Reply To: Bargains!


Things could have changed but when I bought from a bank the properties did not go for court auction, it was a straightforward transaction between us and the bank.

Many years ago I spotted a house whilst playing golf, obviously abandoned but reasonably new, overgrown garden, dirty pool. I asked at the community office and they told me the name of the bank who had repossesed it. Spoke to the man in charge of these matters (after being passed around a bit). He gave me a price a week later (low) so set everything in motion, 2 days later he called to say he had made a mistake it had been sold!! So its not easy. I have also seen a row of villas in upper calahonda, half finished, builder gone bust.

I don’t think the real bargains will be around just now, think they are all hanging on to their hats. I also don’t think it will be as bad a recession as last time (hopefully). The people who have bought in Bulgaria, Turkey, Morocco may live to regret it but they will not be able to enter the spanish market as their money will still be invested (STUCK!) in those places. Spain is still a good long term investment.