Even though every case is different, our years of experience helping clients in distress with debts on foreign property have allowed us to develop a process that ensures we provide the best possible service and get the best results for our clients.
The process we have developed out of our wealth of experience helping so many clients restructure or dispose of the debts hanging around their necks as a result of property investments that have gone wrong for one reason or another is the key to our success.
Here we give you an overview of the steps we take to help you get free of a negative equity nightmare in Spain.
1: Contact EU Property Solutions
You can contact us via our live chat on our website, email us at firstname.lastname@example.org or call our Business Relationship Team directly on +44 (0)330 124 1230.
In the initial stages, the team will want to explore your situation to get a clear understanding of the issues at hand. We need to know:
- Property Location
- Your Spanish Lender
- The Mortgage Balance Outstanding
- The Estimated Value of the Property
2. Documentation Review:
Following your initial call, the Business Relationship Team will request certain documents. Once this has been received a full case precis are sent to our Spanish Legal Team. Once reviewed they will outline if we can assist or not and the outcome we aim to achieve.
3. Summary Email & Quote
Our Business Relationship Team will outline what we can do in writing and quote accordingly. A follow-up call will be arranged to answer any queries. At this phase, we will discuss with you the “housekeeping” such as where to issue the invoice & fee agreement.
4. Legal Team Review
Once the potential client has collated the documentation it is issued to the legal team in our San Pedro office for a review. This is a key element of the process as from here we can decide whether the case is favourable to pursue. Our legal team endeavour to review documentation within a 48-hour window – this is enough time for us to grasp a clear understanding.
We would like to stress, at EU Property Solutions will never take a case on if we do not believe it can be successfully concluded. We pride ourselves on being completely transparent and we do not agree with wasting any potential clients time nor our legal time.
5. Retainer Fee Paid
Once the retainer fee is paid to confirm EU Property Solutions appointment your case will be handed to our case manager based in our Spanish office.
6. Case Conclusion
Every case is different however when a settlement is agreed with your lender a date is arranged for our legal team and a representative of your lender to meet in front of a notary to complete the signing of a cancellation deed.
* This article has been written by a third party not owned or controlled by Spanish Property Insight (SPI).
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