SPANISH PROPERTY AUCTIONS - BUY YOUR PROPERTY IN SPAIN AT BELOW MARKET VALUE
If you are one of those savvy investors looking for GREAT Spanish property bargains , then you may want to consider the possibility of visiting one of the many Spanish property auctions which take place throughout Spain.
Properties which are listed for sale at a Spanish property auction are generally owned by individuals who need a quick sale. This could be personal or financial reasons. Many of the properties which are listed for financial reasons have either been repossessed by the Banks or are on the verge of being repossessed by the Banks as the owner can no longer afford the mortgage repayments. Between 2000 and 2008, many Spanish property investors purchased off-plan with a view to either renting the property out or flipping the property before completion, thereby capitalising on price increases and avoiding any need to pay sales tax (IVA) on the purcahse. This has forced the Banks to repossess the properties and sell them - either direct or through approved agencies.
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