Repossessed property for sale

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A repossessed property is a property that has been taken back by a bank because the previous owner defaulted on their mortgage.

It is now quite rare to have repossessed properties for sale in the Algarve, for a number of reasons. There are rules that protect owners in case of a payment problem, and banks are obliged to renegotiate when payment problems occur. The property market in the Algarve has been very strong in recent years, and as such negative equity is rarely seen.

Repossessed Property For Sale

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