What is a bank flat?
This is how homes owned by financial institutions are known. Sometimes, as part of awards, as an investment, or because of an embargo, banks have owned apartments. Many entities offer housing sale or rental services of their so-called bank flats at very interesting prices and at Ker 2000 we have a wide offer to buy repossessed bank flats in Valladolid.
The process to buy a flat from a financial institution is no different from buying a house from an individual. However, the financing they offer is infinitely more beneficial for the buyer.
What is the reduction in the price of a repossessed apartment?
The objective of the banking entities is to sell their apartments to recover, as soon as possible, the money lost from the mortgages not paid by the previous owners and that gave rise to their seizure. Therefore, sometimes you can find repossessed apartments in Valladolid with a discount of up to 70%. Banks sell their flats at a price below the market on most occasions, and sometimes they can even do so above that price if they consider that it is still a tempting offer. However, they usually have promotions that are well worth taking a look at.
In the Ker 2000 property catalog you can get a preliminary idea of the diverse sale of bank flats in Valladolid.
List of banks we work with
Find the best flats, houses and properties repossessed from banks in Valladolid. We have thousands of flats from banks at the best price. These are the banking entities that have placed their trust in Ker 2000 to manage the sale of repossessed flats in Valladolid:
- La Caixa
- Sareb, the company in charge of selling and managing the loans and properties of the entities.
Areas where we have a banking product in Valladolid
If you have thought live in Valladolid, in Ker 2000 you have a wide variety of cheap flats from banks in Valladolid, these are the areas where you can find flats repossessed by the banks.
- Center: If you are a cosmopolitan person, do not miss the advantages of living in the center of the city of Valladolid. Less time in transport and more means of transport, wherever you go you will spend less time in public or private transport, which means an economic benefit and the ease of accessing any point in the city. Most of the time you can go for a walk to your workplace and to the leisure and shopping venues that you frequent.
- Arroyo de la Encomienda: quiet and pleasant town with many areas with great potential. If you like green areas, the neighborhoods of Aranzana or the Sotoverde Urbanization will win you over. In addition, they usually include a garage and storage room. You can buy a bank apartment with large common areas consisting of a swimming pool, gym and playground.
- Arcas Reales: a historic area, transformed and converted into a residential area, a new urban project that incorporates new expansion spaces, a large linear park, green areas and promenades. Buy a bank repossessed apartment in a controlled space for your children’s play and spaciousness for walks and meetings with your family.
- El Peral: the southern part of the city is the ideal area to live in a modern environment that includes a wide variety of leisure and services, such as schools, a health center, shops or parks.
- La Farola: this neighborhood belongs to the southern part of the city, adjacent to Paseo Zorrilla. It is a district that connects the area of Las Norias with Paseo Zorrilla through a footbridge that replaced the level crossing. This Valladolid neighborhood is called La Farola due to a railway disc that was in the area more than 40 years ago. A traditional neighborhood with history and a multitude of shops at your fingertips.
- San Pablo: if there is an emblematic site and an essential thing to visit in Valladolid is the Plaza de San Pablo. A location full of charm and living history. You should not miss visiting the bank flats that you will find in the area. Its vibrant history and architectural beauty will win you over.
What are the advantages and disadvantages of buying a bank apartment in Valladolid?
As the main person interested in the purchase of bank apartments in Valladolid it is important to do a preliminary study to consider the advantages and disadvantages of buying bank apartments, and thus determine whether or not it is a suitable investment.
In Ker 2000 we indicate the advantages and disadvantages of acquiring cheap flats from banks in Valladolid.
Advantages of buying a bank flat
- Prices below the market: the interested party can acquire a home at a lower value than what exists in the market. As we have already explained, this occurs because the bank is not primarily engaged in the real estate sector and, therefore, seeks to get out of foreclosed homes quickly. That is why different offers arise that include attractive prices. In addition, they have the approval of the European central bank. This establishes as regulations that entities apply emergency protocols so that they mobilize their stock of flats as quickly as possible to recover their assets.
- Better financing: as the banks need to liquidate the available homes, they show facilities to obtain financing, financing of up to 100% of the mortgage.
- Terms: Conditions also improve in terms of payment terms offered by the bank. You may get a repayment term of up to 40 years. Thus, the monthly installments of the payments are lower and the buyer can face them without solvency problems.
- Savings on appraisal: when you buy an apartment from the bank, it is the bank that assumes the costs of the appraisal, the bank will be in charge of valuing the total cost of the property.
- Getting a mortgage quickly: For many homebuyers, getting a mortgage is incredibly difficult. For this reason, buying a bank apartment offers more opportunities to obtain financing without having to go through bureaucratic processes for approval.
Disadvantages of buying a bank flat
- Lack of information: although it is true that the entities are dedicated to showing the available offer, the reality is that all the information on the repossessed apartments is not always complete. It is often unknown who the previous owners were, the real conditions of the house, whether or not it has plans and even the most basic data regarding the supply of basic services, as well as the expenses associated with the community.
- The reforms: The most normal thing is that some of the apartments that the banks sell need reforms. Most properties are sold as received by the bank. Sometimes it is only necessary to make basic adjustments to the houses, but other times a complete reform is required.
How can I buy repossessed houses in Valladolid?
Finding cheap apartments from banks in Valladolid is easy. Ker 2000 has in its catalog homes from the aforementioned banks, 100% reliable options in the market.
Rely on our advice to consult all the conditions that the bank requires before visiting and buying the repossessed house, details to take into account such as the need for a guarantee, the appraisal and, above all, the conditions of the mortgage, which they usually have a lower interest rate than normal.
If you are looking for bank apartments in Valladolid, at Ker 2000 we accompany you throughout the purchase process, from selecting your home and first visits, to signing the sale with the chosen financial institution. It is also important to make sure you know the state of the property:
- You must make sure that the embargo has been lifted by the court and canceled in the Land Registry before executing the deed of sale. In this way it is avoided that when acquiring the property, it is also necessary to respond to the debts of the selling bank.
- Verify that the property has no encumbrances: unpaid bills, outstanding community fees, etc.
- Check that the property is uninhabited.
We are an expert real estate in Valladolid we offer a comprehensive, exclusive and professional service. More than 30 years guarantee us by our experience in property management, as well as our total transparency in each project carried out. Trust Ker 2000 to buy repossessed apartments in Valladolid.