property professionals based in the Costa Del Sol specialising in bank repossessions
:: KEY READY REPOSSESSIONS ::
The "Key Ready" repossession is a property which has already been through the entire judicial process. The property has not been purchased at the auction, the current owner has not come back to pay off the outstanding debts and arrears, therefore at this stage the bank agree the figure and declare the property KEY READY.
Once your deposit is paid, your legal representative will obtain all of the files of the property in question from the bank. When you agree to the breakdown of costs/fees and are happy to proceed, a notary date will be set, where the final balance and costs will be paid.
These properties are still priced much lower than the current market value and can be completed within weeks, at the Notary. You can then either move in and enjoy your new home or start earning an extra income by renting your property on a short or long term basis.
Properties in the repossession process cannot be mortgaged at this stage. However you can arrange a mortgage within a few months after completion has taken place, once the escritura (title deeds) have been provided. We can assist you with this.
On all properties, a bank/broker fee is payable. These figures will be discussed when you are given your property options, prior to making any decisions.
For Key Ready properties available please click here.