Why Spanish Banks Are Really, Really Stupid!

I placed this article on a note on the Valencia Property Facebook page yesterday but a lot of people have been asking me about it so I thought it might be useful to place it into the blog and see what you think too. Yesterday I was sent some publicity by a bank and took a look. Some of the properties that they were advertising among their repossessed stock were interesting so I phoned up to get to look at one especially. My conversation went like this. "Hello Servihabitat" (La Caixa, the third biggest bank in Spain)

• "Hi there I am interested in taking one of my clients to see one of your repossessed properties"

"Are you a collaborator of the bank?"

• "That's what I am ringing about."

"Well first you need an account with us"

• "OK"

"And then you need to have an office at street level"

• "My office is in London!"

"So not at street level"

• "Erm no, international, my business is internet based"

"And then you need to have at least two other people working in the street level office"

• "I have outsourced assistants working for me around the World"

"But not in the office?"

• "No, not in the non existent office!"

"And then you need to be on the internet"

• "I think I can manage that. Hold on, so what you are saying is that because I haven't got a street level office where I employ two people to do nothing then I cannot take a client who will probably buy this 'just like that' to see your property?"

"Well you could go into your local office and ask"

• "And they will let me see it?"

"No but you can open the account and apply to go and see it there, and if you satisfy all of the requirements then the central office will consider your application!"

• "So as we have already established I do not satisfy the requirements, is there any real reason for me to go into the office?"

"Yes you can open your account!"

• "I thought that the banks actually wanted to sell your properties"

"We do"

• "Evidently"

Seriously I give in with some banks in Spain, and by the way, did I mention that this is the third biggest bank in Spain and they haven't got a clue!