Buying Procedure

Buying Bank Repossessed Property in Spain

This website only lists bank repossessed properties in Spain, we do not feature private sales and we are not Estate Agents. AIS are official listing agents for property that has been repossessed by the banks, for private dwellings this is generally because of default of repayments by the owner and the bank has no option but to repossess, you are buying directly from the bank as the bank now own the said property.

There are also cases where a developer has gone bust and the bank has stepped in to finish the project and sell the properties, whatever the case the bank have a vested interest in the properties shown on this website.

Buyer Beware, you may see properties advertised on some website where they offer a 110% mortgage to cover the buying costs as well as the property purchase. Well for a start it is not possible to legally finance the buying costs of any property in Spain so this is more than likely a private arrangement, obviously this could have implications that you don’t want somewhere down the line so at least be aware of this. Also properties which qualify for a 100% mortgage generally have a greater purchase price.

The normal mortgage terms for a non resident buying a property in Spain is between 60% – 80%, anyone who offers any more than this make sure you are not paying a much higher rate of interest, its the old story of you get what you pay for and if it seems too good to be true it probably is…. bla bla bla! I just wanted to get these few words of warning in for your security.

Hard & Fast Rules For Buyers.

To be able to buy a repossession you must be in a position to act fast, the very nature of bank repossessed properties is that they are priced to sell quickly so it’s no good whatsoever looking for a property if you intend to come to Spain in the coming months, what is available today probably will not be tomorrow!

Do not set your heart on one particular property as it could be gone by the time you get there, instead choose to view more than one property in your chosen area.


If you require financing to purchase the property you will also complete a mortgage application form, your property advisor will advise you which documents you’ll need to get approved for a mortgage.

When everything is approved you will complete the compraventa (a private purchase contract) whereupon 10% of the agreed purchase price will be made.

It’s a simple and safe process buying a repossessed property directly from the bank.