We only do long-term property management so I don't have a great view into the short-term rental market. 

Google earth and google street view is great but it doesn't show you real time dataIf I have someone offering on my listing and they are un represented and they do not want to be represented by the listing agent or a buyers agent I know for a fact that my client will get the better end of the deal in this real estate transaction. 

Take the long view and the big picture.

You'll put down your 10% deposit.With the court date coming up the agent representing the estate will keep marketing the property and let people see/view.

They'll likely want you to use the money you're making on the sale of the lot to partially pay down the remaining mortgage since it will be for a smaller remaining amount of property which makes sense to me from their point of view. 

You should view what they tell you as guidance only. 

Echoing what Shawn said above, you would have a vast array of options ranging from lively resorts with tons of amenities (think water slides, lazy rivers, tennis)...ranging to quieter resorts with lots of green space and forest or lake view homes.

I'm no expert on the tax point of view for US buyers in Spain, but I would be more than pleased to point you in the right direction with regard to property investment in Spain.

Just want to say I am very impressed with your knowledge on your market , not just from residential but also your view from business and economy standpoint.

There is no right answer of course, just wondering how today’s participants in real estate view this transaction.