Distressed sales and bargain properties for sale Costa del Sol.

What exactly is the definition of a "Distressed Property"? It is a term being used by many estate agents and private sellers in today's turbulent Spanish property market, however, there does not seem to be general consensus as to a proper general definition and as a result, you will find thousands of properties marketed as "Distressed Property" or "Bargain Property" when in actual fact they are not such a great buy!

This section of our site offers a selection of properties which we have classified as distressed or bargain properties because we believe that the price reflects a substantial discount (at least 20%) off the market value. Please see below for a selection of distressed and bargain properties in Marbella and the rest of the Costa del Sol.

So why are these properties a good buy and why have we classified them as "Distressed Properties"? Well, there are many reasons for which a property could be on the market at highly discounted prices, here's just a few...

• The owners bought as an investment and are trying to sell the property before having to close the sale and pay the developer in full. They prefer to lose part of their initial investment and sell cheaply than to forfeit all their stage payments as a result of not having the funding to complete the sale.
• The owner of the property is about to get repossessed by the bank and needs to clear their debt before losing everything.
• Some owners have no mortgage on the property but are forced to sell for personal reasons (health, returning to home country, etc)
• Developers are trying to get rid of stock to cover costs and repay bank loans.
• Some owners who bought 5 or 6 years ago are prepared to sell their properties at reasonable prices so that they can reinvest their capital elsewhere. They understand that in order to sell, they have to price their properties accordingly.
• The low Sterling exchange rate against the Euro allows many British owners to lower their prices significantly(up to 30%) and still make an adequate profit out of the deal.

At this point we must make a reference to Bank Repossessions. You will often see many properties advertised as "Bank Repossessions" however, this is often unlikely as this type of property is usually help directly by the banks and cajas (savings banks) It is rare for these institutions to publish information and photos about these properties. The procedure for getting access to Bank Repossessed properties can be complex and it is often only through word of mouth and good contacts that you can learn of true bargains.

We would recommend you speak to your bank manager or estate agent as they are often the first port of call when trying to obtain up to date information on Bank Repossessions. If you are interested in this type of property we would be happy to offer you help and guidance through our relationships with various banks and professionals on the Costa del Sol.

Join our Newsletter (Sign up form on the left hand margin of this page) for regular updates on Distressed and Bargain Properties in Marbella and the rest of the Costa del Sol. Alternatively, check out our Blog where we will be posting articles and tips relating to interesting property deals!