Of course, there are some great Spanish bank repossessions on the Costa Blanca. Indeed, sometimes you can get a genuine bargain house that has a quality, price and location that would normally be considered outrageous However, not all Spanish bank repossessions on the Costa Blanca are good buys and you must never think that just because you are buying a bank repossession that you should not employ a proper conveyancing lawyer to do the due diligence on the property that you are buying. In fact, buying Spanish bank repossessions requires very particular attention with regard to their legalities and any liabilities. This is because many Spanish banks sell their properties on the basis of Caveat Emptor (Let the Buyer Beware). In other words, what you ‘see’ is what you get – even if that means that the property concerned comes with debts. It is therefore up to you not the bank to find out what are those debts or legal problems! Certainly, I have come across several clients recently who have ended up having unexpected problems, having purchased a bank repossession without proper legal support. For example, this week I met a person who bought a property from a bank....
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