[GarySFBCN]

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

[Anonymous]

@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.

[Anonymous]

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.

[GarySFBCN]

Thanks for the responses!

[Author]

Posts