Ibex Banks and Saving Banks have around 60.000 houses on sale, according to Expansión.
Some of the offered units by Banks are actually developers´properties. Banks are interested on these sales so developers can pay up their debts with them. As interested as if the units were their own....which actually are.
No surprise if Banks are making offices, websites and financiation ( sometimes of the100% ) available to developers so they can sell their stock. A clear sign of how them two were together in the market: these products are actually commun products of the two. In a too high grade and number, the two made their businesses without the necessary respect towards buyers´ interests, money and savings: an insane market driven by compullsive financers.
According to Consultors Acuña y Asociados there is still a 20% price fall to come in 2011. More than this is needed if they want to sell. The price reduction process is quite simple, much more simple than what banks and developers portray: they just need to forget about the old standards of ego-gains they have been miss-enjoying to the cost of ordinary people´s savings and dreams. They need to turn to PEOPLE. That simple.
Good personalist philosophers for Banks please... urgently! One per branch.
In the legal aspect: no wonder, consumers need to be strong and active in these scenario, both as prospective buyers and also as owners of buying rights on these units.
As owners of buying rights on these units, if you have a contract which has not been cancelled, I would advise you to make clear what your position is, with the help of a lawyer, in order to prevent your money is just swallowed by them and the house of your contract is sold to someone else without due respect to your existing rights.
As a possible buyer, do not rush in to purchase attracted by the incredibly low price and have your lawyer checking on the legals and a surveyor taking a look on the building conditions.
.jpg)
Balcon in Guadix, Granada. By Manuel M. Ramos at Flickr.com