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NPL’s are loan failures of the financial institutions, non performing loans of their acronym in English and usually there are two categories: with real guarantees and without guarantees. As they are known in the market secured and un secured. The REO’s are the assets awarded after a foreclosure process. REO comes from the Spanish acronym Real Estate Owned.
These portfolios have been and continue to be the most demanded products and represent the largest transactions in Spanish Real estate Market.
There are three key factors to determining the correct value of these portfolios:
The processes of acquisition are competitive processes normally split in two phases: in the first one potential buyers present tenders, so called not binding offers, and if they are accepted it is passed to a second phase of analysis in depth that ends in a binding offer.
The keys are:
The precision of the databases, the knowledge in detail of the different territories and the IT tools are very important to obtain in times, usually very short, a precise valuation of the portfolios. The risk of not arriving or passing is high, because in the first lose the opportunity to buy and the second will lose money in the operation.
If the non-binding offer progresses, a detailed and complete analysis second phase will be initiated where the first offer to acquire the portfolio is ratified or modified.
Gesvalt accompanies the client in both phases adjusting in each case to the needs of the same, providing an accurate, quick and effective advice.