Can non-residents bid on subastas?

Yes — you need NIE, Spanish bank account, digital certificate or Cl@ve PIN. Most foreign bidders use a Spanish abogado with POA to handle the technical process.

What's the worst-case occupancy scenario?

Squatters (okupas) with vulnerability claims (children, disability) can delay eviction 6–18 months. Always check occupancy status via the abogado's pre-bid investigation and discount accordingly.

Is financing available for subasta purchases?

Almost never within the 40-day completion window — you need cash or a pre-approved facility. Bank REOs are financeable normally.

Is plusvalía and ITP payable on subasta wins?

Yes — auction price is the base for ITP (10% Valencia) and plusvalía. Subsisting cargas may also increase the effective acquisition cost.

Property

Foreclosures & Auctions — Costa Blanca

Spanish judicial auctions (subastas) and bank repossessions (REOs) can deliver property at 20–40% below market — but with no inspection, possible occupied possession, and unwound liens to clear. This is a specialist game with real money to be made and real ways to lose your deposit.

Last updated 1 June 2026

The three sourcing channels

Channel	Discount vs market	Risk	Liquidity
Portal Subastas (BOE)	20–40%	High — no inspection, possible occupancy	Moderate
Bank REOs (Santander, BBVA, CaixaBank, Sabadell, Aliseda, Solvia, Haya, Servihabitat)	10–25%	Lower — vacant, clean title, financeable	High
Notarial auctions	15–30%	Moderate — title cleaner than judicial	Low

Subasta process step by step

✦Register a Cl@ve PIN or digital certificate on portalsubastas.boe.es.
✦Deposit 5% of the starting bid (tasación) to participate; refundable if you don't win.
✦Bid window: 20 calendar days. Highest bid at close wins.
✦Winner has 40 days to deposit the balance; failure loses the 5% deposit.
✦Take possession via lanzamiento (judicial eviction) — 2–8 months if occupied.
✦Clear any subsisting charges (cargas anteriores) — these survive the auction; only posterior charges are cancelled.

The cargas trap

Always pull the nota simple BEFORE bidding. Cargas anteriores (mortgages and embargoes registered before the auctioning creditor's lien) STAY with the property — you inherit them. A €120k 'bargain' with €60k of subsisting cargas is a €180k purchase.

Bank REO advantages

Vacant possession on completion (the bank already evicted).

Clean title (the bank cleared all liens before listing).

Mortgage available from the same bank (often 80% LTV, occasionally with notary/AJD covered).

Inspection allowed BEFORE you commit. Listings include floorplan, photos, energy rating.

Discount is smaller (10–25% vs market) but execution risk is dramatically lower.

Where to find stock

✦subastas.boe.es — all judicial auctions, searchable by province and asset type.
✦Servihabitat, Aliseda, Solvia, Haya — bank-servicer portals with REO inventory.
✦Idealista 'banco' filter — flags bank-owned listings on the main portal.
✦Sareb (the 'bad bank') — winding down, but residual coastal stock still trades at discounts.
✦Local extrajudicial channels — a Costa Blanca abogado specialising in subastas brings off-market dossiers competitors don't see.

Realistic returns 2026

Strategy	Discount	Hold	Net IRR
Subasta flip (vacant, light reform)	30–40%	6–10 months	25–45%
Subasta hold (occupied, evict + rent)	25–35%	18–24 months	15–22%
Bank REO buy + light reform + rent	10–20%	ongoing	8–12% cashflow
Bank REO flip (cosmetic refresh + resell)	10–18%	6–9 months	12–20%