Discover the advantage of acquiring a property at an unbeatable price! We offer a unique opportunity for both investors and home seekers to purchase properties at advantageous prices.
Renovate an apartment or a house to create a dream home. By buying and renovating a property, there is an opportunity to increase the value of the home, which can lead to a good profit in the future.
Real estate investments are sought after both nationally and internationally by investors. Upgrading a property often generates a very good profit upon sale or long-term leasing, as the demand for apartments and houses has been both high and constant for many years.
Furthermore, for those who wish, FAQ Mallorca can offer a large network of local craftsmen and construction companies that all share our Scandinavian style, philosophy, and business ethics. This creates great potential for the buyer.
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Bank repossessions usually occur after the borrower has missed several payments or has been unable to fulfil the loan agreement in another way. The bank has legal rights to repossess property used as collateral for the loan.
Buying a property that is a bank repossession can have several advantages, but there are also some risks to be aware of. Here are some of the benefits of buying a bank repossession:
Lower price. Banks want to quickly sell repossessed properties to recover as much of the loan as possible. This can lead to the price being set low compared to the market value.
Opportunity to negotiate. Since the bank is eager to sell the repossessed property, there may be room for negotiation on the price.
Investment opportunity. If you are an investor and have the opportunity to renovate or upgrade the property, you can increase its value and make a profit when you sell it on.
However, there are also risks to consider when considering buying a bank repossession:
May be in poor condition. Repossessed property is sometimes in worse condition than other properties on the market, which may require significant renovations or hence the low price.
Limited insight. Banks sell properties as is.