20, 2012)

Bank repos aren't always the bargains they appear to be for a couple of reasons. Firstly, the price you see might well be refused if you make an offer. If they know you are interested because it seems a fantastic price they will try and get more.

Also, when a property is repossessed, it is "Customary" (by that I mean it's often the case) for the ex owners to rip the place to shreds of all fixtures and fittings including things like boilers, copper piping, air con (obviously) and anything else they can sell to either service the debt or just run off with. It's not unknown for windows to be taken out.

The cost to put right these things, along with re connection of services could well mean that a normal sale from someone not yet having been repossessed but desperate to sell could well be a better option. I'd certainly explore all options anyway and not just restrict yourself to bank repos.


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## 213979 (Apr 11, 2013)

djfwells said:


> Here you go >> Imserso. Instituto de Mayores y Servicios Sociales :: Fondo Social de Viviendas


Aren't those for people whose houses have been repossessed?


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## 213979 (Apr 11, 2013)

Dunpleecin said:


> Bank repos aren't always the bargains they appear to be for a couple of reasons. Firstly, the price you see might well be refused if you make an offer. If they know you are interested because it seems a fantastic price they will try and get more.
> 
> Also, when a property is repossessed, it is "Customary" (by that I mean it's often the case) for the ex owners to rip the place to shreds of all fixtures and fittings including things like boilers, copper piping, air con (obviously) and anything else they can sell to either service the debt or just run off with. It's not unknown for windows to be taken out.
> 
> The cost to put right these things, along with re connection of services could well mean that a normal sale from someone not yet having been repossessed but desperate to sell could well be a better option. I'd certainly explore all options anyway and not just restrict yourself to bank repos.



This has been our experience with repos as well. We toured a number of homes but saw that, in most places, we were going to have to put piping back in, heaters, etc. In the only home that was repoed from a builder, absolutely no guarantee was offered on the place. For example, we saw a place that had huge water damage. Normally, that should be covered by the builder since it's a structural issue. We were going to have to fix it ourselves. 

In the end, we chose a home directly from a builder. The price ended up being extremely competitive and, when you figure in all of the money we would have had to paid to fix up a repo place, I think it was the best deal.


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