Individuals continue buying from Sareb, which sells more than 2.000 in July.

Sources from this institution have informed EFE that the sale of residential homes to individuals, which started five months ago, is increasing after the implementation of a plan to invigorate sales of the properties Sareb is managing among individuals (around 55.000 right now).

Experts within the real estate and banking business have indicated that sales from Sareb to individuals is taking place when “money is starting to move within the sector” as it is expected that housing prices will not fall much more.

This tendency, according to the sources, will help the restructuring processes in some of the institutions that have transferred their properties and that are collaborating in their sale through their branches, as well as the agreements signed with five banks: Santander, BBVA, Caixabank, Sabadell and Popular for the granting of mortgages on properties from Sareb.

However, the sources have specified that in order to fulfill the target of getting rid of these assets in five years, Sareb will need to emphasize the retail segment, which is still quite ignorant about the sales procedure of their properties and the great variety of prices it offers.

In order to finish these properties, Sareb has signed one year agreements with the institutions that have transferred the properties: Bankia, Catalunya Banc, Banco de Valencia, Novagalicia, Banco Gallego, BMN, Banco Ceiss, Caja 3 and Liberbank so that they are able to sell them in exchange for a commission and through their branches or real estate subsidiaries.

Sareb has assured that these properties will not be sold at a lower price than the acquisition one and has indicated that any citizen may buy one of their properties through the branches of any of the nine institutions that have transferred their assets.

In order to acquire a property from Sareb, the individuals will need to follow the normal procedure of the real estate activity (search of a property; negotiation of the price, obtaining of finance, if necessary and signature of the acquisition).

Sources from Sareb, which does not sell the properties directly, have indicated that they are working on a project to change their website into a new sales channel, which will probably be available in the last quarter of the year. (…)