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Is this a scam

Posted: Sat Aug 1, 2020 9:56am
10 replies433 views5 members subscribed
Suzyblue55

Posts: 3

2 helpful points

Location: Torrevieja

Joined: 1 Aug 2020

Has any one ever heard or  received emails regarding bank repossession 

Is it normal practice for a agent to take a 2500 holding fee to secure the property without seeing any paperwork regarding the property 

I have tried to google this company but get no suggestions 

Please if anyone can advise me I would be extremely grateful 

Kimmy11

Posted: Sat Aug 1, 2020 10:13am

Kimmy11

Legendary helpful member

Posts: 2969

3782 helpful points

Joined: 8 Aug 2017

Posted: Sat Aug 1, 2020 10:13am

Hi Suzy,

I've never heard of this company.  That doesn't mean it's a scam, but some of the best advice you'll receive from this forum is never pay a holding/reservation fee to an agent, only to your abogado (lawyer).

If you're interested in buying a bank repossession,  you would be best to deal direct with the banks.  For example, Sabadell bank have a company called Solvia that handles the resale of their repossessions.

Kind regards  

Kim

Suzyblue55

Posted: Sat Aug 1, 2020 11:49am

Suzyblue55

Original Poster

Posts: 3

2 helpful points

Location: Torrevieja

Joined: 1 Aug 2020

Posted: Sat Aug 1, 2020 11:49am

Kimmy11 wrote on Sat Aug 1, 2020 10:13am:

Hi Suzy,

I've never heard of this company.  That doesn't mean it's a scam, but some of the best advice you'll receive from this forum is never pay a holding/reservation fee to an agent, only to your abogado (lawyer).

If you're interested in buying a bank repossession,  you would be best to deal direct with the banks.  For example, Sabadell bank have a company called Solvia that handles the resale of their repossessions.

Kind regards  

Kim

Thx k you very much appreciated . I will look into it . 

dinnerout

Posted: Sat Aug 1, 2020 1:28pm

dinnerout

Very helpful member

Posts: 1005

735 helpful points

Location: Beniarbeig

Joined: 18 Sep 2015

Posted: Sat Aug 1, 2020 1:28pm

Suzyblue55 wrote on Sat Aug 1, 2020 9:56am:

Has any one ever heard or  received emails regarding bank repossession 

Is it normal practice for a agent to take a 2500 holding fee to secure the property without seeing any paperwork regarding the property 

I have tried to google this company but get no suggestions 

Please if anyone can advise me I would be extremely grateful 

Scam 100%

Do not be tempted!

Steve

RayD

Posted: Sat Aug 1, 2020 2:01pm

RayD

Legendary helpful member

Posts: 7423

6417 helpful points

Location: Catral

Joined: 6 Jan 2016

Posted: Sat Aug 1, 2020 2:01pm

Don't forget that if you buy a cheap bank repossession, you can be clobbered for paying tax on the amount you saved.

It's called 'complementary tax'.

Tomb

Posted: Sat Aug 1, 2020 7:18pm

Tomb

Helpful member

Posts: 97

88 helpful points

Joined: 13 May 2017

Posted: Sat Aug 1, 2020 7:18pm

Suzyblue55 wrote on Sat Aug 1, 2020 9:56am:

Has any one ever heard or  received emails regarding bank repossession 

Is it normal practice for a agent to take a 2500 holding fee to secure the property without seeing any paperwork regarding the property 

I have tried to google this company but get no suggestions 

Please if anyone can advise me I would be extremely grateful 

Remember the old adage which is the best advice you will receive. If it sounds too good to be true, ........

Read and act on what other forum posters have written and you will more than likely not become a victim.

Regards.

Tom.

Manda

Posted: Sun Aug 2, 2020 4:39pm

Posts: 26

5 helpful points

Location: Rojales

Joined: 30 Jun 2018

Posted: Sun Aug 2, 2020 4:39pm

Kimmy11 wrote on Sat Aug 1, 2020 10:13am:

Hi Suzy,

I've never heard of this company.  That doesn't mean it's a scam, but some of the best advice you'll receive from this forum is never pay a holding/reservation fee to an agent, only to your abogado (lawyer).

If you're interested in buying a bank repossession,  you would be best to deal direct with the banks.  For example, Sabadell bank have a company called Solvia that handles the resale of their repossessions.

Kind regards  

Kim

Hi Kim

Where would I find an English language link as I can only locate the Spanish language one.

Regards and thanks.

Kimmy11

Posted: Sun Aug 2, 2020 8:08pm

Kimmy11

Legendary helpful member

Posts: 2969

3782 helpful points

Joined: 8 Aug 2017

Posted: Sun Aug 2, 2020 8:08pm

Manda wrote on Sun Aug 2, 2020 4:39pm:

Hi Kim

Where would I find an English language link as I can only locate the Spanish language one.

Regards and thanks.

Hi Suzy,

If you scroll to the bottom of the homepage, there's a list of 'Idiomas" (languages), from which you select 'Ingles' - I've done it for you, but thought I'd let you know what to look for, as you'll probably encounter the same thing on other websites:

https://www.solviarealestate.com/en/home/6

Kind regards,

Kim

Manda

Posted: Mon Aug 3, 2020 11:28am

Posts: 26

5 helpful points

Location: Rojales

Joined: 30 Jun 2018

Posted: Mon Aug 3, 2020 11:28am

Kimmy11 wrote on Sun Aug 2, 2020 8:08pm:

Hi Suzy,

If you scroll to the bottom of the homepage, there's a list of 'Idiomas" (languages), from which you select 'Ingles' - I've done it for you, but thought I'd let you know what to look for, as you'll probably encounter the same thing on other websites:

Thanks Suzy. Much appreciated.

dinnerout

Posted: Mon Aug 3, 2020 4:14pm

dinnerout

Very helpful member

Posts: 1005

735 helpful points

Location: Beniarbeig

Joined: 18 Sep 2015

Posted: Mon Aug 3, 2020 4:14pm

Manda wrote on Mon Aug 3, 2020 11:28am:

Thanks Suzy. Much appreciated.

I bought a repossession from Solvia in 2016. They were not very easy to deal with, but it was very much worth the patience. Normally with Solvia you pay a reservation fee of 500, followed by 10% (less the 500) and a bankers draft for the balance at Notary on completion day.

I have noticed recently (last 2 years) that they don't offer the bargains they once did, but that may well change in the next 2 years if they find themselves repossessing a lot of property because of Covid related defaults.

Steve

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