It can be a very good deal to buy a bargain property in a distress sale. However this is not for the beginner. In order to be ready for a real bargain property in Spain, you will have to be prepared.
Please note: Some of these properties have been on CASA:UNA books before, and some are listed here directly. In some cases properties are sold in a few days at reduced prices, and other may take several weeks.
How to prepare for a distress sale in Spain
Make sure you know what kind of property you would like
Know the areas on Costa del Sol
Speak to the bank about your budget, get a mortgage limit
Go to Spain to get an NIE number (needed to buy a property)
Follow the properties here on the page
Contact one of the agents and explain about your requirements and wishes
Many distress properties are sold quickly, so in most cases you will need to react fast to get the best deals.
Reasons for distress sale property in Spain
There are many reasons to sell a property quick. Some are personal reasons, other are due to currency fluctuations where the seller wish to take advantage over a low currency at home.
Default sales and sales where the owners are divorcing or maybe in a tight spot due to personal financial problems are often factors when an owner wish to sell urgently.