Spanish Property Insight › Forums › Spanish Property Forums › Property Questions & Answers › Where are all the 70pc discounts and bargains from banks? › Re: Re: Where are all the 70pc discounts and bargains from banks
In the interests of Transparency, and out of interest, Prime Invest is a ‘company dedicated to advising and managing real estate assets’ and their ‘focus is on marketing clients’ assets’. They say ‘sold out’ but this applies to their sales mandate number of units given them by Banco Sabadell.
Nowhere can I find that they call themselves a Developer. 😕
There is another Prime Invest named company in the States which is nothing to do with this one I believe.
They sound like what was termed during the boom days as a ‘Promoter’ where agents could approach them to sell their properties.
Also, were these units originally for sale at 70% more than now being advertised for sale and where were they advertised? 🙄
Dont get hung up on the word developer you are right it is a simple way of describing the main selling agent appointed by the builder or in this case bank.
I guess the original builder went under and the bank then asked Prime Invest to act for them in recovering as much money as possible.
In Spain MLS operates and agents work together and share commissions
In the” boom days ” as you put it Viva Estates was acting as the developer in a number of developments on the Costa del Sol and all other selling agents clients were directed through them.
As for discounts these properties are true bank repossessions.