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Orihuela Costa, Alicante, Spain, 2013/01/24 - Murciabankrepossessions.com offers, through a close working relationship with the banks the opportunity to purchase luxury properties on golf resorts including Corvera, Mar Menor and Terrazes de La Torre.
The financial situation in Spain has been well reported, with the bank, poor exchange rates and drying up of mortgages which hasn’t helped the Spanish property market. Many developments were part sold leaving promoters in a difficult situation, having legally to finish properties and facilities, knowing that they would be left with properties difficult to sell and facilities that wouldn’t be used. Developers went out of business because resorts were financed by builder’s mortgages, money loaned against properties and they just couldn’t afford the payments and community fees. Buyers got cold feet and refused to complete on contracts, even though they had paid substantial deposits, refusing or not being unable to complete, because the banks withdrew
Mortgage offers or terms changed, buyers even agreed terms to cancel their contracts loosing substantial deposits, the result is a potential benefit to people looking to invest in what are properties on finished developments being offered at discounts of more than 70% from the original prices
Some developers looking to survive were left with little choice, to finish the developments, golf courses and facilities and hand back the ownership of unsold properties to the banks, as full or part payment of the mortgages, banks then left with assets that they have to dispose of offer these properties, at large discounts allowing buyers purchase directly from the bank and murciabankrepossessions. has now launched with a dedicated website, offering the best value Bank properties in the Murcia region of Spain including Corvera Golf & Country Club, Terrazes de la Torres, La Torre, Condado de Alhama, from €49k
murciabankrepossessions is a group company of InspectaHomeSpain, a company that specialised in professional new property inspections and defects management. For the last 7 years have helped new property buyers to manage the buying process but also developed successful businesses providing property management and rentals through Corvera Holidays The approach is different and because properties are often sold as seen, we check properties, prior to offering them for sale, recording the condition and grade allowing us to advise the buyer on the defects and any remedial works required, before you even view the property, saving the buyer time because defects are common as these properties may have been standing empty for 2-3 years, things like water ingress or fixtures missing are very common.
There are a few things to watch out for, the sales process can be more complex and take longer because of the additional red tape, which is why we are selective on which banks we represent The major difference is that these properties, although they are new and have never been occupied, are legally a resale property, legally owned by the bank and subject to the higher rate of IVA and additional transfer costs. They are sold as seen, they typically have been standing empty for many years and unlike a new property, where you can submit a snagging list for repairs, this is not offered. In addition on new you receive a 3 year guarantee for anything that results in the property being made non-habitable. You do have the 10 year structural guarantee still in place. Also there are no guarantees of items such as white goods, boilers, plumbing and AC units so these need to be checked carefully but with the availability and prices around there are some great bargains, visit for more information
Murcia Bank Repossessions are part of the InspectaHomeSpain group which includes Corvera Services and Corvera Holidays and have operated in Spain for 9 years with extensive experience in professional property management, inspections and rentals