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PROPERTIES AT THE COSTA DEL SOL,SPAIN AT 50 TILL 70 PERCENT CHEAPER BY REPOSSIONS BY COURT |
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REAL EMERGING MARKET – COURT APPOINTED SALES
For the first time ever, the opportunity to partake in Spanish court appointed property auctions is being offered to our clients where previously these ultra low priced properties have only been available to a select few – and never outside of Spain. Cash ready purchasers are now able to acquire properties at a fraction of their conservative current valuations via a legal process which exposes the given property at this price for the first time.
Property owners in Spain who find themselves unable to pay their mortgage or find that they are faced with large arrears on a tax bill or social security bill, can find their properties offered for sale in a sealed bid court hearing instigated by their creditors.
The court hearing is NOT a bank repossession, it is NOT a distressed sale, it is the legal process of 'Selling off properties to settle outstanding debts of individuals unable to pay'.
Each property is offered only once in this manner on the date stated by the court. The system we have devised has a 7 day turnaround from notices being posted to auction day - it is imperative that Power of Attorney and funds are in place in readiness to proceed immediately. This procedure offers the buyer the opportunity to purchase a specific property at a phenomenally low price – but only if you are registered within the system.
It is fair to say this method of property acquisition is not for everybody.
Why? Because of the necessity for ready funds and the ability to act very quickly when identifying a property you would wish to own.
We are offering totally legal, freehold property throughout the province of Malaga. These properties are official court disposals prior to repossession, they cannot be found elsewhere - you will not find details anywhere else as they are subject to ongoing Court proceedings.
· Spanish Court Appointed Property Sales is a legal process
· It is involved and complicated
· It does however, offer an unrivalled opportunity to buy properties
at well below market value and at a fraction of their real worth
· Typically properties are selling for less than 50% of Market
Valuation
Real Emerging Markets have been invited and instructed to make the world market aware of the latest property auctions and to handle the entire bid and buying process thereby making the procedure as simple and seamless as possible. We ensure all legalities are in place, provide a true market value of the property, and can visit the location of any of our listed properties on behalf of our client prior to auction day.
The established company of lawyers Real Emerging Markets have instructed to act on behalf of our clients will oversee the purchase process of the properties coming up for auction. As a client of ours you have the best possible chance to secure a property of your choice at absolutely the lowest cost. The lawyer presents the sealed bid on your behalf based on the research and expertise provided by Real Emerging Markets to determine the figure most likely to be successful.
1. Arrange a personal consultation
2. Establish funds
3. Set up Power of Attorney
4. Choose a selection of properties
5. Instruct appointed lawyer to attend the auction
The properties displayed in our portfolio are a very small cross-section of recent offerings. However, once a client is fully registered within our system, they will have exclusive access to properties coming up for auction which will not be shown anywhere else. This bespoke service is unique to Real Emerging Markets and will give the buyer an extremely good chance of being the successful bidder.
It is imperative that the prospective client has granted Power of Attorney to the appointed lawyer and lodged sufficient funds as deposit for this process to begin. This virtually ensures that the client will purchase a given property at substantially less than market value. To summarise, our clients need to put in place Power of Attorney and lodge deposit funds to enable this process to begin.
In order to be informed of properties coming up for auction you need to register and tell us what type of property you require in what area and what price range interests you.
Real Emerging Markets collect the property details from the courts in the Malaga province and thus we are able to notify you on a daily basis which properties are coming up for auction within the following week. The success of this system is the ability of the prospective buyer to move quickly. (POA needs to be in place and funds deposited with the court on the day of auction).
We will establish what bid is deemed to be the most likely to secure the selected property (based on legal searches, who holds the debt and outstanding amount of debt). Having confirmed the desire to bid, the lawyer then proceeds to court on behalf of the client. Real Emerging Markets will only ever go to Court with one bid for any one property.
At this point the information you have will be as follows:
1. The property type and location
2. A professional market appraisal
3. The area of bid you will need to participate in the auction with a
good chance of success of securing the property (this will be
based on what debt is outstanding and how much of that the
bank hopes to get back)
4. The total administration costs including all taxes to be added
after a successful bid
When you are ready to bid you must lodge a deposit (set by the courts) with the lawyer. This money is held within their client account until the day of the auction when the funds are given to the court in the form of a banker's draft or by bank transfer.
This deposit will be returned in full in the unlikely event of the bid being unsuccessful.
For those clients wishing to put the property back on the open market our experienced sales team will advise you on what price we should be marketing the property at, commissions involved and introduce prospective buyers. Equally we can advise our clients regarding holiday and long term rentals, if this is something that is of interest.
With this information you will be able to calculate your profit margin quite accurately.
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