100 % FINANCIACIÓN

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This topic contains 3 replies, has 3 voices, and was last updated by Profile photo of GarySFBCN GarySFBCN 6 years, 3 months ago.

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  • #55823
    Profile photo of GarySFBCN
    GarySFBCN
    Participant

    Another question: For real estate listings in idealista.com and other sites that indicate 100% financing is available, is this an indication of problem properties? What I’m afraid of is the ‘too good to be true’ aspect of something like this.

    I guess I should state that I’m only looking for 50-70% financing for something in Barcelona.

    Gary

  • #100424
    Profile photo of Anonymous
    Anonymous
    Participant

    @garysfbcn wrote:

    Another question: For real estate listings in idealista.com and other sites that indicate 100% financing is available, is this an indication of problem properties? What I’m afraid of is the ‘too good to be true’ aspect of something like this.

    I guess I should state that I’m only looking for 50-70% financing for something in Barcelona.

    Gary

    Hi Gary,

    From what I gather when banks offer 100% mortgage on a property it is generally from their own portfolio of properties which have been repossesed or is the saying in America known as Foreclosed – in any case it is in the bank’s interest to shift these properties and that is why 100% finance is available. If you were not buying one of these properties it is normally 80% mortgage. It is probably a good time to buy now – unfortunately when my husband and I bought it was 2005.

  • #100426
    Profile photo of Anonymous
    Anonymous
    Participant

    The question is 100% finance at what price Repossed/foreclosed. If it is at market price, what ever the market price than it looks like the property will be back on the lenders books.

  • #100427
    Profile photo of GarySFBCN
    GarySFBCN
    Participant

    Thanks for the responses!

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