Once again, the State News Agency (BOE) has published information about residential real estate affordable for those who have a limited budget. Such properties are sold through an auction and everyone from any part of Spain can bid on the lots.
It is worth noting that as part of such an event, not only residential properties are sold, but also vehicles and other property and assets. In most cases, the real estate sold in this way, or another asset, is seized from the debtor, who could not or refused to repay the loan for the acquired object.
They seek to sell them as soon as possible to new owners to cover unpaid expenses. To sell goods quickly, low prices and favorable conditions are offered for it. For this reason, the starting price of the item put up for auction is significantly lower than what can be found in the regular market.
Below are examples of what can be found at similar auctions.
Apartment in Lleida for €125,700
One of the new properties auctioned by BOE is a 68 square meter apartment in Lleida. It is located in a nice residential complex and has a kitchen, three bedrooms, a bathroom and a living room. The purchase of this property does not require a first deposit and an accompanying purchase fee.
Villa in Santa Cruz de Tenerife for €73,200
Another BOE lot is located in the Canary Islands and is a two-story villa 25 minutes from Tenerife. The plot covers an area of 141 square meters, and the building itself - 86 square meters. As with the apartment in Lleida, there is no down payment, but there are fees and charges. You will need to cover at least 50% in the form of a deposit.
Apartment in Gijon for €60,200
This apartment is located in the center of a large industrial city in Asturias - Gijón. The housing area is 79 square meters. No down payment and no need to pay fees.
Apartment in Santa Cruz de Tenerife for €56,800
The facility is located on the first floor of a residential complex in the coastal town of Candelaria - just a quarter of an hour from Santa Cruz de Tenerife. The area of the apartment is 55 square meters, there is a beach and a large terrace nearby. Associated costs for the acquisition of an object from the auction may amount to €53,000.
How to participate in BOE auctions
All Spanish citizens can participate in BOE auctions. It is necessary to create a profile on the official portal, and then make a certain deposit from a bank account, which will confirm that a person has the financial means to participate in the auction.