bad bank via cajamrcia bank

we where due to complete on monday  on a villa all morgage sorted  through cajamurcia bank moneys in bank all reaqdy to go now had call from solicitors thursday to say no sale the propery has gone to bad bank from the bank  .? the agents loose money they had the villa painted all snags done put in lighting fitttings etc .the solicitors done their work . now nothing .told can take higher ?they wont sell to us now.if u follow earlier on here will see the price of the property went up which we delt with becase we want it badly so now a few days before its gone totally . whats going on ? devastated now

 The Spanish government established SARAB, the "bad bank" to take on the property portfolio of all the nationised banks and other banks that required government financing. The bank now holds around 98,000 properties valued at some 45Billion euros.  

The troubled banks were therefore trying to off load as many properties as possibe, by offereing reduced prices, before they had to transfer all unsold property to SARAB this week.

Unfortunatley it seems that some buyers have been left in the trap where they have arranged a purchase but not completed before the deadline.  I feel really sorry for you thehuntsmanlass, lets hope that a solution can be found for your situation.

I just bought at La Terrazas de la Torre direct from Polaris rather than a bank property, seems they are back selling some of their remaining stock at the resort. Paid €49,995 on Islas for a first floor 2 bed apartment, bank were about the same but Polaris counted as a new build with 4% tax vs the banks which were resales at 7%.

I realise the facilities aren't on a par with Condado, as I looked at a Jardin 5 apartment, but it was smaller 57 v 67 m2