Buying a repossessed property of the Costa del Sol

[MrsUltracrepidarian]

We have seen a property we are thinking of buying - anyone else done this?

[AgentProvocateur]

No, but watching with interest. I was looking at Spanish property at the weekend.

[Pagwatch]

I've got a place in Spain but I wouldn't knowingly buy a repossession property.

[MrsUltracrepidarian]

Pagwatch - why?

[Pagwatch]

It's a personal thing. We were evicted when I was young. It would feel like profiting from someone else's misery.

It is just my view - not telling anyone else what to think. I just couldn't do it.

[Costacoffeeplease]

I would do a lot of research, it might be fine, but is it part of a block of apartments/townhouses or a detached villa? Is it on a complex? If so, is it solvent? You don't want to be one of a few bought properties on an otherwise abandoned development

[MrsUltracrepidarian]

Costa - no - is detached villa
Interested in the legalities - our lawyer has said is more straightforward dealing with the bank than with a vendor. We have seen a property where the bank has foreclosed and is waiting for possession - hence question re practicalities.

[Costacoffeeplease]

Yes it probably is. In that case I think it would be ok

I live in the algarve and there have been distress sales here too in the past few years, hence the questions! Good luck!