Flat for sale in Palma de Mallorca, Mallorca

Special conditions sale - remate assignment modality

Housing in Palma (Balearic Islands) property in remate assignment without possession.

What is a remate assignment? A remate assignment is the legal process by which the person or entity that wins a judicial auction (the adjudicator, often a bank) transfers their right to acquire an auctioned asset to a third party (assignee) before the property is formalized, allowing the latter to take the asset by paying an agreed price, a popular option for investors seeking to acquire properties at opportunity prices.

The acquisition of the advertised property will be carried out exclusively through remate assignment, within the framework of the ongoing judicial auction process, with no possibility of direct sale.

All costs of the public sale and those arising from the cancellation of charges, and the debts that, if applicable, burden the estate, such as, and without being exhaustive, community fees and property tax (IBI), will be borne by the adjudicator. (The law requires the adjudicator to bring up to date the community and IBI for the last 4 years in case there is debt).

The occupancy status of the property is unknown. Said property cannot be visited nor can it be mortgaged for purchase, so the buyer must have sufficient liquidity for the purchase.

The photograph does not correspond to the property, only the approximate location.