Re: Re: Buying a property from a bank

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Fuengi (Andrew)

@flosmichael wrote:

Let’s say one goes to one of the sites where banks sell properties (say Altamira- Santander) with the 4 steps detailed here:

Does anybody know what financing are they usually offering? They say up to 100% financing, but did anybody really got the 100%?

Hi, I have heard of cases where the banks covered all purchase costs aswell, but generally it only covers purchase price.

@flosmichael wrote:

I know that this has been discussed before, but did anybody got any discount by negotiating with the bank? Are they listening to offers?

Most will say no, but with the right information it is possible.

@flosmichael wrote:

Can one deal with Santander branches in UK for the final steps of the buying i.e for say handover of the keys?

I would not think so as they would be separate companies.

@flosmichael wrote:

Another question: I understand that the tax people in Spain do not trust lower acquisition costs and ask for higher sale tax if they think the declared price is too low. Would they trust a sale price declared by a bank better?

Its not a matter of trust, its just the system. But you should be able to find out very easily through you lawyer/gestor the exact figure from them. Should you be buying at a figure substantially below the hacienda figure, you can use a property valuation to argue your case.