Flat for sale in Garrucha, Almería

Investment opportunity for professional investors only.
Mortgage debt acquisition secured by a residential property located in the center of Garrucha (Almería, Spain).

This is not a direct property purchase.
The asset offered is the purchase of the mortgage debt, not the immediate acquisition of the property.
The property cannot be deeded immediately and ownership can only be obtained after completion of the legal foreclosure and/or auction process, with an estimated timeframe of approximately 3 years.

Transaction details
Total outstanding debt: €113,000
Debt purchase price: €69,000
Estimated legal costs: €3,000
(lawyer’s fees required to initiate foreclosure / enforcement proceedings)
Total estimated investment: €72,000

Property details (mortgage collateral)
Apartment with 2 bedrooms and 1 bathroom
Building with elevator
Located in the center of Garrucha
Estimated market value: €120,000
Condition: viewings possible (keys available)

Legal process & exit strategy
Lawyer required to initiate foreclosure proceedings
Estimated legal process duration: approx. 3 years
Expected exit: Public auction

Estimated returns
Estimated auction proceeds: €113,000
Estimated net profit: €41,000
Total estimated return: approx. 57%
Estimated annual return: approx. 16% per year

Important notice:
All timelines and financial figures are estimates and subject to the outcome of judicial proceedings.