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Buying bank-owned homes: What are my options?

Buying bank-owned homes is an attractive option for those looking for affordable real estate opportunities. However, there are several options, and not all of them are suitable for everyone. In this post we show you the 5 most common modalities, for what type of buyer each of them would be and what risks they entail. From the most opportunistic, for qualified investors, to the most common options (where there is hardly any difference with the market price).

• Auctions,
• Home purchase

Don't do this if you want to survive an Auction Assignment.

The assignment of auctions is a powerful and little known tool in the legal and real estate world. It is a procedural figure that allows the original successful bidder of an auction, usually a creditor, to transfer his rights over the auctioned property to a third party. This third party, called assignee, becomes for all legal purposes the new successful bidder, with the same rights and obligations as the original successful bidder.

• Auctions

BOE Housing Auctions: How do they work?

Electronic judicial auctions have transformed the auction market in Spain since their implementation in 2015, allowing anyone, from home, to participate in the purchase of real estate and other assets auctioned by the courts. This now digital process has simplified and democratized access, eliminating geographical barriers and improving transparency.

• Auctions

Auction Assignment Risks

Acquiring a property through an auction assignment may seem like an excellent opportunity due to the possibility of obtaining properties at prices below their real market value (although this is not always the case, beware!). However, this acquisition entails significant risks that must be considered in order to avoid legal and financial complications. In fact, the risks are exactly the same as if we had gone to the auction in question and won it. The following are the main risks that we assume with the auction assignment.

• Auctions

Housing Auctions: Doubtful Charges (Risks for Awardees)

En el ámbito de las subastas judiciales, un aspecto crucial que a menudo pasa desapercibido es el de las cargas registrales de dudosa cancelación. Estos elementos, aunque menos evidentes, pueden plantear serios riesgos para los adjudicatarios. En este artículo, exploraremos estos riesgos y cómo impactan a los compradores en las subastas judiciales, ofreciendo una visión clara para inversores y profesionales del sector.

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• Stories

Chronicle of a disaster foretold: An auction, a maximum mortgage and a hidden charge of 66,000€.

En 2016, una vivienda en Málaga entró en un proceso de ejecución ordinario debido al impago reiterado de las cuotas de una deuda registrada en la nota simple. Tras varios años en litigio, la vivienda fue finalmente puesta en subasta judicial en 2021. El protagonista de esta historia vio la oportunidad de adquirir una vivienda por debajo del precio de mercado y, en principio, lo consiguió. Sin embargo, una hipoteca de máximo no entendida supuso que tuviera que hacer frente a una deuda inesperada.

• Auctions

Home Auctions: When you assume more burdens than registered (Risks for Awardees)

Tras haber abordado los riesgos de las cargas registrales en subastas de viviendas a las que el adjudicatario se subroga, este tercer artículo de nuestra serie se enfoca en una cuestión menos evidente pero igualmente crítica: la posibilidad de asumir cargas registrales mayores de lo esperado. Analizaremos cómo las discrepancias entre la información proporcionada y su reflejo en los registros pueden llevar a responsabilidades y costos no anticipados para los compradores. A través de ejemplos y sentencias judiciales relevantes, como las de las Audiencias Provinciales de Guadalajara y Madrid, ilustraremos las complejidades y precauciones necesarias en el mundo de las subastas inmobiliarias.

• Auctions,
• Home purchase

Housing Auctions: the real risks and pitfalls

The world of judicial real estate auctions attracts numerous investors and buyers because of the promising opportunities to acquire properties at reduced prices. While they appear to be an attractive option, it is essential that interested parties, whether they are professionals in the industry or casual buyers, go into this process with their eyes wide open. Beyond the allure of a "good deal," there are hidden risks that can turn a seemingly safe investment into a source of complications and unexpected expenses.

• Auctions,
• Home purchase

How to acquire real estate from a bank through an Assignment of Auction

The acquisition of real estate properties has evolved over the years, and one of the forms that has gained relevance in Spain is the assignment of the auction. This, especially when it comes to properties belonging to banking entities. But, what exactly does it mean and how does it relate to the purchase of real estate from banks?

• Auctions,
• Home purchase,
• Products

Foreclosure Auctions: Preferential Liens

Foreclosure auctions can be a good opportunity to acquire a property at a lower price. However, it is important to know the encumbrances that exist in them to avoid problems. The encumbrances in an auction are divided into encumbrances prior to the executed debt, encumbrances subsequent to the executed debt, and preferred debts. Misreading the property's registry certificate or being unaware of these encumbrances will almost certainly result in a failed investment in the auction.

• Auctions,
• Home purchase

How to buy a house through auction in Spain

Buying a house through an auction in Spain can be an exciting and profitable way to acquire a property. However, before embarking on this process, it's important to understand the necessary steps and potential risks involved in purchasing a house through an auction.