Which bank will make the first move and liquidate?

Spanish Property Insight Forums Spanish Property Forums Real Estate Topics, News & Discussion​ Which bank will make the first move and liquidate?

This topic contains 1 reply, has 2 voices, and was last updated by  Anonymous 5 years, 6 months ago.

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  • #57471

    Anonymous
    Participant

    This is an interesting article in Spanish on the vulture funds negotiation with Spanish banks to buy up massive portfolios.
    http://www.inmodiario.com/199/16784/fondos-presionan-hacia-casi-gratis-total-viviendas.html

    The problem is they can’t agree on the price. Spanish banks aren’t prepared to accept the losses, investors aren’t prepared to pay more than about 20c on the $, from what I hear.

    I know first hand that some managers of bank real estate divisions think that the offers they are getting are “insulting” đŸ˜¯ They are taking it personally.

    The article makes the point that, sooner or later, the losses must be taken on the chin. Sooner the better.

    Once one of them does it, they all have to follow suit.

  • #116838

    Anonymous
    Participant

    When, we are offered products by the bank. We don’t feel insulted we either take it or leave it What these Banks don’t realise that when they are ready to accept the reality the vulture funds will than offer say 15c on the $.

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