Trying to buy a repossesed property

Spanish Property Insight Forums Spanish Property Forums Property Questions & Answers Trying to buy a repossesed property

This topic contains 6 replies, has 4 voices, and was last updated by  Anonymous 5 years, 11 months ago.

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  • #57775


    3 weeks ago I make an offer on a property owned by Caixa Catalunya via an agent who is advertising the property.
    At the same time, I ask about the morgage conditions at a branch of the same bank.

    2 days ago the bank employee handling my morgage request tells me,
    all the properties are sold to the Kennedy Wilson group.
    It is not clear whats next.
    The agent doesnt know anything more.

    Has anyone had a similar experience,
    where you lost your opportunity to an investment group?
    Is there a way to still buy the property?

    I’m not angry at the investment groups making their move,
    I just would like to know if there is still a chance to buy the place.

  • #118130


    I think they are an auction group so you can probably buy the properties from their auction site (when they become available).

    I guess you could try contacting KW directly as well.

  • #118133


    I have posted enough material on the subject that one could do a Phd on the subject

  • #118136


    It is not incredible that a simple thing like an Auction had to be organised by a foreign Company. Spaniards cannot even do this in their own country. What hope the economy has to improvise ?

  • #118137


    KW are in the process of buying the real estate division of CX, but not the properties, which belong to the bad bank, or at least most of them do.

    I bet you neither the agent not the branch have a clue what’s going on. I’ll ask the sales director of CX next time I talk to him.

  • #118143


    Mark, thank you for your comment.
    Absolutely right. Neither me, the branch or the agent have any clue about availability, price or sales process.
    Inside information seems to be the onlyway forward, I ve been knocking on some doors but no more info so far.

  • #118148


    After you have knocked on some doors. It will be practical to bang your head against the wall. This will make you realise very quickly to not to waste your time, effort & energy.

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