Postado em Açores forum
Hello-
I’m new to this community and would live resources, websites, etc that would help with a move to Sao Miguel. I’m coming back out in July but in the meantime, what can I be doing, etc. also looking for a small home if you know any pocket listings!
Thanks
Debi
Bank Sales
Postado por Robert Hahn em Açores forum
Thanks for the correction Kevin, are these bank sales available on other islands?
Moving to the Azores
Postado por Kevin Barry em Açores forum
No actually I have a guy who works only with bank sales..??? You can have a list of forclorses than you can buy for the amount the bank is owed..example my friends from Ireland are buying a building worth 560.000€ and are paying 138.000 . But if you don't have a specific area..?? You can get Good deals..NOT A SHORT SALE..
House Hunting
Postado por Robert Hahn em Açores forum
I think what Kevin is referring to is what we call in the US a "short sale" where the owner sells a home for less than what they owe. While the property is still owned by the lender the bank has agreed to accept offers for what is owed. While a foreclosure normally is a property that is taking over by the bank normally because of default payments; it may or may not be "short". My advise to anyone coming to the Azores or mainland Portugal is to have enough in savings to secure your dream home. Relying on the banks here in Portugal for financing can take a long time and then you are not guaranteed to be approved for a loan. I would also suggest renting a place first to discover what the areas around your dream location have to offer.
Home
Postado por Kevin Barry em Açores forum
i have a good guy who deals with bank sale homes..you can get great deals..you only pay what bank is owed